Purchase Of Treasure Island Las Vegas Hotel For $775 Million Approved

Treasure IslandPurchase 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.

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

Treasure Island 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.

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FREE TI Las Vegas Hotel Swimming Pool Party At Whisper

Whisper Las Vegas

TI Las Vegas Whisper pool party on thursday nights in August beginning August 10, 2006. Whisper pool party is sponsored by Kahunaville, Red Bull, Fosters, Las Vegas Vodka, FJV Clothing Co. and designed to create a unique Las Vegas night life experience just for you.

TI Las Vegas HotelLocation: TI Las Vegas Hotel Swimming Pool
Event Dates: August 10, 17, 24, 31 and
Labor Day Monday, September 4
Time: 6:00 p.m. - 11:00 p.m.
Entertainment: DJ Inferno mixes music at TI Las Vegas pool lounge environment.
Cost: $0 - No Cover Charge

Call 702-894-7757 for table and Cabana and reservations. There is no cover charge for this event. Locals and Hotel Guests are welcome. Must be 21 years of age or older.

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