The property has generated 'about $60 million in revenues through the first 10 months of 2018' according to The University of Nevada-Las Vegas Center for Gaming Research. 'Ruffin believes existing licenses like Casino Miami's are now that much more valuable,' explains The Miami Herald. An example of such happened this week with reports that Phil Ruffin, the 83-year-old billionaire businessman and owner of the Treasure Island Hotel and Casino in Las Vegas, has purchased Casino Miami in Florida located near the Miami International Airport for an undisclosed sum.Īs The Miami Herald reports, last month's passage of 'Amendment 3' by Florida voters had a direct effect on the deal, since one consequence of the amendment's passage will be new licenses might prove harder to come by in Florida given that they will each require voter approval. The November elections happened only a month ago, but the results of some votes have already led to some industry deals being made. Billionaire Phil Ruffin Purchases Casino Miami This week's Inside Gaming starts with the acquisition of a Miami property by a well-known Las Vegas casino owner, shares a new study about gambling's effects conducted in Massachusetts, tells of increased competition in New England caused by MGM Springfield, and reports on a sportsbook deciding to pay out college football national championship wagers more than a month before the title is even decided.

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