Treasure Island Las Vegas Sold

If you have ever been to the North end of the strip of Las Vegas in the evening than you are sure to have noticed that pirate show at the ever popular hotel and casino Treasure Island.

Treasure Island which is also known as T.I has been a popular destination for many over the years due to its great proximity to other hotels, the fashion show mall, and generally good location on the strip. T.I will be switching hands as it was just announced that the hotel which is currently owned by MGM, has now been purchased by developer Phil Ruffin.

The MGM group has sold the hotel for $775 Million and it is said that the transaction will be complete sometime within the second quarter of 2009. There are no current words on what the developers plans are for the hotel and if the hotel will remain the way it is under the same name or if there are plans to change the name and the hotel and casino.

Currently T.I welcomes visitors from varied budgets. With its revamped rooms and updated d├ęcor throughout the hotel the rooms currently range in rates starting from $69 dollars per night for a low volume weekday going up to $499 a night for a popular weekend day.

MGM is selling this hotel in an effort to refocus and perhaps make an effort to capture some of the lost funds that they have been experiencing in the last year. All throughout Vegas, casinos and hotels are feeling a chill in the air as the economy continues to weaken and the stocks continue to drop.

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