Phillip Ruffin is an entrepreneur and CEO who owns numerous real estate properties and other businesses. On December 15, 2008, the MGM Mirage Casino announced that it will sell its Treasure Island Casino to Ruffin for $775 million.Reuters: MGM Mirage to sell Treasure Island casino to Ruffin (December 15, 2008)
Ruffin Buys Treasure Island
Ruffin's deal to buy MGM's Treasure Island Casino, which was announced December 15, 2008, will help MGM to offset a 67% drop in its stock price that has occurred in 2008. Ruffin will use 500 million in cash and $275 million in securities to purchase the casino. The deal is expected to be closed in the first quarter of 2009. Ruffin had previously bought the New Frontier Casino in 1999 and sold it in 2007.Reuters: MGM Mirage to sell Treasure Island casino to Ruffin (December 15, 2008)
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Fast Facts
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Owns Ruffin CompaniesRuffin Companies: Home page
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Ruffin Companies has interests in gaming, hotels, rental properties and hand trucksRuffin Companies: Home page
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Ruffin is sole owner and CEO of Ruffin CompaniesRuffin Companies: Home page
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Owns half of the Trump International Hotel and Tower with Donald TrumpThe 400 Richest Americans: #215 Phillip Ruffin (2008)
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Age
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Net worth
$2.1billion in 2008
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Married Oleksandra Nikolaenko, 2004 Miss Universe contestant, in 2008The 400 Richest Americans: #215 Phillip Ruffin (2008)
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Has three children from a previous marriageThe 400 Richest Americans: #215 Phillip Ruffin (2008)
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