The changing face of Las Vegas could change again, as one of the most iconic hotels in city might be for sale.
The Circus Circus hotel has nearly 4,000 rooms and is the 10th largest in Las Vegas and the 18th largest in the world. It is owned by gaming entrepreneur Phil Ruffin.
“This iconic property has been part of the mythos of Las Vegas, from its appearance in ‘Diamonds are Forever’ to the thousands of local children who have grown up going there on field trips,” said Amanda Bellarmino, an assistant professor at UNLV’s William F. Harrah College of Hospitality.
“I sincerely hope that if it is sold, it will be maintained,” she said. “The price tag seems a bit high for the property, but the land adjacent to it is a prime spot that can be developed.”
“At $50 million an acre, you’d be hard-pressed to build anything besides a luxury offering,” realtor Josh Swissman said. “So whatever the design is, it’s got to be upper end in terms of the price scale."
"And that sometimes makes it hard to have a family-oriented facility," Swissman continued. "There are a lot of people who think that the days for entities like that have come and gone.”
The resort was built in 1968. Although geared toward children, it has received its share of negative reviews for being too scary. Ruffin, who paid $825 million for Circus Circus five years ago, promoted the establishment toward families.
“As we continue to see our city evolve, there is more potential for that plot of land than ever before,” Belarmino said. “Could it be used for (Formula One) or for an NBA arena? Dare I say, this could be a location for a movie studio. Whatever may happen, there is a lot of potential for a transformation at that end of the Strip.”
The hotel did have a bedbug problem less than six months ago.
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