Phil Ruffin Companies

Ruffin is an accomplished entrepreneur who has been involved in several
different businesses over the years. His most profitable business endeavors
involve the purchase of casinos in both the Bahamas and Las Vegas. His
willingness to take risks and act on his customers’ complaints has lead to those
businesses becoming huge successes.

They were so successful, in fact, that Phil Ruffin is currently worth more
than $2.8 billion. To learn more about Phil Ruffin and his impact on the casino
industry, please continue reading this extensive biography.

Early Years

Phillip Gene Ruffin was born on March 14, 1935, in Potter County, Texas.
Ruffin was the 5th child born to his family, having 2 older brothers and 2 older
sisters. His parents were immigrants from Lebanon who moved to the United States
in pursuit of religious freedom and financial prosperity. Shortly after Ruffin
was born, his family moved to Wichita, Kansas, which is where he spent the
majority of his childhood.

He attended Wichita North High School from 1950-1953. He got decent grades in
school, but it was his athletic abilities that he will be remembered for. He was
a wrestling champion that broke several of the school’s records, earning himself
a full-ride scholarship to Washburn University. Ruffin was hesitant to attend
Washburn at first because he had initially wanted to go to an out-of-state
school to get some much-needed space from his parents, but he just couldn’t turn
down free tuition.

Phil Ruffin: Casino Mogul and Businessman Ruffin is an accomplished entrepreneur who has been involved in several different businesses over the years. His most profitable business endeavors involve the purchase of casinos in both the Bahamas and Las Vegas. Companies for Phil Ruffin Known Addresses for Phil Ruffin 1522 S Florence St Wichita, KS 67209 PO Box 17087 Wichita, KS 67217 PO Box 12330 Wichita, KS Brooks St Montclair, CA Airport Plaza Dr Long Beach, CA E 77th St N Valley Center, KS 67147 630 W John Carpenter Fwy Irving, TX 75039. Ruffin’s empire is worth more than $3 billion, as he owns the Treasure Island Hotel & Casino as well as half of the Trump International Las Vegas hotel. Forbes also estimated corporate reserves of. Company Description The Ruffin Companies represent diverse real estate, lodging, manufacturing, energy, and retail enterprises, all 100% owned by a single stockholder. Based in Wichita, Kansas these companies have achieved the efficiencies of centralized, highly focused management and the economics of scale and scope of activity.

After refusing to declare a major during his first two semesters of college,
Ruffin finally settled on a degree in business. He managed to end his freshmen
and sophomore years with a GPA of 3.0 or higher, but his junior year was quite
challenging for him. His grades started to slip, causing him to feel very
overwhelmed. Once the wrestling season had ended that year, Ruffin decided to
drop out of college and start his own business instead.

Ruffin was the first entrepreneur to bring self-serve gas stations to Kansas.
He had to overcome a lot of opposition from major oil companies, who were
hesitant to allow him to do this, as they thought women wouldn’t be able to pump
their own gas and men in suits wouldn’t want to. Once he finally got the oil
companies on board, he launched his first self-service gas station/convenient
store in Wichita, Kansas. After seeing how successful it was, he got permission
to open 60 more gas stations across the Midwest.

From the money he made through those gas stations, he was able to build his
first hotel: a Marriot in Wichita. Right from the start, Ruffin seemed to have a
knack for the hotel business. He worked hard to make accommodations for his
guests, and their satisfaction was always his number-one priority. The news of
his hotel services spread, causing his Marriot to constantly be booked solid.
Ruffin eventually opened up 10 other hotels in Kansas, with the revenue from
those hotels making him a multi-millionaire.

Wichita Greyhound Park

In 1989, Wichita Greyhound Park opened its doors, becoming the first
greyhound racetrack to make its way to Kansas. In 1990, it had attracted
approximately 800,000 people. By 1996, its popularity had already started to
decrease, bringing in only 400,000 people that year. Thinking he could turn the
business around, Ruffin purchased the property the following year.

Ruffin upgraded some of the racetrack’s features but was still not seeing the
kind of revenue he wanted. He sought permission from the government to allow
slot machines to be added to the racetrack, as he believed this would
significantly increase the racetrack’s yearly revenue. After his request had
been denied, Ruffin decided to close the racetrack for good.

The Casino Industry

Around the same time Ruffin got involved with the Wichita Greyhound Park, he
started to direct his attention towards the casino industry. He purchased the
Crystal Palace resort in the Bahamas for $80 million because he noticed that
tourism there was at an all-time high. After taking over the casino and making
some necessary changes to personnel, he started to make a decent profit. When it
finally came time to sell the casino, he was able to walk away from the deal
with $147 million to his name.

Two years later, he made his first Las Vegas casino purchase. He bought the
New Frontier Hotel and Casino, even though it was 57 years old at the time and
falling apart. The first challenge he had to overcome was resolving issues with
the Culinary Workers Union who had been picketing outside the casino on and off
for six-and-a-half years. After a two-and-a-half-hour discussion and some
compromises, Ruffin was able to get the strikers to leave the casino’s premises
for good.

