Phil Ruffin on Ralston Live November 2015

One day after MGM Resorts CEO Jim Murren was on Ralston Live, Treasure Island owner Phil Ruffin made an appearance on the program.

Fighting back a cold, Ruffin talked about his failed attempt to purchase the Mirage for $1.3 billion, and his close relationship with Donald Trump.

I thought it was interesting there was no mention of Fontainebleau, which is currently for sale. I would have liked to hear if Ruffin is interested in buying the property, although by other comments in the interview I'm sure the answer would have been no.

Fontainebleau For Sale - Who Will Buy?

The Wall Street Journal reported today that Carl Icahn is looking to sell the Fontainebleau. The property will be listed by CBRE for $650 million.

I immediately starting thinking about who might be a candidate to buy and finish the stalled Fontainebleau project. I'm going to spend the rest of this blog post speculating about which companies might be in the mix.

MGM Resorts International and Caesars Entertainment are the two largest Las Vegas hotel/casino companies but neither of them are really looking to expand in Vegas at the moment. Plus MGM will be completing a REIT conversion soon, and Caesars is going through a partial bankruptcy. I don't see either of these giants buying Fontainebleau.

Wynn Resorts boss Steve Wynn has long said he doesn't want to build in Las Vegas again. His frustration with the Macau government and endless headaches getting his Boston project off the ground might have him singing a different tune though. The rub: Wynn likes to build from scratch and the Fontainebleau structure might not be a blank enough slate for architect DeRuyter Butler and designer Roger Thomas to work their magic.

Like Wynn, Las Vegas Sands and Sheldon Adelson have shown a lack of interest in building anything new in Vegas. I actually think the Fontainebleau would be a great fit though. LVS has deep pockets so finishing the resort wouldn't be a problem, and the location near the planned convention center expansion would fit right in with their convention heavy business model. The best part: They could call the property Sands Hotel and Casino resurrecting an iconic Las Vegas brand.

Speaking of iconic properties: Boyd Gaming has been looking to get back on the Strip ever since they demolished The Stardust and failed to replace it with Echelon Place, later selling the property. While I would be in favor of Boyd buying Fontainebleau and renaming it The Stardust (or Borgata Las Vegas perhaps?) it seems unlikely they would undertake such a large project so shortly after abandoning Echelon.

Penn National was seriously considering purchasing Fontainebleau before ultimately losing out to Carl Icahn. Since then they have entered the Las Vegas market with purchases of M Resort and later Tropicana. If Penn was unwilling to spend $150 million to buy Fontainebleau in 2010 I'm guessing they don't want to spend $650 million in 2015.

Treasure Island owner Phil Ruffin was in the news earlier this week as it was reported he made a recent $1.3 billion failed bid to buy The Mirage. If Ruffin has that much cash to spend could he possibly want to buy the Fontainebleau? It seems like a real possibility to me.

Other regional operators like Eldorado Resorts, Golden Entertainment, Full House Resorts, and Pinnacle Entertainment are likely eager to get into the Las Vegas market but probably don't have the money to make a deal like Fontainebleau happen. Could one of these companies partner up with a rich benefactor like Ruffin to get it done?

Lastly and perhaps most likely to buy Fontainebleau are private equity real estate companies. Cosmopolitan parent company Blackstone might be a possibility if they are looking to expand their casino holdings. Once rumored Mirage buyer Starwood Capital might also be looking to buy.

Gourmet Hot Dogs in Las Vegas

The odd topic of whether a hot dog should be considered a sandwich has engulfed the internet. While I don't really care if a hot dog is a sandwich, it got me thinking.

Where can you get a good hot dog in Las Vegas? Gourmet hamburgers have been all the rage for a while now, but what about dogs?

American Coney Island - Located at The D on Fremont Street this brand has been a Detroit staple for almost 100 years. They are famous for hot dogs with secret recipe Coney Island Chili Sauce.

Pink's - In the Miracle Mile shops at Planet Hollywood this is a Las Vegas outpost of the world famous hot dog stand in Los Angeles. Along with Classic Dogs you can also opt for one of their Special Dogs with all kinds of fun toppings.

Haute Doggery - At The Linq promenade this shop is affiliated with the same people who run Pink's. It looks like Haute Doggery is less chili focused and more inspired by classic mustard and relish.

Shake Shack - Located at New York New York Shake Shack is more known for burgers, but they actually started as a New York hot dog cart. Their flat top dogs come in four different styles, including a chicken version.

Little Richie's - At Treasure Island. Perhaps less gourmet than the others listed here, Little Richie's specializes in Chicago-style hot dogs, Italian beef sandwiches, and Polish sausages. It looks like a good spot to grab some drunk food if you're in the neighborhood of Treasure Island.

Tennis Court Arena at Caesars Palace

A temporary tennis court arena was recently installed in front of Caesars Palace to host a celebrity charity event.

