Report: MGM Selling Circus Circus To TI Owner
MGM Resorts International is in talks to sell Circus Circus to TI owner Phil Ruffin, the Las Vegas Review-Journal reports.
Ruffin and MGM reached a handshake agreement on Sept. 12 for him to buy the hotel-casino, along with the Las Vegas Festival Grounds parcel, according to a person familiar with the negotiations.
Talks with other interested buyers ceased on Sept. 13.
Neither party has signed paperwork finalizing the sale, according to the source.
MGM Resorts was said to have put a $1 billion price tag on the hotel and land package.
MGM and TI spokespeople would not comment, but multiple sources have told the Review-Journal that MGM was selling the property.