Phillip G. Ruffin, American self-made billionaire, with business interests in casinos, greyhound racing, oil production, convenience stores and real estate, closed escrow Oct. 22 on a 9,312-square-foot home in Summerlin's Red Rock Country Club Estates.

Ruffin is the former owner of the New Frontier Hotel and Casino, which was imploded in the early morning hours Nov. 13. He sold the aging Strip property for its land value of more than $1.2 billion to El Ad Properties.

Currently, Ruffin holds a half interest in the Strip's Trump International Hotel and Tower, which is located near where the New Frontier once stood.

According to Ruffin's Realtor, Gloria Flores of Dyson and Dyson Sotheby's International, her client was unavailable for comment.

Located on almost a half acre, the newly built home was listed at $6 million by Bob Barnhart, owner of Red Rock Realty. Ruffin paid $5.7 million cash.

The seven-bedroom, nine-bath Tuscan-style home is replete with custom stone work, gourmet chef's kitchen, theatre room, separate gym, full wet bar with built-in wine captains and casita. Outdoor kitchen and fireplace are in an enclosed courtyard with an oasis pool/spa with mountain and golf views.

The master suite is 54 feet by 25 feet with a balcony, sitting room, walk-in closet separate makeup and double sink area and tubjet

. While much rhetoric has been tossed across various media in regard to the decline of the housing market in Las Vegas, Barnhart said he doesn't see it.

"Looking at the high-end sales in the past year, over 20 homes have closed above the $4 million mark in Las Vegas. With this evidence, it is apparent that our luxury market is only getting stronger and we are now on the same level as all major cities in the country," Barnhart said.

For nearly a decade, the Barnharts and Red Rock Realty have specialized in buying and selling luxury estate homes along golf courses throughout the Las Vegas Valley, as well as the growing high-rise condominium market.

For further information on available homes and home sites, visit www.goredrock.com, or call 702.804.7100.

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