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RUFFIN PAYS THE PRICE FOR SUCCESS

There’s not much on the walls of Phil Ruffin’s office.

But one thing caught the eye of local writer/blogger/podcaster Steve Friess during an interview after Ruffin purchased Treasure Island recently for $775 million from MGM Mirage: It was a framed check for $171,953,438.

“That’s my check to the IRS last year,” said Ruffin, “so don’t let anyone ever tell you the rich don’t pay taxes.”

Keep in mind that Ruffin paid $167 million for the New Frontier in 1998. He sold it to El Ad Properties for $1.24 billion in May 2007.

 

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