VEGAS INC Magazine - Latest Las Vegas business news, features and commentaries about gaming, tourism, real estate and more
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OCTOBER 29, 2012 / YOUR BUSINESS-TO-BUSINESS WEEKLY SPECIAL FOCUS NETWORKING AND CLIENT RELATIONS This month, VEGAS INC examines the art of building and maintaining business relationships. COSMO ADDS 40 GAMING JOBS, AIMS TO GROW CASINO By Steve Green senior staff writer T he Cosmopolitan opened in De- cember 2010 during the depths of the Great Recession, and few expected it to be an immediate financial success. Besides a stagnant U.S. economy that slowed visitation to Las Vegas, the casino resort faced several other, more unique challenges. PERFECT PRESENT How to choose the right holiday gift for clients, employees and colleagues T By Delen Goldberg VEGAS INC editor he holiday season is fast approaching, and that means it's time to start thinking of the perfect way to thank clients, employees and colleagues for a year of hard work. But what to give? Choosing gifts in a corporate setting can be difficult, especially when budgets are tight. That doesn't mean presents should be overlooked. In most cases, the simple act of giving is more important than the gift itself. of the Corporate Gift Concierge in Denver. "The amount spent is typically "Gift giving is one of the things that shows we're not always taking," said Susie Overton, owner SEE GIVING, PAGE 14 Its hefty $3.9 billion price tag was so high that observers wondered if owner Deutsche Bank could ever recover its investment. The bank completed the project after the initial developer of the Cosmopolitan defaulted on a de- velopment loan. Lawsuits raged between the resort and people who had bought condo- miniums there. Buyers were trying to back out of their purchases because real estate values had declined. And the Cosmopolitan's opening capped a massive building boom on the Strip. Only a year earlier, the neigh- boring CityCenter flooded the market SEE UNWIN, PAGE 16 INSIDE TODAY SPLIT DECISION | P.6 Casinos ordered to pay tax on free meals given to gamblers but not to employees GLOOMY FORECAST | P. 9 Owner of the M Resort says no robust recovery on the horizon for Las Vegas THE LIST | P. 22 Trade and professional organizations | 29 OCTOBER 2012 | 1 CHRIS MORRIS