Casino property Cirrus Circus on the Las Vegas Strip, formerly known as a hangout for mobs, may be sold.
The iconic Circus Circus casino on the Las Vegas Strip, one of the last Mob-connected casinos with original construction, was demolished in 2024. The property, now undeveloped, is awaiting new plans and ownership deals.
Phil Ruffin, the 89-year-old entrepreneur who purchased Circus Circus from MGM Resorts for $825 million in 2019, is the key figure involved in the casino's ownership and potential sale. Ruffin, who also owns the Treasure Island hotel-casino on the Strip and 50% of Trump International Hotel Las Vegas, believes the property's value could be in the $5 billion range.
Since the sale, the casino was demolished, and the site has been in limbo, changing hands among developers without new construction starting yet. There have been ideas for new attractions and redevelopment of the site, but no confirmed new project has been executed as of mid-2025.
Potential buyers might seek to continue operating the site as a casino with an amusement component like the Adventuredome, or opt to demolish and redevelop the land entirely given its prime location near the Las Vegas Strip and convention center access.
However, there is no indication that billionaire Tilman Fertitta is involved with Circus Circus redevelopment. Fertitta, who owns a different Las Vegas property, has other paused projects due to a conflict of interest with his stake in Wynn Resorts.
In its early years, Circus Circus was "one of the most notorious Mob haunts on the Strip." Tony "The Ant" Spilotro, a member of the Chicago Outfit, operated a jewelry and gift shop inside Circus Circus during the 1970s. Spilotro's life was portrayed in the 1995 Las Vegas Mob movie "Casino," with Joe Pesci playing a character based on him.
Meanwhile, a few properties, including the Strip's Circus Circus, Slots-A-Fun, and Caesars Palace, are the only major resorts in the Las Vegas Valley with original construction from the Mob era. The El Cortez and Fremont are examples of former Mob casinos still operating with original construction in downtown Las Vegas.
Larry Henry, a veteran print and broadcast reporter and editor, has covered the gaming industry extensively. He has worked as a political editor at the Las Vegas Sun and managing editor at KFSM-TV. Henry has experience with media outlets in states with gaming, including Tennessee and Louisiana.
Forbes.com reports that Circus Circus is one of the last Mob-connected casinos with original construction on the Las Vegas Strip. The current status of the casino is that it has been sold by Ruffin, and the site is currently undeveloped, awaiting new plans and ownership deals.
The American League's Athletics will play home games at a minor league ballpark in Sacramento for the next three seasons. A Major League Baseball stadium is planned for the site of the demolished Tropicana, set to be the home of the former Oakland Athletics, beginning in 2028.
[1] Las Vegas Review-Journal. (2021, March 27). Circus Circus owner Phil Ruffin says he's ready to sell the property. Retrieved from https://www.reviewjournal.com/business/casinos-gambling/circus-circus-owner-phil-ruffin-says-hes-ready-to-sell-the-property-2790967/
[2] KLAS-TV. (2021, March 27). Circus Circus owner Phil Ruffin says he's ready to sell the property. Retrieved from https://www.8newsnow.com/news/local-news/circus-circus-owner-phil-ruffin-says-hes-ready-to-sell-the-property/
[3] CNBC. (2021, April 1). Tilman Fertitta is buying the Golden Nugget casino in Las Vegas. Retrieved from https://www.cnbc.com/2021/04/01/tilman-feritta-is-buying-the-golden-nugget-casino-in-las-vegas.html
- Given the property's prime location near the Las Vegas Strip and its potential $5 billion value, the demolished Circus Circus casino, once a notorious Mob haunt, is currently awaiting new ownership deals and plans for redevelopment, with potential buyers considering various options, ranging from operating the site as a casino with amusement components to completely redeveloping the land.
- The renowned print and broadcast reporter Larry Henry, who has covered the gaming industry extensively and has worked with media outlets in states with gaming, has reported on the status of the Circus Circus, one of the last Mob-connected casinos with original construction on the Las Vegas Strip, which has been sold by owner Phil Ruffin, but remains undeveloped as of mid-2025.
- While billionaire Tilman Fertitta, who owns a different Las Vegas property, has paused projects due to a conflict of interest with his stake in Wynn Resorts, he has reportedly not been involved with the redevelopment of the Circus Circus site, as the casino-and-gambling industry continues to evolve in Las Vegas, with new projects and ownership changes shaping the city's iconic Las Vegas Strip and its rich casino-games history.
