Treasure Island (TI) has been sold to former New Frontier owner!

Featured Rooms

	Stratosphere
	Wynn
	Arizona Charlie's Decatur

Welcome to All Vegas Poker! All Vegas Poker provides Poker Room Reviews, Tournament Schedules, Cash Game Listings, News and all other Information for poker players visiting Las Vegas, NV. Visitors are encouraged to submit poker room reviews, post Las Vegas Trip Reports, and join the AVP community in our Discussion Forums. Please REGISTER for a free All Vegas Poker account today, and begin contributing to make AVP an even greater resource for poker players in Las Vegas!

> Las Vegas Poker News and Announcements > Detail News and Announcements

Treasure Island (TI) has been sold to former New Frontier owner!

Summary: Treasure Island Hotel and Casino, a Las Vegas fixture since its opening in October 1993, is being sold to Phil Ruffin, former owner of the Frontier Hotel and Casino.

Date: 12/15/08
Subject: Treasure Island (TI)

Content

Treasure Island Hotel and Casino has been sold to Phil Ruffin, a self made billionaire businessman who recently sold is New Frontier property garnering him a profit of over 1 Billion dollars.

The sale is expected to close within about 6 months. The purchase price was $775 Million, $500 million of which will be paid in cash.

The hotel was built in 1993 at a cost of $450 million, and was largely remodeled in 2003 and 2006.

Ruffin purchased the New Frontier in 1999 for approximately $175 million and sold the property 8 years later for $1.2 Billion, while retaining a few acres in the back for Trump Tower (he is business partners with Trump).

The new Treasure Island owner is approximately 72 years old and is listed on the Forbes 400 list of Billionaires.

The New Frontier did not have a poker room when it closed. The Frontier's poker room was shut down prior to the poker boom, and was never reopened.

To discuss this news, please see the dedicated AVP forum Topic located HERE.

Previous News Story | Next News Story | News Listing