MGM Resorts sells Circus Circus, Bellagio on Las Vegas Strip

AP ^ | Oct. 15, 2019 | Michelle L. Price

[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.

[ConservativeStatement]

I guess it was time to say goodbye.

[Trump.Deplorable]

Meanwhile in Atlantic City, a 2 billion dollar half complete casino sold for 80 million dollars

[Skywise]

The Bellagio wasn’t “sold” per se - MGM sold the land to the holding corp but lease it back to continue running the Bellagio.

[youngidiot]

I would have given them twice that!

[pfflier]

IMO Circus-Circus is well past it's prime. When we got married in Vegas 47 years ago, it was new and exciting. The arcade level had a carnival atmosphere, not the overpriced, Universal Studios act feel it has now. The live acts were entertaining and the hotel was clean.

Now the first impression we have is that it is dingy and worn out looking catering exclusively to tourists from the far east.

[TADSLOS]

Imploding Circus-Circus is long overdue.

[Mount Athos]

could someone link me a live thread for debate

[a fool in paradise]

Class action lawsuits cost money

[Bonemaker]

“...Now the first impression we have is that it is dingy and worn out looking...”

Take a black light to the room. Every bacillus known to man is in there. Probably get clap just taking a shower.

[a fool in paradise]

There’s a secretary of the Communist Party in China who could’ve easily paid that on cash. Many times over

[ak267]

Vegas was once a place for gambling and comps. Shows were first rate and the food was to die for.

Now there’s a casino at every nook and cranny while Macau is the new magnet for the high rollers.

Vegas? Resort fees, paid parking, 6-5 blackjack, lower slot payouts, crappy buffets, BAD customer service and crap for comps. It’s as though they don’t want you anymore.

[SunkenCiv]

I’ve never been there, nor have I ever wanted to go, although I’ve got old friends who moved there. I’m often amused by the changes in city skyline and the Strip in movies and TV shows of different dates.

Oakland Raiders construction site:youtube.com
http://www.google.com/search?q=Oakland+Raiders+construction+site:youtube.com

las vegas resort hotel casino that stands empty site:youtube.com
http://www.google.com/search?q=las+vegas+resort+hotel+casino+that+stands+empty+site:youtube.com&btnG=Search

Fontainebleau Las Vegas site:youtube.com
http://www.google.com/search?q=Fontainebleau+Las+Vegas+site:youtube.com

Comedians in Cars Getting Coffee S04 E02 George Wallace
https://www.dailymotion.com/video/x6eymv0

Comedians ‹n Cars Getting Coffee S04E02 George Wallace
https://www.dailymotion.com/video/x6i3apt

Definitive Riviera Casino Las Vegas Demolition Timeline
https://www.youtube.com/watch?v=dVZzLx7fBF0

[TADSLOS]

Agree on all counts. Vegas peaked as a real gambling destination about 20 years ago. Go there now and your money vanishes before you even set foot in the casino. Corporations have ruined it.

[Mr. Jeeves]

Last I heard MGM owned Circus Circus free and clear (unlike the huge mortgages they have on many of their newer properties) - and it was good for $100 million a year in free cash flow. It may be ugly, but it is a money-maker. :)

[Mr. Jeeves]

Yes, I used to live in Las Vegas and still spend a fair amount of time there at trade shows. Nothing cheap is good and nothing good is cheap :)

[Bullish]

Circus-Circus has about had it. I was there the day it was opened. My Dad worked there.

Good times then, but the CC hasn’t been a decent place for a long long time. I suspect rebuilding in the site’s future.

[nd76]

I visited Macau in September, 2018, while on a week long trip to Hong Kong. We took a high speed catamaran ferry over there (37 mile trip in about 65 minutes). We visited the MGM and Wynn properties near the downtown. The minimum bet to sit at one of the tables was 1,500 Hong Kong dollars (about $200). I think we left behind 100 HKD in one of the slot machines.

That will probably be the only time I’ll ever get there.

[SamAdams76]

I'll never forget what Hunter Thompson had to say about Circus Circus.

He described it as what the world would have looked like on Saturday Night had the Nazis won World War II.

[hellinahandcart]

It’s the thread titled “Clown Show,” they seem to be having a rollicking good time.

https://www.freerepublic.com/focus/news/3786434/posts?page=298#298

[SamAdams76]

I went to Las Vegas a lot during the 1980s and 1990s. Even from the East Coast, the airfare was practically free. I remember paying $49 for one way tickets out of Logan. The hotels were very cheap too. Inexpensive first class buffets, free parking and drinks were pretty much free in the casinos. All they wanted you to do was gamble. And even at that, you had a decent chance to come out ahead if you knew what you were doing. I learned basic strategy for Blackjack and I could sit at a table for hours and hours with just a $100 stake.

I mostly liked playing the quarter slots. With real quarters. They'd give you pails to keep your quarters in and nothing better than winning even a small jackpot and scooping all those quarters out of the tray. I think they still have some of those machines on Fremont Street. Everyplace else pays out with those paper vouchers and to me, that's not nearly as much fun. I miss the sound of those coins spilling into the trays.