Phil Ruffin denies a sale of the New Frontier at $1.5 billion ($40 million an acre give or take a few dolalrs) to El Ad, the real estate development company that among other things has bought the Plaza in NYC. But the two are in discussions.

L.V. Review/Journal article:

http://www.reviewjournal.com/lvrj_home/2007/Mar-21-Wed-2007/business/13295159.html