Phil Ruffin seeks sale of Circus Circus Las Vegas for $5 billion

Phil Ruffin, the owner of Circus Circus in Las Vegas, has announced plans to sell the iconic resort, which he purchased for $825 million in 2019. The 102-acre property is now valued at around $5 billion, touted by Ruffin as 'the best piece of land on the West Coast' due to its prime location on the Strip and proximity to major highways. Circus Circus, which opened in 1968 and has long been a family-friendly destination, has drawn mixed feelings from visitors who hope for modernization while retaining its heritage. Ruffin aims to utilize the proceeds from the sale to acquire another property on the Strip, thereby avoiding capital gains taxes. Interest in the north Strip area has increased, especially following the opening of the Fontainebleau Las Vegas, and the potential sale could spark further development in the region. The future of Circus Circus remains uncertain as Ruffin weighs his options amid ongoing interest from potential buyers.