Treasure Island

Across the road, facing the Palazzo, stands Treasure Island, often simply called “TI.” This hotel-casino opened in 1993 and was developed by Steve Wynn, the same developer behind Wynn and Encore. Inspired by the famous novel Treasure Island by Robert Louis Stevenson, the resort was built for about 430 million dollars on land that had previously served as a parking lot for the neighboring Mirage hotel. When it opened, Treasure Island was part of a period when Las Vegas was trying to reshape its image and attract families with themed resorts and free attractions. Other hotels from that era followed the same idea, like Excalibur with its medieval castle or Luxor with its giant pyramid. Here, the theme focused on pirates, something that was especially visible in the artificial lagoon at the entrance, where a spectacular free show once took place featuring pirate ships, explosions, and special effects. The show, called the Battle of Buccaneer Bay, was performed more than 16,000 times between 1993 and 2003. Despite its popularity, the strategy of large family-oriented resorts did not fully succeed, since families generally spent less money than adult visitors who came mainly for gambling. Starting in the early 2000s, Las Vegas gradually returned to a more adult-focused image, and many hotels, including Treasure Island, began to tone down their original themes. A new and more modern show replaced the pirate battle for a while, but it eventually ended in 2013 because of its high operating costs. Today, the pirate ships are still visible in the lagoon and are illuminated at night. Since 2009, Treasure Island has been owned by Phil Ruffin, which makes it one of the few hotels on the Strip owned by an individual rather than by a large corporate group.