Circus Circus Hotel and Casino in Las Vegas to be sold soon: report

LAS VEGAS - Circus Circus Hotel and Casino located on the northern Las Vegas Strip could get a makeover under new ownership. 

Real estate mogul Phil Ruffin said in a recent interview with Forbes that he’s ready to sell the property.

Ruffin bought Circus Circus from MGM in 2019

What we know:

MGM Resort sold Circus Circus to Ruffin in Dec. 2019 for $825 million. 

"Circus Circus has anchored the north end of the Las Vegas Strip for over 50 years, and I am excited to add it to my casino portfolio," he previously stated. 

(Getty Images)

Now, the billionaire is ready to move on. 

Once Circus Circus is sold, the 89-year-old said he hopes to buy another property on the Strip, adding he’s also open to opportunities outside Nevada. 

Ruffin also owns Treasure Island Las Vegas and 50% of Trump International Las Vegas. 

What we don't know:

It’s unknown when Ruffin plans to sell the property, and which companies have expressed interest in taking over.

There were some reports that Disney could buy the property, but those reports were debunked. 

Ruffin said there's been high interest in the property, mainly for its prime location near I-15.

"It’s the best piece of land on the West Coast," he 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 said the property is worth $5 billion. 

SUGGESTED COVERAGE:

• Tropicana Las Vegas closes its doors after 67 years
• The Mirage Las Vegas says goodbye after 34 years

This story was reported from Los Angeles.