Billionaire Buys Himself Pirate-Themed Vegas Casino


So, ok it’s Treasure Island and not the Bellagio. But, pirates are pretty hot right now.

Times (UK): MGM Mirage is selling the Treasure Island Hotel and Casino on the Las Vegas Strip to Phil Ruffin, the billionaire, for $775 million (£506 million). The casino operator, which has owned Treasure Island since May 2000 when MGM Grand bought Mirage Resorts, said it would show a substantial profit on the deal.

Mr Ruffin, whose interests include casinos and greyhound tracks, is buying Treasure Island through Ruffin Acquisition for $500 million cash and $275 million in secured notes issued by Ruffin Acquisition. He is the former owner of the New Frontier hotel-casino, which was demolished in November last year to make way for The Plaza, a multibillion-dollar resort, and the $1.2 billion Trump International Hotel & Tower.

Mr Ruffin said that the 2,885 room, 90,000 sq ft Treasure Island is “ideally located in the heart of the Strip”. It was built for $450 million by Steve Wynn, a casino mogul, and opened in 1993.

We’re curious to see what he has in mind. Again, Somali pirate-themed would be huge.