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Rumor: New Frontier Sold?

By Chuckmonster on Tuesday, 20th March 2007 11:03am
  » filed under Las Vegas  comments: 1


This link has spread like wildfire through the Vegas blogosphere so we'll post it here as well. Apparently Israeli based developer El Ad Properties owners of The Plaza hotel in New York City have apparently purchased the New Frontier for a whopping $1.5 billion smackers - $40 million per acre.

El Ad has yet to reply to our request for more information. Knowing what an indecisive guy Phil Ruffin is, we don't have high hopes for this rumor quite yet. Three aspects of this rumor seem a little dubious: El Ad Properties dosen't have any history in the gaming industry, New Frontier Phil Ruffin is legendary for not making any decisions, Donald Trump may have a say in the negotiations.

The price may be right for Ruffin to walk away though... stay tuned.



Comments & Discussion:

Here's my take on the situation. Ruffin sells to El Ad, who'll run the hotel end of things and Trump Entertainment Resorts runs the casino part of the property. Trump has been flirting with Vegas too long, and ever since he sold his stake in the Riv (I have a feeling EL Ad could come into play there as well.) everyone keeps thinking he's getting ready to jump feet first and finally bring the Trump name to a casino in Vegas.

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