Budget-friendly Las Vegas Strip casino resort Circus Circus is for sale.
Billionaire owner Phil Ruffin, who also owns Treasure Island Las Vegas and is the co-owner of Trump International Hotel Las Vegas, this week spoke in an interview with Forbes in which he confirmed his long-speculated interest in selling the property.
However, the 89-year-old casino magnate mentioned a high asking price in the region of $5 billion on the property, which may have limited the pool of potential buyers. Ruffin claimed Circus Circus’ 102 acres on the Las Vegas Strip is some of the most prime real estate in the country.
Ruffin bought Circus Circus for $825 million from MGM Resorts International in 2019, which would certainly be a bit more now, given inflation. But definitely not anywhere near $5 billion.
On the other hand, Ruffin has a history of making big money profits on Las Vegas casino flips. In 1998, he bought the Frontier Las Vegas for $165 million, and then sold it a decade later for $1.2 billion.
Circus Circus
Although long viewed as the less upscale part of the Las Vegas Strip, the north end of the resort corridor is seeing increasing investment and interest.
The opening of the multibillion modern properties Resorts World Las Vegas and then Fontainebleau Las Vegas has brought more people to the area. Neither property has exactly set the world alight. In 2024, Resorts World had the worst year since its 2021 opening after being rocked by money laundering scandals.
However, the price of land on the north end of the Las Vegas Strip continues to rise. Whether that is enough to make Circus Circus and its land worth $5 billion is a tough sell.
The budget-friendly casino resort has a polarizing reputation. Although many people would tell you it’s one of the worst (and most dangerous) places to stay on the resort corridor, its budget appeal and family attractions continue to ensure it remains busy.
The property averages around $90 million a year in revenues, despite its low roller reputation.
“We do well. We sell $2 beer, $2 hot dogs, $2 popcorn. People love it. A guy can eat and drink for six bucks,” Ruffin said in the recent interview.
Ruffin’s Investments
As well as Las Vegas casinos Treasure Island and Circus Circus, Ruffin owns a casino in Miami, and is building a $200 million casino resort in his hometown of Wichita, Kansas.
He also co-owns the Trump International Las Vegas with President-elect Donald Trump. The two billionaires have been very close friends for decades. Trump was Ruffin’s best man at his 2008 wedding, and the two usually spend New Year’s Eve together at Trump’s Mar-a-Lago mansion in Florida.
Ruffin told Forbes he isn’t in a rush to sell Circus Circus, hence the high price. He thinks the land will be worth even more in a few years time.
“Why do you think I bought Circus Circus? For the 102 acres. That’s the land play. Remember what I did at the Frontier, how the value of the land went crazy — here, it’s going crazier,” he told Forbes.
David is an online casino expert who specializes in online slots and boasts over 10 years experience writing about iGaming. He has written for a wide range of notable publications, including eSports Insider and WordPlay Magazine.
David graduated Derby University with a BA Degree in English Literature and Creative Writing.
