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Ruffin says expect few changes at Treasure Island

San Francisco Chronicle,  Sunday, December 28, 2008 at 5:16:26 PM

Kansas businessman Phil Ruffin says he expects few changes among the employees of Treasure Island on the Las Vegas Strip after his $775 million purchase.

Ruffin says he plans to keep management at the casino-hotel intact, as well as its Cirque du Soleil and pirate shows. He also says the move won't affect the resort's 3,200 employees, including their seniority, benefits and retirement.

Ruffin, who bought the casino from MGM Mirage in a deal announced earlier this month, says he is not planning to buy any more properties unless credit markets open up. He says he does not want to take on too much debt, but would be willing to take a mortgage on Treasure Island if borrowing rates get better. the source
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