MGM Mirage has completed the sale of Treasure Island Hotel and Casino, Las Vegas, US, to Ruffin Acquisition, the company owned by Phil Ruffin, in a deal worth $775m.
Treasure island features 2,885 guest rooms and suites, and approximately 87,000sq.ft of gaming space.
"TI is in great hands with Phil Ruffin and we wish him and all of the property’s wonderful employees nothing but the best," said Jim Murren, chief executive officer of MGM Mirage.
As a result of the sale, MGM now expects to report a substantial gain in the first quarter.