Once that was settled, Ruffin began making renovations. He updated the
kitchens in all the suites and added a fresh layer of paint to every inch of the
resort. He brought in new slot machines for the casino and started paying for a
variety of entertainers to come in and perform for his guests on a regular
basis. After about a year, the once-vacant casino was flooded with guests. There
were even points where The New Frontier Hotel and Casino was so booked that they
had to start turning people away. In 2007, Ruffin sold the casino to El Ad
Properties for $1.2 billion. Thanks to his renovations, the property became the
most expensive per-acre purchase in the Strip’s history.

The next casino Phil Ruffin set his sights on was the Treasure Island Hotel
and Casino, which he purchased from the MGM Mirage for $775 million in 2009.
Treasure Island has 2,664 rooms and 220 suites. It is known for its
family-friendliness and dedication to entertainment. There are staged pirate
battles that take place every night on the pond in front of the casino, and
people travel from all over the world to see it. This resort was an excellent
investment for Ruffin, as it still brings in nearly $400 million in revenue each
year. It was this casino that took him from a multi-millionaire to a
multi-billionaire.

Ruffin has been able to do so well in the casino industry because he truly
cares about what his customers think. In an interview with Haute Living, Ruffin
explained, “I’m a strong believer in customer reviews. That’s why I’m here every
morning so early. Whatever the customers are saying, I listen. ‘Your pool closes
too early.’ OK, write that down. ‘We want bigger TVs.’ Noted.” Arriving at his
office at 5 am each morning, he personally reads every complaint that comes in
and makes changes when necessary.

Ruffin is also really strict when it comes to how he deals with his
employees. When a guest files a complaint about an employee, Ruffin will sit
them down and read the complaint to them verbatim. After giving them a chance to
explain themselves, Ruffin will let them know that this is their one and only
warning. If they don’t change their behavior, they will no longer be employed by
his company.

Phil Ruffin and Donald Trump

Ruffin and Trump first met when Ruffin traveled to Trump Towers to talk about
the possibility of adding a Trump-branded hotel to his Treasure Island casino on
the Las Vegas Strip in the early 2000s. Although that particular deal never
worked out, Ruffin did end up purchasing a half-ownership stake in the Trump
International Tower in Chicago, Illinois. He trusts Trump and has had a pleasant
experience being in business with him over the years.

Ruffin and Trump clicked from the moment they met, developing a strong
friendship. Trump was the best man in Ruffin’s most recent wedding, and Ruffin
was a huge supporter of Trump during his presidential campaign. The two continue
to get together on a regular basis and recently had lunch at the White House
just to catch up.

Personal Life

Ruffin has been married 3 times, with his first 2 marriages ending in
divorce. He has 3 children with his second wife: Phil Jr., Chris, and Michelle.
He maintains close relationships with each one of them and has put them in
charge of the various hotels he owns in Kansas.

On January 6, 2008, he married Oleksandra Nikolayenko, a supermodel from
Ukraine. They have 2 children together: Richard (born in 2010) and Malena (born
in 2013). Ruffin is very fond of his new family, having said this in an
interview, “I would recommend starting a second family to anybody-it’s really
worth it. You have to kind of relive everything.” Ruffin spends his free time
watching his son play baseball and joining in on his daughter’s tea parties.

Ruffin doesn’t gamble often, but when he does, his favorite game to play is
poker. He plays Texas hold’em with a few friends about once a month to hone his
skills. He is actually a decent poker player who even made an appearance on the
7th season of GSN’s High Stakes Poker. While on the show, he competed against
professional players like
Doyle Brunson
and Barry
Greenstein.

Phil Ruffin Wife

Wrap Up

Phil Ruffin is a well-respected businessman who has made a fortune through
his dedication to the hotel and casino industry. His most significant purchase
was the Treasure Island Hotel and Casino, which he still owns and operates to
this day. We are thankful for his willingness to make improvements to the
casinos he purchases, and we look forward to seeing what his next project will
be.

Over $21 million in very uncommon repayments from the Las vegas, nevada resort Donald Trump has with Phil Ruffin had been routed through other Trump businesses, then directed to Mr. Trump.

Tax records expose a lot more than $21 million in very uncommon repayments from the nevada resort Donald Trump has with Phil Ruffin, routed through other Trump businesses and settled in money.

Donald J. Trump required cash.

Their “self-funded” presidential campaign ended up being quick on funds, in which he ended up being struggling to conquer leery Republican donors. His tennis courses therefore the resort he would quickly start when you look at the Old postoffice in Washington were eating away at exactly exactly just exactly what money he had kept readily available, their income tax documents reveal.

