by Michael J. Shapiro | August 17, 2011

The 2,518-room Cosmopolitan of Las Vegas, which opened last December, reported a $54.3 million operating loss for the second quarter of this year -- a slight improvement over the $56.8 million loss from the property's first full quarter. The resort's $70.1 million F&B revenue significantly outpaced revenues from the casino ($28.2 million) and rooms ($45.9 million). That said, the property reported a solid average daily rate ($246) and occupancy (91.4 percent) for the quarter. The Tropicana Las Vegas, which recently debuted a major renovation, reported a $9.4 million loss for the quarter -- a year-over-year improvement of $1.8 million. Revenues at the Tropicana were $24.4 million for the quarter, up a healthy 43 percent over 2010.