Phil Ruffin Considers Sale of Iconic Circus Circus for $5 Billion
Phil Ruffin, the experienced casino operator and close friend of President-elect Donald Trump, is considering selling the iconic Circus Circus Hotel and Casino in Las Vegas.
Phil Ruffin drinking champagne with known associate Donald Trump. Phil Ruffin is considering selling Circus Circus for $5 billion.
LISTEN TO THIS ARTICLE:Ruffin purchased the property in 2019 for $825 million and now estimates its value at an impressive $5 billion, primarily due to its 102-acre location on the northern end of the Las Vegas Strip.
Circus Circus, which debuted in 1968 as a pioneer in family-friendly entertainment, has struggled to stay relevant in recent years. Its affordable accommodations, live circus acts, and indoor amusement park continue to attract middle-class families. However, critics point to the property’s dated infrastructure and less glamorous surroundings as drawbacks.
According to Forbes, Ruffin is less concerned about the casino's current performance and more focused on the potential of the land it occupies, which he considers among the most valuable real estate in the city.
Northern Las Vegas Strip Sees Renewed Interest
The north end of the Las Vegas Strip has experienced a mix of highs and lows over the years. High-profile developments such as the Sphere and the newly unveiled Fontainebleau have generated interest but have also faced financial challenges. Despite this, experts predict a gradual revitalization of this section of the Strip, which could increase the value of properties such as Circus Circus.
Ruffin is no stranger to leveraging prime real estate for profit. His successful 2007 sale of the Frontier Hotel for $1.2 billion, vastly more than his purchase price, serves as a precedent. He seems to be employing a similar strategy with Circus Circus by exploring redevelopment ideas that could maximize the land’s value.
More Vegas News
Expanding Beyond Nevada
Beyond Las Vegas, Phil Ruffin is investing in a $200 million casino project in Wichita, Kansas, his hometown. The Golden Circle Casino will feature gaming machines, an outdoor concert venue, and a Western-themed bar. Scheduled to open this year, the venture is part of Ruffin’s plan to diversify his business portfolio and expand beyond Nevada.
Ruffin’s influence extends beyond gaming. He is a longstanding friend of Donald Trump and the pair have co-owned properties such as the Trump International Hotel in Las Vegas. Ruffin has given his support to Trump’s policies, particularly those aimed at boosting American manufacturing and addressing trade and immigration issues.
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