Deutsche Bank Seeking To Exit Casino Business… In Las Vegas

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Mark Melin
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A large bank is trying to sell its ownership in a casino.  No, not Goldman Sachs trying to shed its ownership of Sigma X, the bank’s dark pool exchange for stock trading.  Deutsche Bank AG (USA) (NYSE:DB) is trying to sell the Cosmopolitan of Las Vegas for $2 billion, according to a report in Bloomberg News, citing unnamed sources. Risque advertising to a hip crowd The Casino, which engaged in risqué advertising with the slogan “just the right amount of wrong,” might have been the wrong company for Deutsche Bank to keep.  The casino cost $3.9 billion to build and has…

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Mark Melin is an alternative investment practitioner whose specialty is recognizing the impact of beta market environment on a technical trading strategy. A portfolio and industry consultant, wrote or edited three books including High Performance Managed Futures (Wiley 2010) and The Chicago Board of Trade’s Handbook of Futures and Options (McGraw-Hill 2008) and taught a course at Northwestern University's executive education program.