Treasure Island - Sold

[Tedlark]

Today's edition of the Wall Street Journal had a small blurb in it about MGM Mirage limiting the scope of their new City Center project. Also in the blurb was a sentence saying that MGM has agreed to sell Treasure Island to Kansas billionaire Mr. Phil Riffin Sr. for $775 million.

[EDC1977]

Ted, visit LV Advisor, week of Dec 14-21 for snipets about Ruffins purchase of TI from MGMMirage. TI's property is small in that it sits on a large chunk of Mirage land which can only be obtained by buying the Mirage, otherwise, it wasn't such a bad deal. Be sure to report about the W2G you'll have to file when you get back from LV.

[Tedlark]

Ed, Eduardo was talking to me about food at Red Rock in a different forum so at this point I'm thinking about just eating all next weekend and not gambling at all - NOT !!!  Do you know much about Riffin? Does he own other properties?

[EDC1977]

Ed, Eduardo was talking to me about food at Red Rock in a different forum so at this point I'm thinking about just eating all next weekend and not gambling at all - NOT !!!  Do you know much about Riffin? Does he own other properties? Ted, little is said about Kansas businessman Phil Ruffin. He made a bundle selling the New Frontier hotel on the strip for $1.24 billion and promptly bought up the Treasure Island for $775 million. He still owns the land the Trump tower sits on. He didn't buy the adjacent Mirage because of the cash necessary to complete the purchase.(rumored to be over $1 billion)

[EDC1977]

Tedlark, ironically, must be your day. Todays "question of the day" feature in the LV Advisor happens to be about the TI sale. Click on the link to see:
          http://lasvegasadvisor.com/qod.cfm  Has to be viewed today unless you're a LV Advisor member, then you can access archives for QoD. Good luck in LV.

[MikeA]

Ironic, Ruffin live in and operates out of Wichita, Kansas. My wife almost went to work for him around 10 years ago. He owned property in LV at that time too though I don't remember what it was. The Stardust and "New Frontier" ring a bell. Hopefully, TI will not go the way those other two went (imploded!)

[Tedlark]

Thanks for the link Ed, I enjoyed reading it. Ruffin must know what he's doing in order to garner props from Steve Wynn, kinda like Henry Ford saying that you build a good car. We're starting to get a bit excited about the upcoming weekend especially because here in Chicago the temps are not supposed to be too good. Eduardo is out there this week, I hope we all get to read a good trip report from him soon. Thanks again and good luck to all. Ted. 

[EDC1977]

Ted, should be pretty decent weather for your stay. LV is lo to mid 60's by day/ lo 40's hi 30's by night. Not too much fluctuation unless they get a high pressure ridge which will increase temps by about 10 degrees. Better for you to bring the hot spell!

[Tedlark]

Ed practically ANYTHING 'cept for Minnesota will be better than the -1 for the high temp Thursday in Chicago. Friday the high will be 9 above and I can't fly out soon enough. It'll feel weird walking around in a 3 season jacket out in 702 but some crosses are easier to bear than others.

[shadowman]

I have a friend who is flying back to MN tomorrow. Wind chills of -30F or worse are predicted.