Treasure Island sold for $775 million

Stutz, Howard
December 2008
Las Vegas Business Press (10712186);12/22/2008, Vol. 25 Issue 51, p12
The article reports the acquisition by Phil Ruffin, a Wichita, Kansas businessman, of the Treasure Island for $775 million from MGM Mirage. The transaction is said to be closed by end of June 2009 after approval by the Nevada gaming regulators. Ruffin, ranked among the 400 wealthiest Americans by the "Forbes" magazine, and who sold the New Frontier in 2007 and started investing in municipal bonds, stocks and other public markets, said that he wants to get back at the Las Vegas Strip with a major property.


Related Articles

  • Gaming Control Board backs deal to sell Treasure Island. Stutz, Howard // Las Vegas Business Press (10712186);3/16/2009, Vol. 26 Issue 11, pP15 

    The article announces that the Nevada Gaming Control Board approved the offer of Phil Ruffin to purchase Treasure Island from MGM Mirage for the amount of $775 million. The control board will secure a final ruling from the Nevada Gaming Commission on March 19, 2009. A deal between Ruffin and MGM...

  • Reports: Lower tiers dominate '09 buys. Ricca, Stephanie // Hotel & Motel Management;6/15/2010, Vol. 225 Issue 7, p3 

    The article reports on the lower transaction rate in the hospitality industry in 2009. It features the relatively cheap purchase price 775 million dollars by Phil Ruffin of the 2,885-room Treasure Island Resort and Casino on the Las Vegas Strip from MGM Mirage. It cites statistics by Hotel...

  • Ruffin shops for MGM property.  // Casino International;Jan2009, p4 

    The article reports that Ruffin Acquisitions, the corporation of financier Phil Ruffin, has purchased the Treasure Island Resort & Casino in Las Vegas, Nevada from gambling industry firm MGM Mirage. The price of the acquisition was reported to be $775 million.

  • RUFFIN ITCHING TO GET BACK ON STRIP. Stutz, Howard // Las Vegas Business Press (10712186);12/29/2008, Vol. 25 Issue 52, pP18 

    The article reports on the purchase of Treasure Island from MGM Mirage by businessman Phil Ruffin in 2009. It is inferred that Ruffin will pay MGM Mirage $500 million in cash and $275 million in secured notes. It is also cited that Ruffin invests his money in municipal bonds, stocks and other...

  • Nevada Gaming Commission gives Treasure Island sale final OK. Stutz, Howard // Las Vegas Business Press (10712186);3/30/2009, Vol. 26 Issue 13, pP12 

    The article announces the approval by the Nevada Gaming Commission of businessman Phil Ruffin's purchase of Treasure Island hotel and casino in Las Vegas from MGM Mirage. Ruffin revealed that he changed his deal with the casino operator by increasing the amount that he will pay to $600 million...

  • HONKY TONKIN Down on The Strip. Keller, Daniel // FRONT of HOUSE;Jun2010, Vol. 8 Issue 9, p34 

    The article offers information on Gilley's, a club which is a combination of night club, restaurant, and sidewalk cafe at Treasure Island, Las Vegas, Nevada. It states that Gilley's is a rebirth of the music bar founded by Mickey Gilley in Pasadena, Texas in 1971. It mentions that the club...

  • Bill Cosby. Pedersen, Erik // Hollywood Reporter;7/6/2010, Vol. 415 Issue 19, p11 

    The article offers information on the stand-up comedy act performed by Bill Cosby on Treasure Island, Las Vegas, Nevada on July 2, 2010. His act included lines on women and wives, parenting and grandparenting, youth and aging. As reported, he employed his trademark pregnant-pause delivery,...

  • MGM Mirage payment keeps CityCenter going. Stutz, Howard // Las Vegas Business Press (10712186);4/6/2009, Vol. 26 Issue 14, pP15 

    The article reports that the payment made by MGM Mirage to CityCenter in Las Vegas, Nevada allowed construction work to continue on the complex.

  • Gaming Briefs. Miller, Valerie // Las Vegas Business Press;10/23/2000, Vol. 17 Issue 42, p21 

    Reports on developments in the gaming industry in Las Vegas, Nevada for the period ended October 23, 2000. Increase in the number of tourists and convention attendance; Financial performance of MGM Mirage for the third quarter of 2000; Reason why American senior citizens go to casinos.


Read the Article


Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics