If you’re walking the Las Vegas Strip, dodging showgirls in feathers and people handing out club flyers, it’s easy to think every giant building is owned by the same two or three massive corporations. You wouldn't be entirely wrong. Most of the skyline is a tug-of-war between MGM Resorts and Caesars Entertainment. But Treasure Island—or "TI" if you’re trying to sound like a local—is a weird, fascinating outlier.
So, who owns Treasure Island casino in Las Vegas? It isn't a board of directors or a faceless REIT.
It’s one guy.
His name is Phil Ruffin. He’s a billionaire from Kansas, a longtime friend of Donald Trump, and a man who basically won the lottery by selling a different casino at the perfect time.
The $775 Million Handshake
Ruffin bought Treasure Island in March 2009. If you remember 2009, the world was basically on fire. The Great Recession was gutting Vegas. MGM Mirage (now MGM Resorts) was desperate for cash because they were sinking billions into building CityCenter. They needed to shed weight fast.
Ruffin, who had a massive pile of cash from selling the New Frontier property for $1.2 billion just before the market crashed, stepped in. He picked up Treasure Island for **$775 million**.
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People thought he was crazy to buy a casino during a global financial meltdown. Honestly, he probably just saw what no one else did: a "clean" asset with no debt. Since then, he’s turned it into a cash cow by moving away from the high-end "luxury" vibe and targeting the middle class. Think fewer $500-a-night suites and more $10 blackjack tables.
What Changed in 2025 and 2026?
Ownership questions usually get messy when big brands get involved. In late 2025, a massive deal was announced between Ruffin and the French hospitality giant Accor.
A lot of people saw the "Handwritten Collection" signs going up and assumed Ruffin sold out. He didn't. He still owns the dirt, the building, and the casino license. The deal is a franchise agreement.
Basically, Treasure Island joined Accor’s "Handwritten Collection" to get access to their global reservation system and loyalty program. It’s like a fast-food place—one person owns the building, but they pay to put the big brand name on the sign. As of 2026, Ruffin remains the sole owner, but the hotel side of things is now plugged into a much bigger international network.
Why Treasure Island Is Different
Most Vegas casinos are owned by companies listed on the New York Stock Exchange. When you have stockholders, you have to be careful. You have to follow "corporate" rules.
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Because Phil Ruffin owns Treasure Island personally, he can do whatever he wants.
- Parking is a big one. While almost every other Strip resort started charging $20+ for parking, Ruffin kept it free for years just to spite the big guys.
- The Vibe. He’s the one who brought in Gilley’s Saloon and Señor Frog’s. He wanted a party atmosphere that didn't feel like a stuffy museum.
- Personal Touch. You’ll sometimes see him on the floor. He isn't a distant CEO in a glass tower; he’s a guy who treats the casino like a family business, albeit a multi-billion dollar one.
The Steve Wynn Connection
You can't talk about who owns Treasure Island without mentioning its "father." Steve Wynn built this place in 1993 for about $450 million. Back then, it was a hardcore pirate-themed resort. Remember the "Sirens of TI" show where the ships would sink in the front yard? That was all Wynn.
When MGM swallowed Wynn’s company in 2000, they started stripping away the pirate stuff. They wanted it to be "cool" and "urban." Ruffin has kind of sat in the middle. He kept the pirate bones but added the country-western flair. It’s a bit of a Frankenstein’s monster, but it works.
Common Misconceptions
I hear people all the time saying Trump owns TI. He doesn't. Ruffin and Trump are partners on the Trump International Hotel just behind TI, but the casino itself is 100% Ruffin’s territory.
Another one is that it’s part of the Radisson family. It used to be. That was the previous franchise deal before the Accor switch in 2025. If you see an old booking site saying it’s a Radisson, it’s outdated.
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The Business Strategy (Expert Nuance)
Ruffin’s strategy is actually pretty brilliant. He targets the "value" traveler. By staying independent of the MGM/Caesars duopoly, he doesn't have to pay the same massive corporate overhead. This lets him offer lower table minimums.
During the pandemic and the recovery years leading up to 2026, TI stayed profitable because it wasn't chasing the whales (high rollers). It was chasing the people who wanted a $15 burger and a cheap room.
Actionable Insights for Your Next Visit
If you're heading to Treasure Island now that the Accor partnership is in full swing, here’s how to play it:
- Use the Loyalty Shift: If you have ALL (Accor Live Limitless) points, you can now use or earn them at TI. This is a huge change from the old days when TI was a "dark" spot for most major loyalty programs.
- Check the Parking: Even though Ruffin loves free parking, always double-check the current 2026 rates on their website before you roll up. Policy shifts happen fast in Vegas.
- The "Hidden" Tram: There’s a free tram that runs between TI and The Mirage (which is currently undergoing its own massive transformation into Hard Rock). It’s the easiest way to skip the heat.
- Book Direct: Because Ruffin is a private owner, the "exclusive" deals on the TI website are often significantly better than what you’ll find on Expedia or Booking.com. He hates paying commissions to third-party sites.
Treasure Island is a relic of a time when Vegas was run by individual personalities rather than hedge funds. Whether you love the country music and Señor Frog’s or miss the old pirate battles, knowing that one guy in Kansas is calling the shots makes the place feel a little more human.
Next Steps for You
If you're planning a stay, sign up for the TI Rewards program specifically on their site, then link it to your Accor account to double-dip on benefits before your arrival. This ensures you get the "insider" pricing that Phil Ruffin uses to compete with the big corporate giants across the street.