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The Cosmopolitan of Las Vegas’ first quarter of operations is in the books, and despite its high occupancy rate, the newest resort on the Strip reported a $56.8 million loss, the company said Friday.

The Cosmopolitan, which cost Deutsche Bank AG $3.9 billion to complete, generated $104.9 million in first-quarter revenue. It’s a revenue figure far less than its neighbors — Bellagio or Aria — reported in the first quarter.

Bellagio earned $251.4 million in net revenue, while Aria generated $225 million in revenue. Both Aria and Bellagio benefited from an well-established database of customers, which The Cosmopolitan continues to develop.

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