Lifestyle Magazine Curating Travel, Food, Tech, Celebrities And Events

Las Vegas Casino deal canceled today due to buyer’s failure to close.  Australia’s Crown Ltd. couldn’t close a $1.75 billion deal to purchase Cannery Casino Resorts.

Due to the deal cancellation, Crown paid $50 million termination fee to Cannery Resorts.  Although, Crown wants to continue the purchase of the casinos it will have to go through a several year process with many milestones.  Crown operates casinos in Macau and Australia.

(more…)

Purchase of Treasure Island Las Vegas hotel for $775 million approved by the Gaming Control Board. The Board didn’t take long to ok the real estate transaction by Phil Ruffin.  Final ruling will commence on March 19, 2009 and 11 days later it will close with approval.

Terms for the commercial real estate deal will start with $500 million due to MGM Mirage at closing.  Another $100 million will be payable in six months.  Finally, $175 million balance due in two years with a 10 percent interest rate.

(more…)

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.

(more…)

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.

(more…)