US – Treasure Island in the market for Caesars’ Las Vegas casinosBy Phil - 7 May 2019
Treasure Island owner Phil Ruffin has said he would buy Caesars Entertainment’s casinos on the Las Vegas Strip properties if they were for put up for sale.
Caesars’ Strip properties include Ballys, Caesars Palace, Harrah’s, Paris, Planet Hollywood, Rio and The Cromwell.
Mr. Ruffen said to the Las Vegas Review: “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.”
He said he could borrow six times a casino’s cash flow for properties that generate $200m to $300m.