Phil Ruffin

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Phillip G. Ruffin is an American businessman and self-made billionaire. His business interests lie largely in casinos, greyhound racing tracks, oil production, convenience stores, and real estate. Ruffin lives in Wichita, Kansas.

Ruffin has been listed on the Forbes 400 list of the country's richest people multiple times, most recently at #278 in 2005.[1] In the 2006 list, he was listed at #606 on the Forbes Magazine list of the world's billionaires, with a reported net worth of $1.3 billion.[2] (This figure was before his 2007 record-setting sale of the New Frontier Hotel and Casino on the Las Vegas Strip.)

Contents

[edit] Personal

Ruffin's reputation is one of shying away from press coverage and publicity, so many details of his life are not well cited. Forbes listed him at age 70 in 2006, having been married and divorced once with three children, and a college dropout.[2] He is engaged to be married again; Ruffin refuses to publicize her name, but she was seen by his side as Ruffin awaited returns from a referendum on legalizing slot machines at his greyhound track in Wichita.[3]. She is thought to be Miss Ukraine 2001 title holder supermodel Oleksandra Nikolayenko. (http://www.odessa.ua/news/11845/)

[edit] Businesses

[edit] New Frontier Hotel and Casino

Ruffin is best known for his purchase of the New Frontier, one of The Strip's most historic properties. When he bought the resort, it had been mired in a longtime, sometimes violent strike with the Culinary Workers Union, one of the most powerful unions in Las Vegas. Ruffin settled the strike very soon after his purchase in 1999.

Ruffin announced plans to raze the New Frontier and replace it 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 was the largest per-acre price in The Strip's history. [4]

[edit] Trump International Tower

Ruffin's joint venture with his good friend Donald Trump involved a portion of the New Frontier land. The Trump International Hotel and Tower (Las Vegas), built immediately adjacent to the Fashion Show Mall, broke ground in July 2005, and is nearing compleiton.[5] Ruffin has half interest in the development, having contributed the land for his part of the deal.[6]

[edit] Greyhound tracks

Ruffin's company owns Wichita Greyhound Park. On August 7, 2007, Ruffin announced that he would close the track, after a referendum to allow slot machines or casino gambling at the track failed. [7]

[edit] Convenience stores

Ruffin Companies' web site states that the company owns 61 convenience stores leased to Total and operated by Diamond Shamrock over a three-state area.[8]

[edit] Lodging

Ruffin's Hotel Group division owns and operates 13 hotels under the Marriott Hotels, Fairfield Inn and Courtyard by Marriott brands in Oklahoma, Kansas, California, Texas and Alabama.[9]

[edit] Real estate

Ruffin owns various commercial real estate holdings in Kansas and in the Tulsa, Oklahoma area.

[edit] Harper Trucks

Ruffin owns and operates Harper Trucks, the nation's largest manufacturer of hand trucks.

[edit] References

  1. ^ "Forbes 400: #278 Phillip Ruffin", Forbes Magazine, 2005. 
  2. ^ a b "Billionaires: #606 Phillip Ruffin", Forbes Magazine, 2006. 
  3. ^ Wenzl, Roy. "After slots loss, Ruffin moves to next deal", The Wichita Eagle, 2007-08-12. 
  4. ^ Stutz, Howard. "MORE THAN $1.2 BILLION: New Frontier sale sets record", Las Vegas Review-Journal, 2007-05-16. 
  5. ^ Ruffin Companies: Ground Broken on Trump International Hotel and Tower Las Vegas
  6. ^ Who Owns Vegas: Ruffin Companies
  7. ^ Laviana, Hurst; Dion Lefler. "With slots out, Ruffin says he'll close track", The Wichita Eagle, 2007-08-07. 
  8. ^ Ruffin Companies: Properties
  9. ^ Ruffin Companies: Hotel Group

[edit] External links