September 21, 2014
LAS VEGAS (AP) - Nevada gambling regulators have given final approval for businessman Phil Ruffin's $775 million purchase of the Treasure Island hotel-casino from MGM Mirage Inc.
The Nevada Gaming Commission voted Thursday to let Ruffin return to ownership on the Las Vegas Strip with his acquisition of the nearly 3,000-room property.
Ruffin previously owned the New Frontier, which he sold for $1.2 billion in July 2007. It was demolished to make room for a multibillion-dollar resort bearing The Plaza brand and the $1.2 billion Trump International Hotel & Tower.
Ruffin has said he plans to keep the Treasure Island's 3,200 employees and management at intact, as well as its Cirque du Soleil and pirate shows.
Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.