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MGM Resorts sells Circus Circus, Bellagio on Las Vegas Strip
AP ^ | Oct. 15, 2019 | Michelle L. Price

Posted on 10/15/2019 6:27:59 PM PDT by ConservativeStatement

LAS VEGAS (AP) — MGM Resorts International announced the sale Tuesday of two casinos that will significantly alter its portfolio of Las Vegas Strip properties and offer up cash.

The Las Vegas-based company said it is selling the Circus Circus hotel-casino for $825 million to Treasure Island casino owner Phil Ruffin. The company also sold the Bellagio for $4.25 billion.

(Excerpt) Read more at sfgate.com ...


TOPICS: Business/Economy; Local News
KEYWORDS: bellagio; circuscircus; government; lasvegas; mgm; mgmresorts; nevada; philruffin; stategovernment; taxhike; taxhikes; treasureisland
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Bump


21 posted on 10/15/2019 7:22:23 PM PDT by foreverfree
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To: pfflier

The Circus Dome was outstanding. It was also the basis of several sci-fi flicks


22 posted on 10/15/2019 7:38:46 PM PDT by tcrlaf (They told me it could never happen in America. And then it did....ew)
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To: ak267

That 6-5 blackjack really chaps my hide.


23 posted on 10/15/2019 7:40:18 PM PDT by Enterprise
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To: nd76

Wow! A minimum bet of 200 dollars. I cringe when I go large and put down a 25 dollar bet.


24 posted on 10/15/2019 7:42:49 PM PDT by Enterprise
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To: ConservativeStatement

Phil Ruffin is a close friend of POTUS Trump.


25 posted on 10/15/2019 8:12:13 PM PDT by Kickass Conservative (Kill a Commie for your Mommy.)
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To: pfflier

We stayed at Wynn Encore. Steve Wynn was on a video loop on the TV describing all the restaurants on the property with painfully staged shots of the restaurants in operation - people pretending to eat, to order, to converse all in a hammy pantomime. But the eye candy was top drawer.

Ironically, it was just weeks before the public accusations by former female staff against Wynn were made.

Anyway, I walked over to Circus Circus since I was rarely at the north end of the Strip and wanted to see the old place out of curiosity born mostly of seeing it in Diamonds Are Forever. Of course, that film was released in 1971 but still....

Like most ‘grind joints’ it operated on a shoestring. Worn carpet, worn walls, a skeleton crew. The trapeze was still place, however.

One of my friends visited a Fremont St grind joint out of similar curiosity. While seated at one of the tables he remarked that he wasn’t fond of a particular song on the speakers. The dealer shocked him by pulling an iPod out of a pocket and changing the song. Why pay big bucks for a music subscription?

I can only conclude that the Circus property (as in acreage) is the real item of value. With the other properties being redeveloped at the North end it would stand to reason.


26 posted on 10/15/2019 8:17:43 PM PDT by relictele
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To: ConservativeStatement

Yikes! What about all my wife’s and my MGM rewards points earned at the Bellagio? Since we don’t frequent any of the other MGM properties, I hope that they will transfer to the Treasure Island system...


27 posted on 10/15/2019 8:23:03 PM PDT by SuperLuminal (Where is Sam Adams now that we desperately need him)
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To: SuperLuminal

Whoops! Should have read the details of the transaction... No rewards issues...


28 posted on 10/15/2019 8:24:54 PM PDT by SuperLuminal (Where is Sam Adams now that we desperately need him)
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To: ak267
Now there’s a casino at every nook and cranny while Macau is the new magnet for the high rollers.

I've owned a small amount of MGM stock for some years and it is actually doing pretty well...now. A bigger buy was Melco (Macau), which I understand makes Vegas look like podunk. But that stock, ironically, has not done so well. Part of it may due to the Chinese government cracking down from time to tome on the high rollers/tax cheats/oligarchs...whatever. The stock also vacillates with the USA/China tariff talks.

29 posted on 10/15/2019 8:42:08 PM PDT by DeFault User
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To: ak267; TADSLOS

Have to concur with the 20 year observation. Although the theming was a bit Disneyfied at most places the staff usually played along. The Treasure Island naval battle has been reduced, inevitably, to a pointless T&A display with FX almost nonexistent.

It’s less Vegas and more Orlando/Myrtle Beach with smartass kids working most places and a flood of foreigners with little or no English. It seems that Saigon airlift in 1975 dropped them all in Nevada.

