RUFFIN PAYS THE PRICE FOR SUCCESS
There’s not much on the walls of Phil Ruffin’s office.
But one thing caught the eye of local writer/blogger/podcaster Steve Friess during an interview after Ruffin purchased Treasure Island recently for $775 million from MGM Mirage: It was a framed check for $171,953,438.
“That’s my check to the IRS last year,” said Ruffin, “so don’t let anyone ever tell you the rich don’t pay taxes.”
Keep in mind that Ruffin paid $167 million for the New Frontier in 1998. He sold it to El Ad Properties for $1.24 billion in May 2007.