Treasure Island shares a 102-acre property with the Miragecasino resort. According to the SEC filing 18 acres that includesTreasure Island will be parceled off as part of the transaction,which is expected to close by the end of June 2009. Two parkinggarages not included in the transaction will continue to be sharedby both properties.
The break-up fee for the deal is $25 million. If either sidecan't perform, it would owe the other that sum and only that sum,according to the agreement.
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