TI sold per lvrj and various news sources

Phil Ruffin former owner of the New Frontier, is going to be the new owner.

Phil says he doesn't plan any immediate changes, he expects losses for a couple of years, and thinks things will be just fine and profitable after that.

Yep, I got that news about the TI and the fact that it has been snowing late this afternoon when a friend of mine got stuck in the house because he had a fear of driving through the snow and therefore missed a luncheon engagement.

He thinks that the TI sold for about $750 million but wasn't too sure about that figure.

That's a good number, MGM has "agreed" to sell Phil the property for that amount which included $500,000 cash and the rest in secured loans.

Phil says it's a fairly clean property, 20 acres on the strip, in a prime location, and he has been kinda sitting on the profits from the sale of the Frontier to ELAD. Therefore, it looked like a pretty good risk.