Treasure Island (also known as "ti") is a hotel and casino located on the Las Vegas Strip in Paradise, Nevada, USA with 2,664 rooms and 220 suites, and is connected by tram to adjacent The Mirage as well as pedestrian bridge to the Fashion Show Mall shopping center. Since March 2009, the ti is owned and operated by real estate investor Phil Ruffin.The hotel has received the AAA Four Diamond rating each year since 1998.
Treasure Island was opened by Mirage Resorts in 1993 under the direction of Steve Wynn at a cost of $450 million. It was designed by architect Joel Bergman. The initial plans called for a tower addition to The Mirage, but later evolved into a full-fledged separate hotel casino resort. Treasure Island originally intended to attract families with whimsical pirate features and icons such as the skull-and-crossbones strip marquee, a large video arcade, and staged pirate battles nightly in "Buccaneer Bay" in front of the casino entrance on the Strip.In 2003, the hotel largely abandoned its pirate theme for a more contemporary resort in efforts to focus more on adults. The original arcade and kid-friendly pool areas were replaced with an adult-friendly hot tub, contemporary nightclub and party bar. The famous skull-and-crossbones sign at the Strip entrance was replaced by one reading simply "ti" that is also a large LCD video screen.On July 4, 2008, Christian Audigier The Nightclub replaced the Tangerine Nightclub.On December 15, 2008, MGM Mirage announced the resort would be sold for US$775 million to Phil Ruffin, former owner of the New Frontier Hotel and Casino. Ruffin took full ownership of the hotel and casino resort on Friday, March 20, 2009.