his purchase in 1998. Soon after, the casino-hotel became known as the New Frontier. In 2005, Ruffin announced plans to demolish the New Frontier and replace it in 2005 with a new resort to be called The Montreaux, but the development never got off the ground. Ruffin sold the New Frontier to El Ad Properties in 2007. The $1.2 billion sale price for the property was the largest per-acre price in The Strip's history. Treasure Island MGM Mirage sold Treasure Island Hotel and Casino (TI) to Ruffin in March 2009. The negotiated price was $600 million in cash and $175 million in secured notes. Ruffin estimates that to build a casino like Treasure Island from the ground up would cost $2.7 billion. In calendar year 2008, Treasure Island reported $376M in revenue (down from $431M in 2007) and $101M in EBITDA. Ruffin expressed his lack of concern about buying a casino in a down market, because the TI will have very little debt. Ruffin took complete ownership of the hotel and casino resort in the early morning of March 20, 2009. In February 2018 he said he had turned down a "huge" offer for TI from a Chinese firm, explaining that Strip assets are "irreplaceable." "There isn't any price they could throw at me that would interest me," he said. "Money is not that valuable. Assets are valuable, especially when they are irreplaceable." Trump International Tower Ruffin's joint venture with his friend Donald Trump involved a portion of the New Frontier land. The Trump International Hotel and Tower, built immediately adjacent to the Fashion Show Mall, broke ground in July 2005. The tower opened in March 2008, and plans for an identical second tower were announced. Ruffin has a half-interest in the development, having contributed the land for his part of the deal. Circus Circus MGM Resorts International sold Circus Circus Las Vegas to Ruffin in December 2019 for $825 million. The purchase includes the adjacent Slots-A-Fun Casino, the Adventuredome amusement park, and adjacent open space. Ruffin plans to add to the property a swimming pool complex with a wave machine, sand beaches and a lazy river ride. Wichita Greyhound Park Ruffin's company owns Wichita Greyhound Park. On August 7, 2007, Ruffin announced that he would close the track, after a voting referendum to allow slot machines or casino gambling at his dog racing track failed by a narrow margin.