The sale of Circus Circus, a historic casino-hotel on the north Las Vegas Strip, is being considered by Phil Ruffin, the owner of both Treasure Island and Circus Circus. Ruffin is reportedly worth about $5 billion for the 102-acre property.
Ruffin, who purchased Circus Circus from MGM Resorts in 2019 for $825 million, plans to reinvest proceeds from the sale into acquiring another Strip property. Highlighting the land’s strategic significance, Ruffin explained, “It’s the best piece of land on the West Coast. It’s got the highway, the Sahara, 2,000 feet on the Strip, and 102 acres is a massive amount of land — you can almost build a city on it.”
This approach aligns with his earlier success with the Frontier property, which he bought for $165 million and sold for $1.2 billion. Ruffin emphasized the importance of land in his investment strategy, stating, “Why do you think I bought Circus Circus? For the 102 acres. That’s the land play.”
Development Opportunities and Future Prospects
Circus Circus, known for its family-friendly offerings like the Adventuredome amusement park and live circus acts, has been a staple of Las Vegas since its 1968 opening. The property caters to budget-conscious visitors, offering affordable dining options and attractions.
The potential sale comes amid increased development activity on the north Strip. Nearby projects include a 2,605-unit hotel and condo complex, an 18,000-seat arena, and the expanded West Hall of the Las Vegas Convention Center. However, neighboring properties such as Resorts World Las Vegas and Fontainebleau are contending with financial challenges.
Ruffin’s next move may involve another Strip acquisition or ventures in other states. Potential targets include a $200 million racino project in Wichita, Kansas, and Casino Miami in Florida. “I have my eyes on some properties. It could be in another town if it’s good enough,” Ruffin noted.
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