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Ruffin shops for MGM property
The Las Vegas Treasure Island casino and hotel is being sold by MGM Mirage to Phil Ruffin's company, Ruffin Acquisition, for $775 million. Ruffin realised $1.4 billion from the sale of the New Frontier casino in 2007.
Subject to the usual regulatory and governmental approvals, the deal is expected to conclude before the middle of 2009.
MGM denies it plans to sell other properties. "Nothing is or was ‘on the block,'" MGM spokesman Alan Feldman told the Las Vegas Sun.
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