Discussion in 'Casino Industry & Development' started by JRRestoule, Sep 13, 2019.
As rumoured by Vital Vegas... more announced soon. Could be interesting!
Still waiting on the VV announced Cosmo sale too. He may be right about this, but so is a broken watch twice a day.
Scott Roeben at Vital Vegas has excellent connections. He has a great track record of breaking stories like this.
I hope VV is right and the Circus tent is sold....it's in need of a renovation.
If Scott is right, there will be no renovation, simply an implosion. Over 100 acres in the sale and they wouldn't let the original stay standing.
Maybe. With a strong economy they could flip that. Dont forget the land for the motel part that is like a hotel by itself. Walgreens bought their building for 30mil and relisted the following month for 40mil lol.
VV says it's not a stranger to the strip. That really limits it down to about 10 companies.
I'll throw in some speculative guesses:
1. Phil Ruffin (TI)
3. Derek Stevens (to rename it Circa Circa)
The fact that everyone, including Scott at VV, knows and isn't saying anything says that it's probably a big player in town - so I'd lean more toward Boyd.
Agree with @mikel123 when I saw the post last night those were the exact 3 that immediately came to mind.
I have a fondness for CC basically from FALILV bazooka circus scenes, so I hope it's not imploded. A reno would be nice but I think this is just a cash grab by someone who is not going to put anything into it hoping to resell if the surrounding area ever gets to the potential it has with other properties.
I always wanted to ask the cocktail waitresses "do they pay you to screw that bear?" to see if they got the reference or not.
If you want to see the most preserved strip hotel of classic 1970's Vegas, go take a walk around CircusCircus. Very little has changed since it opened.
It's fun to take my 5 year old there to play carnival games, see the circus acts, and wander around Adventuredome. I'd never stay there. And yes, it could use a makeover. But maybe in some way that would preserve its classic Vegas style and feel.
I'm guessing whoever bought it is someone thinking ahead. Resorts World will be completed and opened shortly, The Drew is supposed to be finished and open in a few years(yeah, right), and The Sahara is changing it up. There's no reason and no hurry to do anything drastic with CircusCircus at this time. The place still turns a profit of over $50 million a year. This end of the strip is still currently not happening. Time will tell.
Looks like a decent free bet.
1) Don't mess with it for now - it turns a solid profit and has for decades pretty much irrelevant of what's around it.
2) If and only if the rest of the area develops fully; RW, convention centre, etc and demand is strong, now you can implode it and build something new and make even more money.
Really hoping they're sensible enough NOT to mess with the steakhouse - it pulls people like me into the resort who would never set foot in it otherwise.
If they also bought the Rock in Rio grounds next door then they likely plan on raising the property at some point. Probably not right away, but if/when the north strip finally hits again they'll be ready
love the Circa Circa idea, but if it's Boyd, they'll be lagging Circa.
Isn't the Cosmo sale supposed to be announced according to him?
I'll go with flip slow roll, if at all.
thinking about it for a second, I would love for it to be Derek showing a case of elephantisis brassius.
There are a lot of steps between “we’re on the market” to “deal finalized” and I think he sometimes hears that the sale process has hit a significant checkpoint and jumps straight to “x property is sold”.
For example, the Cosmo sale was looking like it was going to get done, but Blackstone is now squeezing the deal. The property’s results have continued to improve since they put it on the market and entered negotiations with the likely buyer, so they’re in no rush to sell below their price as they know what a special asset it is.
Damnnnnn. That article pretty much sums up what I said in last months debate on Circus Circus and MGM!!!!
But what do I know???
The stock been in the toilet since City Center started. They're trying to boost the stock price. With all the layoffs and cost cutting. I tend to believe it
Boyd Gaming has been wanting to get a strip location for some time. Remember the Echelon?
Circus Circus is just north of the Resorts World project, so there is the potential for substantial foot traffic.
102 acres. Wow. Plenty of room for almost anything.
Didn't boyd own Barbary Coast at some point? They didn't keep it for long though.
CC needs implosion badly!
Biggest news would be if the buyer was Steve Wynn. Now that would be exciting and interesting. I don't believe he's really out of the casino game but I know it won't be with this property.
I agree that CC is one of the last bastions of old time Vegas. Really hate to see it go but I guess it was inevitable.
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