Deutsche Bank AG is cutting itself free of The Cosmopolitan Casino of Las Vegas, a resort and casino, saying it’s selling the swanky but unprofitable high-rise complex on the Strip to Blackstone Real Estate Partners VII for $1.73 billion. The German investment bank said in a statement Thursday that the cash deal remains subject to regulatory approvals. The bank had intended to sell the property from before it even opened in 2010 and had placed The Cosmopolitan in a separate bank division devoted to winding down or selling unwanted investments. The last major Las Vegas resort approved before the Great…

Deutsche Bank agreed on Thursday to sell Cosmopolitan Casino in Las Vegas, which is one of the town’s most expensive resorts. The property will be sold to the Blackstone Group for about $1.73 billion in cash. The deal will finally end a long and painful foray by Deutsche Bank into the casino business, after it foreclosed on the resort’s developer, Bruce Eichner, in January 2008. It was one of many, as banks moved to take over troubled gambling properties at the onset of the financial crisis. Since then, the firm has tried to make the best of its new property,…