Circus Circus Sale Plans Move Forward in Las Vegas
A casino on the Las Vegas Strip now has a new owner. Circus Circus will soon have a new look and more on offer now that Phil Ruffin is set to take over the gaming property. The billionaire businessman has been approved by the Nevada Gaming Commission to purchase the casino along with its hotel. The venue is being sold by MGM International and has been a staple on the Las Vegas Strip for more than fifty years.
The deal between Ruffin and MGM closed on Friday after approval was given by the Commission the day before. Ruffin agreed to pay $825 million for the acquisition and reportedly is ready to spend even more on the renovation of the venue. Ruffin has experience in Las Vegas as the owner of the Treasure Island casino.
MGM first announced the casino was up for sale back in the fall and stated the property was being let go in order to see the company become asset-light. They will now be focusing more on their core business as an operator of integrated resorts. The sale of several properties by MGM is also being done to maximize value for shareholders.
Sportsbook and Property Expansion
For Circus Circus, the casino will be renovated and expanded by Ruffin. When speaking to state gaming regulators, Ruffin said that vacant land nearby will be used to build a swimming pool amenity along with sandy beaches. Other new amenities will be added as well.
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Another change to the property involves the sportsbook. On Friday, it was announced that Circus Circus will be working with William Hill US for their sports betting operations. William Hill is already in control of the sportsbook and announced yesterday with their launch that they plan on renovating the existing sportsbook.
The renovations will begin after the Super Bowl and the space will be ready for a grand opening celebration to take place in time for March Madness. The new facility will offer updated video screens along with new seating, odds boards and more.
Bettors will be able to access sports betting at the venue from kiosks as well as an InPlay wagering menu. The operator will also offer a betting app for mobile wagers. The new partnership for the Circus Circus casino comes as part of an extension of an existing relationship with Ruffin for other properties. The two are working together in Florida via the Casino Miami.
The William Hill sportsbook should help the Circus Circus casino do well as they are a popular brand. Players will be more likely to take part in sports betting services onsite due to the brand recognition.
The renovation of the Circus Circus property will serve the venue well as it has been in operation for five decades on the Strip. With a new sportsbook partner, added amenities and more, visitors will have much to explore once the changes are complete. It has yet to be determined if the casino will continue to be known a Circus Circus, but as of right now, it seems Ruffin has no plans to change the name of the vintage property.