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Published on January 21, 2025
Las Vegas Landmark Circus Circus May Hit the Market, Owner Phil Ruffin Eyes $5 Billion ValuationSource: Google Street View

Las Vegas' iconic Circus Circus hotel and casino could potentially change hands in the near future, as billionaire owner Phil Ruffin has expressed interest in selling the property. In a recent interview with Forbes, Ruffin suggested that Circus Circus might be valued at a hefty $5 billion, a significant increase from the $825 million he paid when purchasing it from MGM Resorts International back in 2019. The north end of the Las Vegas Strip has seen a resurgence in development interest, particularly with the opening of Fontainebleau Las Vegas and the revival of a dormant arena project nearby, which may have spurred Ruffin's assessment of the property's worth, according to 8 News Now.

Ruffin, who also owns Treasure Island Hotel and Casino, sees the potential sale as an opportunity to acquire another property on the Strip, aiming to avoid capital gains taxes through reinvestment. Ruffin, who was attending President Donald Trump's inauguration in Washington, D.C., considers Circus Circus's location on the Strip, with its highway access and 102 acres of land, to be prime real estate, "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 acres is just a massive amount of land — you can almost build a city on it," he told 8 News Now.

Circus Circus, known for catering to families and featuring attractions like the Adventuredome and live circus acts, has been a fixture on the Strip since 1968. Despite its age, the hotel and casino continues to draw visitors with its value offerings. "We do well," Ruffin explained in his Forbes interview, "We sell $2 beer, $2 hot dogs, $2 popcorn. People love it. A guy can eat and drink for six bucks." The resort also launched a new attraction, "Spongebob's Crazy Carnival Ride," in March 2024, suggesting that it still seeks to maintain its appeal to the family demographic, as per 8 News Now.

For some visitors, the news of a potential sale carries emotional weight. Seth Porter, a father who has made it a tradition to visit Circus Circus with his family, expressed his hope to FOX5 Vegas that any changes to the property would preserve its family-friendly atmosphere. "I would like to see it be turned into something for the kids, if it would be turned into a theme park, or some sort of community center," said Porter, who has fond memories of visiting Circus Circus as a child, bringing his family every year. Meanwhile, local enthusiast Michael Burnam, upon hearing the sale rumors, visited the hotel to experience its atmosphere one more time. "I love Vegas history, and hearing that this is possibly going to close and maybe turn into something else, I wanted to take a walk around and see everything," Burnam told FOX5.

As discussions of the sale progress, no official statement has been released by Circus Circus. The looming prospect of the sale leaves both long-time patrons and potential buyers in suspense, looking toward the future of one of Las Vegas' storied venues on the Strip. Ruffin's suggested price tag underscores the premium placed on Las Vegas real estate, particularly in burgeoning areas of the Strip that have recently attracted renewed developer interest.