TITLE

Gaming Control Board backs deal to sell Treasure Island

AUTHOR(S)
Stutz, Howard
PUB. DATE
March 2009
SOURCE
Las Vegas Business Press (10712186);3/16/2009, Vol. 26 Issue 11, pP15
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
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 Mirage was struck where both agreed that the latter will operate the race and sports book for six months while Ruffin will retain the current management team and bring in his own hotel employees.
ACCESSION #
40538997

 

Related Articles

  • 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...

  • 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.

  • Around the World: NORTH AMERICA.  // International Gaming & Wagering;Jun2006, Vol. 27 Issue 6, p13 

    Offers news briefs related to the gambling industry in North America as of June 2006. Establishment of a strategic alliance between the Mashantucket Pequot Tribal Nation and MGM Mirage; Plan by Morgans Hotel Group Co. to acquire Hard Rock Hotel & Casino in Las Vegas, Nevada; Efforts by the...

  • Around the World: NORTH AMERICA.  // International Gaming & Wagering;Apr2005, Vol. 26 Issue 4, p16 

    Presents news briefs on the gaming industry in North America as of April 2005. Decision of Nevada gaming regulators to approve the merger of MGM Mirage and Mandalay; Details of the resort destination included in the expansion project of Sansia Casino; Plan of the Ontario government to upgrade...

  • Connecticut's Casino Expansion Plans. Jaccarino, Mike // Travel Agent;10/9/2006, Vol. 327 Issue 3, p40 

    The article reports on the merger of two gaming giants, MGM Mirage and Foxwoods Resort & Casino in Connecticut. The new operational structure is called partnership by officials from the two corporations wherein both will manage the day-to-day operations of the casino and the hotel while all the...

  • Bigger, but not necessarily better. Doocey, Paul // Casino Journal;Oct2004, Vol. 17 Issue 10, p6 

    Talks about merger and acquisition activities in the gaming industry in the U.S. Speculations on the impact of the planned merger of Harrah's and MGM; Tendency of bigger casino companies to underestimate the capability of smaller companies; Business strategies of smaller companies.

  • Partouche sale stalls, company eyes new buyers. Masud, Zafar // International Gaming & Wagering;May2007, Vol. 28 Issue 5, p1 

    The article reports on the unsuccessful merger deal between the casino operator Groupe Partouche to and real estate magnate Michel Ohayon and presents rival bids from various companies. Groupe Partouche Chairman Patrick Partouche is reportedly negotiating with MGM Mirage and other bidders....

  • Strip casinos report higher win.  // Las Vegas Business Press;03/13/2000, Vol. 17 Issue 10, p22 

    Reports on the revenues of casinos in Las Vegas, Nevada for January 2000 according to the state Gaming Control Board. Comparison of revenues with the previous year.

Share

Read the Article

Courtesy of THE LIBRARY OF VIRGINIA

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

Try another library?
Sign out of this library

Other Topics