What happens in Vegas, stays in Vegas.

The same can’t be said for the island of Lanai.

"What happens on Lanai, everyone knows about. The island is just that small," said resident Ralph Black, whose family has been on Lanai since 1963.

Black, 64, was one of many to receive confirmed reports Wednesday that Oracle CEO Larry Ellison would buy the former Pineapple Island for an undisclosed price from Castle & Cooke CEO David Murdock.

"Rumors are a lifestyle here. We were all just waiting for the who and the how much," said Black, who got the final word from his brother via a phone call from Virginia.

A 1966 Lanai High School graduate, Black practiced law on Hawaii island for more than 20 years. Last year, he returned to Lanai and now owns Lanai Guns & Ammo LLC.

As a lawyer who specializes in trusts, Black said he is very familiar with and has been following the issues surrounding the 89-year-old Murdock’s decision to sell.

"Murdock is very senior in age and I know that had a lot to do with the decision. There are so many logistics to a trust, especially one so big like his. Selling, in my opinion, was the best option," Black said.

"I’ve heard Ellison’s name on multiple occasions and everything has always been positive. I’m still very optimistic."

Jenna Majkus, 39, owner of The Local Gentry, a small clothing boutique in Lanai City, said she also heard Ellison’s name a few times and the talk about selling the island didn’t bother her.

"I’ve been on Lanai since 1994 and talk of something big like this happening has always been up in the air and I made the decision a long time ago that whatever was to happen, I would make best of the situation," Majkus said.

From a business owner’s point of view, she said, she applauds Murdock for having the drive to help Lanai’s economy.

"I don’t even want to know what this island would be like if the Murdock name didn’t exist," she said.

From a resident’s stance though, Majkus said, that whatever Ellison has planned she hopes that the flavor of Lanai still remains.

"This is an island with no street lights and very little commercial development. It would be a shame to see that drastically change," she said.

Gallery owner and artist, Mike Carroll, 58, who came from Chicago 11 years ago, said the "laid-back" lifestyle is why he and his wife, Kathy, decided to make Lanai their home. Like Maj­kus, he doesn’t want to see that disappear.

"You can’t always have your cake and eat it, too, so I understand there needs to be some compromise, but I don’t want to see Jet Skis in Hulopoe Bay," he said.