Phil Ruffin, the owner of Circus Circus and Treasure Island, is exploring the sale of Circus Circus, the 56-year-old casino-hotel on the north Las Vegas Strip, according to a recent report. Ruffin, who acquired the property from MGM Resorts in 2019 for $825 million, values the 102-acre site at approximately $5 billion.
Ruffin has indicated plans to use proceeds from the sale to acquire another property on the Strip, citing the land’s strategic value as a key motivator for the purchase.
“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,” Ruffin said in the Forbes article.
Circus Circus occupies a premier location with significant development potential. Ruffin’s strategy mirrors his previous success with the Frontier property, which he purchased for $165 million and later sold for $1.2 billion.
“Why do you think I bought Circus Circus? For the 102 acres. That’s the land play,” Ruffin remarked.
The property caters to families and budget-conscious travelers, featuring the popular Adventuredome indoor amusement park, live circus acts, and low-cost food options such as $2 beer and hot dogs.
The sale would come amid a wave of development activity on the north Strip. Projects include a 2,605-unit hotel and condo complex with an 18,000-seat arena and the Las Vegas Convention Center’s expanded West Hall. However, neighboring properties like Resorts World Las Vegas and Fontainebleau are navigating financial hurdles.
Ruffin’s next acquisition could remain on the Strip or move to other states. Potential opportunities 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.
Since its opening in 1968, Circus Circus has been a staple for Las Vegas families. Initially founded by Jay Sarno and Stanley Mallin, it grew under Bill Bennett and William Pennington before MGM Resorts acquired it in 2005.
Industry analysts like Brendan Bussmann of B Global say Ruffin’s strategy highlights the market’s flexibility. “Everything is always on the table at the right price,” Bussmann said.
Original article: https://www.yogonet.com/international/news/2025/01/21/92559-phil-ruffin-considers-5-billion-sale-of-circus-circus-eyes-new-las-vegas-investment
