πŸ”₯ Deutsche Bank to Sell $ Million Stake in Station Casinos

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Deutsche Bank will sell its $ million stake in Station Casinos, or Red Rock Resorts, as the parent company became known just prior to its.


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Deutsche Bank sells Vegas casino for $ billion
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Deutsche Bank to Sell $ Million Stake in Station Casinos
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Deutsche Bank AG is cutting itself free of The Cosmopolitan of Las Vegas resort and casino, saying it's selling the swanky but unprofitable.


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Deutsche Bank Sells Vegas Casino For $1.73B

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Deutsche Bank sells the lossmaking Cosmopolitan of Las Vegas casino and resort to private equity giant Blackstone.


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In a prospectus issued last week, Red Rock Resorts, operator of more than a dozen casinos across Nevada and California, disclosed that the.


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Deutsche Bank is selling the swanky but unprofitable Cosmopolitan of Las Vegas resort and casino on the Strip to Blackstone Real Estate.


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LAS VEGAS (AP) β€” Deutsche Bank AG is cutting itself free of The Cosmopolitan of Las Vegas resort and casino, saying it's selling the swanky.


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News Update: Deutsche Bank's Cosmopolitan of Las Vegas hotel-casino new addition on Las Vegas Strip

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Deutsche Bank sells the lossmaking Cosmopolitan of Las Vegas casino and resort to private equity giant Blackstone.


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Deutsche Bank is selling the swanky but unprofitable Cosmopolitan of Las Vegas resort and casino on the Strip to Blackstone Real Estate.


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Deutsche Bank Finally Sells Cosmopolitan For $1.73 Billion