Food is bad and getting worse - as you say, the buffets are as bad as any at the beach. Cheap cheap cheap. Went to NYNY ‘Village’ where we’d had some good food at places in the past - it’s terrible now.

Can’t step inside a building without someone pestering you to get a players card. Discounts comps blah blah blah. Meanwhile they’re selling your personal details far and wide.

The once simple act of walking is even degraded now. Casinos have given up on grand entrances and are now sticking restaurants and bars on and over the sidewalks. Speaking of sidewalks, they’re almost impassable thanks to: (deep breath) people in superhero costumes (usually Batman), trashy ‘showgirls’ with pale skin, cellulite, fishnets and lots of tattoos (in other words, hookers who are daylighting), Mexicans STILL handing out hooker flyers and casino promo barkers.

But the worst addition is the vast increase in bums, mostly addicts, sprawled out everywhere and begging for money if they aren’t passed out. They are supposedly legal but they are ruining multi billion dollar operations.


30 posted on 10/15/2019 8:47:48 PM PDT by relictele
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To: pfflier

I love going to Vegas and it’s not even on the top 20.

You’re right.


31 posted on 10/15/2019 8:53:16 PM PDT by dp0622 (Bad, bad company Till the day I die.)
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To: pfflier

IMO Circus-Circus is well past it’s prime....

Stayed there in 2000. Things were pretty threadbare then. It’s the Motel 6 of LV Casino Hotels.


32 posted on 10/15/2019 9:17:09 PM PDT by Ceebass (The only thing Orwell got wrong was the date)
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To: relictele

Yeah, saw lots of street bums on the strip during our last trip a few weeks ago for a family gathering. Downtown has become more of a freak show than it ever was as well.

Pretty sure we won’t be back anytime soon. It’s definitely not the Vegas of the 80s and 90s anymore. Back then, you could have a pretty good time on the cheap and maybe walk away with some extra money in the process.


33 posted on 10/15/2019 9:52:08 PM PDT by TADSLOS (You know why you can enjoy a day at the Zoo? Because walls work.)
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To: TADSLOS

We used to go to Vegas at least once a year. Always liked the old Aladdin and Ballys. You are really right it is not the same and much more costly.


34 posted on 10/15/2019 10:20:08 PM PDT by lone star annie
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To: DeFault User

Since you are a shareholder just FYI—the new casino in Springfield, MA is a _total_ embarrassment for MGM.

The urban site is very small, the casino is squashed together so tight it looks like the inside of the coach section of an airplane. The only nice areas are outside—which is useless for six months of the year (here in New England we have that thing called _winter_).

Security is horrible (muggings in the parking lot have made news—and the locals are _not_ friendly).

It is the worst casino I have ever seen.

(end of rant)


35 posted on 10/15/2019 10:22:26 PM PDT by cgbg (Vote Trump or you will _be_ Trump)
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To: lone star annie

We like Laughlin—more low key (less traffic, less crowds, friendlier people).


36 posted on 10/15/2019 10:23:21 PM PDT by cgbg (Vote Trump or you will _be_ Trump)
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To: cgbg

Fortunately, I only have 50 shares of MGM so I’m not exactly a big fan. I think it was something a broker (whom I’ve since left) recommended.


37 posted on 10/15/2019 10:58:43 PM PDT by DeFault User
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To: ConservativeStatement

VEGAS WAS BETTER WHEN THE MAFIA OWNED IT. Corporation Vegas blows.


38 posted on 10/15/2019 11:24:37 PM PDT by DeathBeforeDishonor1
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To: pfflier

Circus Circus is a great place to dump your grandmother.


39 posted on 10/16/2019 4:10:39 AM PDT by Joe Boucher ( Molon Labe' baby, Molon Labe)
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To: ConservativeStatement
We stayed for two days during my family's 1991 USA tour. My wife and kids went into sensory overload before we even checked in. (I had been there before.) There was a trapeze act going on and we were watching beneath the safety net. I had the feeling that my wife was worried that she would be crushed to death if someone fell into the net. The kids loved the arcade, and so did my wife. Rooms were cheap and quite adequate. Parking was free. The buffet was memorable enough that all wanted to go back when we returned in 1994, but then it was agreed that other buffets were better. (We stayed at the Luxor then.) The only downside was that my kids couldn't watch me play Blackjack as they had in Deadwood, SD.

ML/NJ

40 posted on 10/16/2019 5:40:13 AM PDT by ml/nj (eeter hope ther are no statue)
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