As well as in very very early 2016, Deutsche Bank, the final lender that is big using the services of him, unexpectedly rejected their ask for a loan. The funds, Mr. Trump had told their bankers, would help shore up their Turnberry tennis resort in Scotland. Some bankers feared the cash would be diverted to instead their campaign.

That Mr. Trump sold a lot of stock — $11.1 million worth january. He offered another $11.8 million worth in . In he sold $8.1 million more april.

As well as the president’s long-hidden taxation documents, acquired by the brand new York circumstances, additionally expose this: exactly just just how he designed an abrupt windfall that is financial a lot more than $21 million with what professionals describe as extremely uncommon one-off payments through the nevada resort he has along with his buddy the casino mogul Phil Ruffin.

In past articles from the taxation documents, the occasions has stated that, in most just a few years since 2000, chronic company losings and aggressive accounting techniques have actually permitted Mr. Trump to mostly avoid spending federal taxes. And even though the vast sums of bucks made from “The Apprentice” and his attendant celebrity rescued their company profession, those riches, alongside the advertising energy of this Trump brand name, had been ebbing as he announced their 2016 run that is presidential.

Phil Ruffin Companies Las Vegas

The latest findings, an element of the days’s continuing research, cast light on Mr. Trump’s economic maneuverings for the reason that time of financial chaos and not likely victory that is political. Indeed, they could give you a hint to 1 regarding the suffering secrets of their campaign: In its waning days, as his or her own providing had slowed up to a trickle, Mr. Trump contributed ten dollars million, making people that are many in which the rush of money had originate from.

The taxation documents, by their nature, try not to specify whether or not the significantly more than $21 million in re re re payments through the Trump-Ruffin resort helped prop up Mr. Trump’s campaign, his organizations or both. However they do show how a money flowed, in a string of deals, to many Trump-controlled organizations and then straight to Mr. Trump himself.

The majority of the amount of money experienced a business called Trump Las Vegas product product Sales and advertising which had small income that is previous no clear company function with no workers. The Trump-Ruffin venture that is joint all of it down as a small business cost.

Professionals in taxation and campaign-finance legislation consulted by the occasions stated that while extra information had been needed seriously to measure the legitimacy associated with re re re re payments, they are often legitimately problematic.

“Why out of the blue performs this business do have more than $20 million in charges which haven’t been there before?” stated Daniel Shaviro, a teacher of taxation during the ny University class of Law. “And all this cash is planning to a guy whom simply is actually operating for president and could n’t have lots of cash on hand?”

Unless the re re re payments had been for actual company costs, he stated, claiming a taxation deduction for them could be unlawful. They could be considered illegal campaign contributions if they were not legitimate and were also used to fund Mr. Trump’s presidential run.

In reaction to questions about the days’s findings, a White home spokesman, Judd Deere, referred to the article as “yet another politically motivated hit piece inaccurately smearing a typical company deal.” He included that “during his years as being a businessman that is successful Donald Trump ended up being longtime lovers with Phil Ruffin and earned whatever re payments he received.”

A spokeswoman for Mr. Ruffin, Jennifer Renzelman, stated Mr. Ruffin wasn’t mixed up in day-to-day operations for the resort, incorporating that “all income income income tax statements go directly to the social those who work with their fees.”

Its reasonable to express that, on the years, Mr. Ruffin happens to be really substantial to their buddy. Whenever Mr. Trump took the Miss Universe pageant to Moscow in 2013, the 2 males flew over together on Mr. Ruffin’s jet that is private. He would add significantly more than $2.5 million to Mr. Trump’s campaign, their foundation that is ill-starred and inaugural.

And following the inauguration, Mr. Ruffin would require a benefit. Would the president help restore a project that is dormant of value to many effective people in Las Vegas — a bullet train that could whisk gamblers from Southern Ca to your Strip in under 90 mins?

Four years early in the day, Barack Obama’s management had considered, but ultimately decided against, a $5.5 billion loan for the train. Mr. Trump enjoyed the concept, Mr. Ruffin told Forbes in a 2017 meeting.

By The Brand New York Days

“Obama wouldn’t accept it, but possibly Donald will,” Mr. Ruffin stated.

Exactly exactly exactly What Mr. Trump did from then on isn’t clear. But around Las vegas, nevada, word for the president’s interest ended up being gratefully gotten. “Anybody getting the president’s ear truly — not merely to own a gathering and also have it get into a clear container this is certainly 12 miles deep it,” the Las Vegas mayor, Carolyn Goodman, said in an interview— I am all in favor of.

This past March, a panel composed mainly of Trump appointees offered the train business authorization to offer $1 billion in tax-free bonds to personal investors. Authorities in California and Nevada dropped lined up, approving extra bonds. Trains could start operating the moment how many payday loans can you have in Michigan 2024.

One of the train’s main beneficiaries will likely be Mr. Ruffin in addition to other grandees of gambling who became a font that is vital of cash for Mr. Trump as he needed it many.

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And, needless to say, Donald Trump himself.