The billionaire owner of the Treasure Island Las Vegas integrated casino resort, Phil Ruffin, has reportedly declared that he would be interested in buying any Las Vegas Strip property Caesars Entertainment Corporation may choose to put up for sale in the future.
The revelation from Phil Ruffin (pictured) was accompanied by an assertion that his firm would be readily able to produce as much as $1 billion in cash to fund any such purchase and may be prepared to raise even more by going into debt.
“They have some great locations and we would have strong interest. We don’t have any debt and so we could borrow a lot of money if we found the right deal.” Said Ruffin.
He is now set to spend upwards of $100 million to expand this 21-acre south Florida avenue and is even said to be considering whether to add a hotel featuring as many as 300 rooms.
“If the demand is there, we can put as many hotel rooms as we want. But for now we think we will limit it to 200 to 300.”
