Phil Ruffin, the billionaire behind Circus Circus Las Vegas, has announced plans to sell the iconic property. With the casino on the market, rumors are rife, as the deal could be worth somewhere in the region of $5 billion.Circus Circus Las Vegas Could Be Sold Says Phil Ruffin
Ruffin plans to focus on fresh opportunities, including acquiring a larger property on the Las Vegas Strip. However, he is also open to exploring potential investments beyond Las Vegas. One thing is certain: Ruffin’s next move is bound to attract attention, given his track record of successful investments.Circus Circus Las Vegas Could Be Sold Says Phil Ruffin
Circus Circus Vegas is known for its vibrant circus-themed entertainment and family-friendly atmosphere. Opening in 1968, it quickly became a key part of the city, offering affordable accommodation and free entertainment. Over the years, the casino has undergone several changes, attracting both tourists and long-time visitors.
Currently, the casino is located on a 102-acre site at the north end of the strip, which is considered one of the best pieces of real estate to own in the United States. The impending sale of Circus Circus means the future remains uncertain, but there is plenty for investors to get excited about.
Ruffin acquired Circus Circus in 2019 for $825 million, and the property is now valued at an eye-watering $5 billion. He didn’t acquire Circus Circus for its casino operation though, it was all about the prime real estate it occupies. The sale of Circus Circus aligns with a previous deal, where he sold the New Frontier Hotel and Casino for $2.1 billion, with almost $2 billion of that being profit. No doubt he is hoping for a similar outcome from the sale of Circus Circus, but his profit this time will easily dwarf the New Frontier deal.
Beyond his ownership of Circus Circus, Ruffin also holds a significant interest in the Treasure Island Hotel and Casino in Las Vegas, after a $775 million acquisition from MGM Resorts in 2009. Ruffin has been involved with other property deals too, including the acquisition of a substantial stake in the Trump International Hotel in Las Vegas.
More recently Ruffin has expanded his investment portfolio beyond the bright lights of the Las Vegas strip. He is currently working to finalize a $200 million investment into a casino project in Kansas, Texas. With his knowledge of the casino and real estate industries, I’d expect to see a similar level of success as he ventures into other states. Who knows, with the recent growth of online betting sites, he may even consider the online space as a potential new investment opportunity.
So, the sale of Circus Circus is finally a reality, and it is sure to be another success story for Phil Ruffin. The sale of this iconic Las Vegas casino will be a monumental occasion, with the estimated value set at five billion dollars. But, where will this casino and real estate mogul look to invest next?
Everything this shrewd businessman touches seems to turn to gold, so I’m eager to see where his next investment will take him. Whether in Las Vegas or exploring new opportunities in other locations, Phil Ruffin is one to watch.
