Billionaire Phil Ruffin Plans to Sell Circus Circus for $5 Billion

LAS VEGAS, Nev. — Billionaire Phil Ruffin announced plans to sell Circus Circus and its 102-acre property on the Las Vegas Strip, a deal he estimates could fetch $5 billion. Ruffin, who purchased the iconic casino in late 2019 for the equivalent of $1 billion in today’s money, revealed the potential sale in an interview with Forbes published Friday.

“It’s the best piece of land on the West Coast,” Ruffin told Forbes. “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.”

Ruffin, known for his strategic real estate investments, emphasized the value of the land over the casino itself. “Why do you think I bought Circus Circus? For the 102 acres,” he said. “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.”

Ruffin’s track record in Las Vegas real estate is notable. He purchased the Frontier in 1998 for $167 million and sold it a decade later for about $2.1 billion, an eleven-fold increase after adjusting for inflation. He also owns Treasure Island, which he acquired in 2009 for $775 million.

The billionaire, a close friend of former President Donald Trump, hinted at future investments on the Strip or beyond Nevada. “There is interest,” Ruffin said of potential buyers for Circus Circus. He did not disclose specific parties but expressed confidence in the property’s appeal.

Ruffin also shared insights from his conversations with Trump, who is reportedly planning immigration enforcement sweeps and considering actions related to the Panama Canal. “We did agree that something needs to be done with the Panama Canal,” Ruffin told Forbes. “I can’t imagine us giving away that canal for $1, as President Carter did. It is critical.”

As the Las Vegas Strip continues to evolve, Ruffin’s potential sale of Circus Circus marks a significant moment in the city’s real estate landscape. The property’s prime location and vast acreage make it a rare opportunity for developers, with Ruffin predicting a transformative future for the site.