Circus Circus, the ancient 56-year-old north Strip beach that caters to people and low-budget customers, may soon be sold by user Phil Ruffin, according to a published report.
Ruffin, who also owns Treasure Island, is in Washington for President Donald Trump’s opening and was unavailable for comment Friday, but a story in business publication Forbes outlined Ruffin’s method for selling the property, saying it and the surrounding 102 acre used as an outdoor celebration basis is worth$ 5 billion.
“It’s the best piece of land on the West Coast, ” Ruffin said in the Forbes content. “It’s got the highway, it ’s got the Sahara, it ’s got 2,000 feet on the Strip, and it ’s the last Strip property. And 102 hectares is just a huge amount of land — you can about develop a city on it. ”
Ruffin said he has been approached by consumers to buy the 3,767-room house, but he did not say who the potential customers are. If he sells Circus Circus, Ruffin told Forbes he will use the proceeds to buy another home, perhaps in Las Vegas.
Ruffin’s potential selling of Circus Circus mirrors a method he used when acquiring the Frontier in 1998 for$ 165 million. After helping settle a labor dispute at the Frontier, Ruffin established the New Frontier, but ended up selling it nine years later for$ 1. 2 billion.
He used that as seed money to acquire Treasure Island and to mate with Trump, one of his best friends, to create the adjacent non-gaming Trump International Hotel
“ Why do you think I bought Circus Circus? ” Ruffin said in the Forbes content. “For the 102 hectares. That’s the property enjoy. Remember what I did at the Frontier, how the value of the land went mad — around it ’s going crazier. ”
The northern Strip seems to be well positioned for growth, even as some of Circus Circus ’ companions challenge.
Another north Strip components
Snuggled between the Sahara and Fontainebleau Las Vegas is a 17-acre residence under growth by LVXP, a group of Las Vegas-based real estate professionals that hopes to develop a 752-foot, 2,605-unit resort and property job with an 18,000-seat area and a 6,000-seat theater. The Clark County Commission has clean lit growth of that job.
Just west of Fontainebleau on 10 acres where the Riviera again stood is territory being developed by Brett Torino and his BPS Partners LLC.
County commission voted overwhelmingly to endorse the plan for the mixed-use interest featuring two 600-foot turrets and a 439-foot joy journey at Las Vegas and Elvis Presley walkways.
The towers may involve a 750-room nongaming resort and a 425-unit apartment apartment. A 3,310-seat vaulted performance venue likewise is tabbed for the east five hectares, which Fontainebleau is buying for$ 112. 5 million.
The northern Strip is home to the town ’s newest agreement place, the Las Vegas Convention Center ’s West Hall. And, a couple blocks north is Subject, the 17,000-seat entertainment venue that has activated a fresh push to become one of the most effective arenas around with numerous shows everyday and a lineup of concert residencies that already includes the Eagles, Dead & Organization and the newest addition, land legend Kenny Chesney, whose displays begin in May.
While the potential appears vivid for the town, not all of the existing accommodations are flourishing.
Subject Entertainment, which operates the Sphere, lost$ 480 million next year. The business ’s future earnings call is weeks away.
Resorts World Las Vegas, which opened in 2021 and is mired in regulatory problems, recently reported its worst quarter in two years with profits down 23 percent.
The Fontainebleau, partly owned by Koch Real Estate Investments, is reportedly struggling to find its financial footing, the Forbes article stated.
Bright days for Circus
Ruffin sees brighter days ahead and says Circus Circus is performing well.
“We do well, ” Ruffin told Forbes. “We sell$ 2 beer,$ 2 hot dogs,$ 2 popcorn. People love it. A guy can eat and drink for six bucks. ”
While the property routinely attracts customers on a low budget, it has a steady customer base with its live circus acts – a staple for the property since it opened – its indoor amusement park, Adventuredome, and its next-door neighbor, Slots O Fun.
According to the Forbes article, when Ruffin sells Circus Circus, he plans to buy another property on the Strip with the proceeds, thus avoiding paying capital gains. His preference is to buy something in Las Vegas, where Brendan Bussmann, a gaming industry analyst with Las Vegas-based B Global, said “everything is always on the table ” at the right price.
But if Las Vegas does not work out for Ruffin’s next move, he is willing to look for opportunities in other states.
“ I have my eyes on some properties, ” Ruffin said. “It could be in another town, if it ’s good enough. ”
Ruffin already owns a greyhound racing track in his former hometown, Wichita, Kansas, converting it to a racino to be called The Golden Circle with a$ 200 million investment. He plans to add an outdoor concert venue and install a Gilley’s Saloon similar to what he has at Treasure Island by fall.
He also owns Casino Miami in Florida, managing it from his Las Vegas office.
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