stomper
11/13/2007 11:18:11 AM
The New Frontier hotel and casino has been sold by Phil Ruffin to Elad Properties who intend to implode the Frontier and replace it with a $5 billion hotel based on New York’s Plaza Hotel. Ruffin had plans to implode the Frontier later this year and develop a $2.6 billion Swiss-themed resort called the Montreux, which I wrote about only two days ago!
Now though, he’s decided that the better option is to sell to Elad Properties for $1.2 billion, and let them take the risk of competing with the Frontier’s huge new neighbours that are currently being built.
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