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Rumor: Circus Circus sold?

Discussion in 'Casino Industry & Development' started by JRRestoule, Sep 13, 2019.

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  1. pressitagain

    pressitagain VIP Whale

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    I don’t believe anyone mentioned so far EXCEPT for Wynn would be the most logical buyer.....there are millions of reasons as to how and why it should be them....

    I will say that there is one more potential buyer for whom this property would make sense....
     
  2. dmr

    dmr Registered Abuser

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    They have cried "wolf" soooo many times now!
     
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  3. JRRestoule

    JRRestoule VIP Whale

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    If it’s a money maker why would they implode it? Especially if whoever is buying it also gets all the empty land beside it.
     
    So. Far. Away. :( Can’t wait!
    Even. Farther. Away. :( Still can't wait!
  4. UKFanatic

    UKFanatic The Arbiter of Taste Caviar Kid

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    Not really. His track record is pretty spotty. Unless you mean he has a great record of reporting rumors. He is right as often as he is wrong because he appers to report everyything he hears with zero confirmation or sourcing. As Shock mentioned, he has reported multiple times about an imminent sale of the Cosmo and it never happened.
     
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  5. WelshBlonde

    WelshBlonde Wishing I was in Vegas

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    Didn't he say the Mirage was sold mulitiple times over the last few years too?
     
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  6. HHFan

    HHFan Low-Roller

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    Because it doesn’t make enough money for the amount of strip real estate it takes up. It’s footprint is huge, and it makes little in comparison to other resorts. It’s runs a great margin, but if the north strip picks up as everyone hopes/expects then leaving a rundown property on that land will be an opportunity wasted.
     
  7. pressitagain

    pressitagain VIP Whale

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    You guys are taking the fun out of this thread....nothing wrong with some good old fashioned speculation from the rumour mill!!!!
     
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  8. JRRestoule

    JRRestoule VIP Whale

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    Makes sense.
    Kinda like they did with the Stardust and New Frontier?
     
    So. Far. Away. :( Can’t wait!
    Even. Farther. Away. :( Still can't wait!
  9. Rhinoman79

    Rhinoman79 Tourist

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    To be fair I think it makes a lot more money than almost any other property picked up and dropped into that location would have over the last 20 years with the possible exception of Wynn. Being surrounded by wasteland and remote from the action would have killed off most ofther properties, especially around 2008-2012 (how much profit has Sahara /SLS made in the same period - with 100x more money spent on it?!), but CC just grinds on.

    Sure a different property may make a larger OPERATING profit, but if you're $5BN in the hole to build it, then it may well be still be less of a moneymaker than just retaining CC; and if a recession hits during the build ... well how did that work out for the adjacent megaresorts they tried to construct...?
     
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  10. TxTeach79

    TxTeach79 #VLV

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    Again, your mileage may vary on how reliable you think VV is, but that said... if you look through his Twitter feed, he's given outright "Nos" to people who guessed Boyd, Stations, Wynn, Meruelo, CET/ElDo, Seminoles/HR..... ignored one Penn guess, and has ignored a LOT of people saying it's Ruffin.... so, in the spirit of wild baseless speculation, it's just odd he hasn't shouted down the idea that it's Ruffin....
     
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  11. NewOrleansSlimm

    NewOrleansSlimm VIP Whale

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    you have to follow the clues...he gave out two main clues

    1. the buyer is a bargain shopper

    2. the buyer is no stranger to the strip

    you go from those clues. right away we rule out MGM as they already own it and CET/Eldorado because they are merging

    so whos left?

    Wynn, Sands, Penn, Ruffin, Blackstone, Golden, SLS, Greg and Derek stevens, Boyd and Margaret Elardi

    whos stated recently that they want another strip property if CET sells any for the right price and who got a great bargan on their current casino

    my guess along with several others is Phil Ruffin
     
  12. vegasvp

    vegasvp Low-Roller

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    I think VV is right on this one.
     
    Last edited: Sep 14, 2019
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  13. pressitagain

    pressitagain VIP Whale

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    I don’t see Ruffin doubling down on the north end. Does he have the money? For sure. I’m pretty sure he would like to move more towards the centre than the unknown.....renovating or imploding CC doesn’t fit with his style. Maybe a hotel with upgrades needed near all the action...that’s why I think he’s out.
     
  14. 44inarow

    44inarow VIP Whale

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    Agreed. Maybe it doesn't make as much money as a modern megaresort would, but you'd have to spend the money to build that megaresort and also take the opportunity cost of being out of commission for several years. It's not like the old Fontainebleu or the Echelon space have made much money over the years, not to mention the space across from Luxor where the ferris wheel was supposed to be.
     
  15. pressitagain

    pressitagain VIP Whale

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    Ok. Let me explain why the theory of it making money doesn’t work in real life. I don’t know what stage you are in your life.

    Let’s say your retired. You planned everything right. Your pension fund is invested in MGM. Let’s say for hypothetically that CC makes 30 million a year. You get a portion of that for your monthly withdrawal. CC made 30 million in year 1. Great. You met your yearly target. Year 2. Expenses rose to maintain the property by 2 million per year. Now there is 28 million left. But with inflation they needed to make 30.6 million to meet your yearly obligations. As time goes on more yearly expenditures. The place is rundown. What happens if there is some extraordinary charge to there expenses. In the end. You lose on your pension fund. Now what????

    That’s why....in broad terms a corporation needs expansion. To meet the needs of its investors. No growth means higher borrowing costs which in turn leads to less profit.
     
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  16. Scotchguy

    Scotchguy Tourist

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    Taking this one step further, if CC is bought and imploded.....which property will take in the displaced, crying, runny nose demons that we lovingly call children?
     
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  17. dmr

    dmr Registered Abuser

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    That's easy! Excalibur. (Egg Salad Bar) :)
     
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  18. Joe Strummer

    Joe Strummer VIP Whale

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    .....and what Vegas Player is marketing children ?
     
  19. shokhead

    shokhead No big spender unless eating drinking having fun!

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    Do we need one?
     
    The Palace Baby! Caesars That IS!!
    The Nugget!
  20. Joe Strummer

    Joe Strummer VIP Whale

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    Of course we do !
    Where would Clark Griswold and family stay ?
     
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