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MGM Mirage sells Treasure Island Las Vegas hotel to Phil Ruffin for $775 million.  Ruffin, is the previous owner from Kansas, of the New Frontier hotel, across from the soon to open Encore Las Vegas.  He’s decided that there is no better time to invest in Vegas.

The New Frontier Strip hotel was sold for $1.24 billion in May 2007 to the Elad Group.  Imploded in Nov 2007 to a lot of fanfare.

Continue reading MGM Mirage Sells Treasure Island Las Vegas To Ruffin For $775 Million

Strippers rejoice with possible employment by a Penthouse Brand Las Vegas NV Hotel.  The Penthouse CEO has gone public with a possible real estate purchase on the Las Vegas Strip.  Watch out casino operators, the men’s magazine could put a new spin on attracting visitors to their casino.

Continue reading Strippers Rejoice: Employment By A Penthouse Brand Las Vegas NV Hotel

Las Vegas land prices plummet near a record devaluation of 74 percent due to the real estate market and higher than normal commercial real estate vacancy rates.

Third quarter real estate sales this year have been 427 acres for an average price of $524,725 an acre.  This is a massive decrease from the 2007 same quarter totals.

Continue reading Las Vegas Land Prices Plummet Near A Record Devaluation Of 74 Percent

Bonds issued by MGM Mirage backed by New York New York Vegas casino.  This past week the gaming company issued $750 million in senior secured notes.

The private offering notes will be due 2013 will allow the buyer to receive a 15 percent yield and 13 percent interest will be paid by MGM Mirage.

Continue reading Bonds Issued By MGM Mirage Backed By New York New York Vegas Casino

Las Vegas Fashion Show mall planned sale to save real estate investment trust from financial woes this week.  General Growth Properties is the owner of three malls on the Strip including Shoppes at Palazzo, Grand Canal Shoppes and Fashion Show.

Continue reading Las Vegas Fashion Show Mall Planned Sale To Save From Financial Woes

Newport Lofts in Las Vegas slashed luxury condo prices with incredible luxury condominium sale and are priced from &199,900.  The unveiling of their new sales center, Oct. 24 – 26 in the high rise, will kick off their new home buyer’s incentive.

Continue reading Newport Lofts In Las Vegas Super Sale For Luxury Condos From $199,900