The Cleary firm has concluded its investigation and submitted its report, which however has not been made public. Lippman called the CDO market a 'ponzi scheme', but also tried to conceal some of his views from certain other parties because the bank was trying to sell the products he was calling 'crap'. The bank developed, owned, and operated the Cosmopolitan of Las Vegas , after the project's original developer defaulted on its borrowings. In Germany, the bank was instrumental in the financing of bond offerings of steel company Krupp and introduced the chemical company Bayer to the Berlin stock market. It also put in some mortgage bonds that its own mortgage department had created but could not sell, from the DBALT series. Documents on those loans have also been subpoenaed from Deutsche Bank by the House Democrats together with the financial documents of the president. This series of acquisitions was closely aligned with the bank's strategy of bolt-on acquisitions in preference to so-called "transformational" mergers. In , the bank entered retail banking by introducing small personal loans. Deutsche Bank is one of the leading listed companies in German post-war history. In subsequent years, Deutsche Bank took part in the aryanization of Jewish-owned businesses; according to its own historians, the bank was involved in such confiscations by November Deutsche Bank provided banking facilities for the Gestapo and loaned the funds used to build the Auschwitz camp and the nearby IG Farben facilities. It was one of several banks described as colluding to fix interest rates used to price hundreds of trillions of dollars of loans and contracts worldwide, including mortgages and student loans. In , Deutsche Bank confirmed officially that it had been involved in Auschwitz. Environmentalists criticize Deutsche Bank for co-financing the controversial Dakota Access Pipeline , which is planned to run close to an Indian reservation and is seen as a threat to their livelihood by its inhabitants. Spain and Italy however account for a tenth of its European private and corporate banking business. Instead the board was represented by a speaker of the board. As the share had lost value since mid and market capitalization had shrunk to around EUR 18 billion, it temporarily withdrew from the Euro Stoxx 50 on August 8, In , Deutsche Bank sold its stake in the joint company to Commerzbank. In , the bank created the world-known blue logo "Slash in a Square" β€” designed by Anton Stankowski and intended to represent growth within a risk-controlled framework. As regards the Gemstone VII deal, even as Deutsche was creating and selling it to investors, Lippman emailed colleagues that it 'blew', and he called parts of it 'crap' and 'pigs' and advised some of his clients to bet against the mortgage securities it was made of. The bank's first domestic branches, inaugurated in and , were opened in Bremen [11] and Hamburg. For Deutsche Bank, domestic branches of its own were still something of a rarity at the time; the Frankfurt branch [17] dated from and the Munich branch from , while further branches were established in Dresden and Leipzig [18] in In addition, the bank rapidly perceived the value of specialist institutions for the promotion of foreign business. Main article: European sovereign-debt crisis. It was required to dismiss all employees who were involved with the fraudulent transactions. The risk of Deutsche taking large losses if the collateral was wiped out in a crisis was called the gap option. The principal findings by the law firm, published in July , [95] found four incidents that raised legal issues, such as data protection or privacy concerns. On the previous day, Sewing had laid blame on unnamed predecessors who created a "culture of poor capital allocation" and chasing revenue for the sake of revenue, according to a Financial Times report, and promised that going forward, the bank "will only operate where we are competitive". Deutsche Bank released a statement confirming it would "cooperate closely with prosecutors". Amid Losses and Lack of Direction". On 3 January , it was reported that Deutsche Bank would settle a lawsuit brought by US shareholders, who had accused the bank of bundling and selling bad real estate loans before the downturn. The object of the company is to transact banking business of all kinds, in particular, to promote and facilitate trade relations between Germany, other European countries and overseas markets. During the Annual General Meeting in May , CEO Christian Sewing said he was expecting a "deluge of criticism" about the bank's performance and announced that he was ready to make "tough cutbacks" [68] after the failure of merger negotiations with Commerzbank AG and weak profitability. Deutsche had become the biggest operator in this market, which were a form of credit derivative designed to behave like the most senior tranche of a CDO. Deutsche Bank was founded in Berlin in as a specialist bank for financing foreign trade and promoting German exports. Banks portal Companies portal. From Wikipedia, the free encyclopedia. The bank found suspicious transactions in which Epstein moved money out of the United States, the Times reported. Lippman's group made money off of these bets, even as Deutsche overall lost money on the CDO market. Deutsche Bank in general as well as specific employees have frequently figured in controversies and allegations of deceitful behavior or illegal transactions. According to the New York Times , "its finances and strategy [are] in disarray and 95 percent of its market value [has been] erased". In all incidents, the activities arose out of certain mandates performed by external service providers on behalf of the Bank's Corporate Security Department. This wasn't limited to a few individuals but, on certain desks, it appeared deeply ingrained. Joint ventures were symptomatic of the concentration then under way in the German banking industry. The New York Times.{/INSERTKEYS}{/PARAGRAPH} See also: Financial crisis of β€”08 and European debt crisis. Deutsche Bank opened the casino in and ran it at a loss until its sale in May It concluded that even as the market was collapsing in , and its top global CDO trader was deriding the CDO market and betting against some of the mortgage bonds in its CDOs, Deutsche bank continued to churn out bad CDO products to investors. When Citibank , Manufacturers Hanover , Chemical , Bankers Trust , and 68 other entities refused to financially support Donald Trump in the early s, Donald Trump heavily relied upon Deutsche Bank for financial backing from its commercial real estate division since the mids. Deutsche Bank has negligible exposure to Greece. In a Libor first, Deutsche Bank will be required to install an independent monitor. Simpson claims that traders were not simply understating the gap option but actively mismarking the value of their trades. The New York Times reported in May that anti-money laundering specialists in the bank detected what appeared to be suspicious transactions involving entities controlled by Trump and his son-in-law Jared Kushner , for which they recommended filing suspicious activity reports with the Financial Crimes Enforcement Network of the Treasury Department , but bank executives rejected the recommendations. {PARAGRAPH}{INSERTKEYS}The bank's network spans 58 countries with a large presence in Europe, the Americas and Asia. The second half of the s saw the beginning of a new period of expansion at Deutsche Bank. One specialist noted money moving from Kushner Companies to Russian individuals and flagged it in part because of the bank's previous involvement in a Russian money-laundering scheme. Six former employees were accused of being involved in a major tax fraud deal with CO 2 emission certificates, and most of them were subsequently convicted. Greg Lippmann, head of global CDO trading, was betting against the CDO market, with approval of management, even as Deutsche was continuing to churn out product. See also: Financial crisis of β€” See also: Dakota Access Pipeline protests. The CDO was then aggressively marketed as a good product, with most of it being described as having A level ratings. It needs to get its common equity tier-1 capital ratio up to As of September it stands at Jain's resignation took effect in June , but he provided consultancy to the bank until January Fitschen continued as joint CEO until May In November , the bank had their Frankfurt offices raided by police in connection with ongoing investigations around the Panama papers and money laundering. Deutsche Bank lent money and traded currencies for the well-known sex offender Jeffrey Epstein up to May , long after Epstein's guilty plea in Florida to soliciting prostitution from underage girls, according to news reports. The statute laid great stress on foreign business:. German banking and financial services company. He was one of the first traders to foresee the bubble in the CDO market as well as the tremendous potential that CDS offered in this. In addition to the payment, the bank will install an independent monitor, fire six employees who were involved in the incident, and ban three other employees from any work involving the bank's US-based operations. The CIB comprises the below six units. Net income. Banking Financial services. In May , Deutsche Bank informed the public that the executive management had learned about possible violations that occurred in past years of the bank's internal procedures or legal requirements in connection with activities involving the bank's corporate security department. Operating income. Gentle pressure from the Foreign Ministry played a part in the establishment of Deutsche Ueberseeische Bank [19] in and the stake taken in the newly established Deutsch-Asiatische Bank [20] three years later, but the success of those companies showed that their existence made sound commercial sense. The bank merged with other local banks in to create Deutsche Bank und DiscontoGesellschaft. At the time of the agreement, Deutsche Bank was still facing investigations into the alleged manipulation of foreign exchange rates, suspicious equities trades in Russia, as well as alleged violations of U. On November 19, , Thomas Bowers, a former Deutsche Bank executive and head of American wealth management, was reported to have committed suicide in his Malibu home. The company's headquarters, the Deutsche Bank Twin Towers building, was extensively renovated beginning in The renovation took approximately three years to complete. Department of Justice over its sale and pooling of toxic mortgage securities in the years leading up to the financial crisis. By the mids, the buildup of a capital-markets operation had got underway with the arrival of a number of high-profile figures from major competitors. Its investment banking operations often command substantial deal flow. The bank has admitted to episodes of spying in and directed by its corporate security department, although characterizing them as "isolated". Deutsche Bank itself was not convicted due to an absence of corporate liability laws in Germany. See also: Libor scandal. In , the bank purchased the state's share of Universum Film Aktiengesellschaft Ufa. One division at Deutsche Bank had a culture of generating profits without proper regard to the integrity of the market. Deutsche Bank has issued a statement addressing the criticism it received from various environmental groups. By the entire CDO was almost worthless and the investors including Deutsche Bank itself had lost most of their money. The plan was allegedly cancelled after the intern was hired but before she started work. Not to be confused with Deutsche Bundesbank or Deutsche Postbank. The incidents were isolated, no systemic misbehaviour was found and there was no indication that present members of the Management Board had been involved in any activity that raises legal issues or has had any knowledge of such activities. In the s, the bank pushed ahead with international expansion, opening new offices in new locations, such as Milan , Moscow, London, Paris, and Tokyo. Investment banking Corporate banking Asset management Commercial banking. From as late as to at least , the bank engaged in covert espionage on its critics. It also maintained a branch in Istanbul , Turkey.