Billie Jean King and Elton John hosted Mylan WTT Smash Hits benefiting the Elton John Aids Foundation (EJAF) and local AIDS organizations. The event has raised more than $13 million since its inception.

This is the first time the event has been in Las Vegas. This year's event raised over $1 million.

Andre Agassi, Stefanie Graf, Martina Navratilova, Tracy Austin, James Blake, Mardy Fish, Lindsay Davenport and Andy Roddick were among the tennis stars playing.

Tennis Channel tweeted this picture of the setup during the day. Appropriately the Elton John Caesars marquee was in the background along with Mirage and Treasure Island.


Caesars Palace tweeted this picture of the arena during the event at night, with Caesars in the background.


Andre Agassi tweeted this picture of himself with wife Steffi Graf and Flamingo in the background.

Mirage Volcano Cutting Showtimes

The famous volcano in front of The Mirage will be reducing the number of times it erupts per night. The volcano showtimes will be 8 and 9 pm on weekdays (Sunday through Thursday) with an additional 10 pm show on weekends (Friday and Saturday).

Previously the volcano had erupted every half hour from dusk until midnight. It has operated since the hotel opened in 1989. The volcano was upgraded in 1996 and underwent another major renovation in 2008.

Unfortunately this marks another reduction of free attractions on the Strip. The MGM Grand lion habitat,the Pirate Show at Treasure Island, and the Rio Show in the Sky were some other free attractions that closed recently. While the volcano isn't closing completely it's upsetting nonetheless.

It appears MGM Resorts International is reducing the volcano's hours as a cost cutting measure. MGM has also been selling assets recently. It seems like they need money for something. I guess they are watching their pennies closely with the $1.2 billion MGM National Harbor starting construction, along with Massachusetts and Macau projects underway.

Mystere getting Zed Infusion

Today marks the beginning of a month long closure of the Treasure Island Cirque du Soleil show Mystere, as it undergoes a minor makeover.

Robin Leach reported the key changes will include the addition of a trapeze act from the Japanese Cirque show Zed.

Zed was a popular show at Tokyo Disney Resort. The show opened in 2008, but unfortunately was recently canceled due in part to effects of the March earthquake.

It appears that elements from Zed will also be added to Cirque's ill-fated Viva Elvis show at Aria.

Carlos'n Charlie's coming to Flamingo

The popular Mexican restaurant and bar chain Carlos'n Charlie's will be opening a location at Flamingo this winter.

The restaurant will be located next to the sportsbook and will feature an outdoor terrace space overlooking the back courtyard area.

I think this will be a nice addition to Flamingo, and should go along well with their other tropical themed restaurant, Margaritaville.

Carlos'n Charlie's is owned by the same company as another premiere Mexican watering hole, Señor Frog's, which is also opening a location in Las Vegas later this year at Treasure Island.

Sirens Sip - Outdoor Lounge opening at TI

Treasure Island announced that they are opening a new outdoor cocktail lounge called "Sirens Sip." The lounge will overlook Sirens Cove and should provide great views of the show.

The spot will be open Tuesday through Sunday from 5-11 pm. Not sure about cover charge, but the TI facebook page mentions a 2 drink minimum, so I think it's probably free admission with the drink minimum.

This space used to be occupied by the now-closed Christian Audigier nightclub, a club that was frequently voted worst nightclub in the city. Sirens Sip is taking over the outdoor space of the club, and the indoor space will be filled by another bar or club later this year.

Sirens Sip looks pretty nice, and it definitely seems like a better way to watch the Sirens show than fighting the crowd on LVB. Given the hours and location, I'm guessing this will draw an older crowd, probably a great place for a married couple to grab a few cocktails after dinner without going to a true "nightclub."



Source: Treasure Island Facebook.

Summer of Cirque - $50 Tickets

Cirque du Soleil is running a summer promotion where tickets for most shows will start at $50. Dates and ticket locations are limited, but it could turn out to be a good deal if you can find a show you want to see on a date that works for you.

The available shows:

* Mystere from $50 + fees
* Zumanity from $50 + fees - offer code: zumanity
* KA Live from $50 + fees - offer code: MGM
* The Beatles LOVE from $50 + fees
* CRISS Angel from $50 + fees - offer code: luxor
* Viva ELVIS from $50 + fees - offer code: ARIA

Deal found at Slickdeals.net.
Go to Cirque du Soleil to buy tickets.

Gilley's re-opens at Treasure Island

Gilley's - the country bar with the trademark mechanical bull and slogan "Cold Beer... Dirty Girls" has re-opened at Treasure Island.

Gilly's was previously at the New Frontier, but it closed down along with that hotel in 2007. When former New Frontier owner Phil Ruffin bought Treasure Island he decided to bring Gilly's to his new property.

Ruffin reportedly spent $10 million to remodel and open the new version of Gilly's, which will feature great views of the strip.



Image Credit: Byron Edwards.