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Blackstone (BX) determined to offload the Cosmopolitan following the Covid-19 pandemic that upended the well-known Nevada city. The company announced last year it was selling it for $5.Sixty five billion - greater than $four billion it bought it for. MGM Resorts (MGM) paid $1.6 billion of that to assume its operations, with the remainder of the cash coming from real estate investment firms.

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In 2006, Congress passed the Unlawful Internet Playing Enforcement Act, which made it illegal for wagering businesses to knowingly accept payment in connection with unlawful Web gambling (though it doesn't itself make Internet playing unlawful). 109 Pub. L. 109-347, Title VIII (Oct. 13, 2006) (codified at 31 U.S.C. §§ 5301, 5361-67). It additionally authorizes the Federal Reserve System to create rules that prohibit monetary transaction suppliers (banks, bank card firms, etc.) from accepting those funds. See 31 U.S.C. § 5363(4). This Act, along with threats of prosecution beneath the Wire Act from the Department of Justice, has triggered several Internet playing companies to withdraw from the U.S. market.

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