No price was revealed when Las Vegas billionaire Phil Ruffin’s Casino Miami LLC purchased from Fronton Holdings the real estate of Casino Miami in Miami, Florida. But a deed in Miami-Dade County records indicates the purchase price was $23.15 million. The 21-acre property at 3500 N.W. 37th Avenue has 1,000 slot machines, a performance venue and a jai-alai fronton. The deal was announced on December 6. Ruffin owns the Treasure Island Hotel and Casino in Las Vegas. Fronton Holdings is managed by Chief Executive Officer David Jones.
The deed showed compensation only for the real estate and may not include any additional money paid, such as for business licenses and non-real estate assets.
Ruffin could add another 1,000 slots under Casino Miami’s license and also develop additional facilities around the building since most of the land is a surface parking lot.
