Phil Ruffin, the Casino Mogul and Presidential Confidant, Prepares for His Next Big Gamble
Phil Ruffin, the 89-year-old casino magnate and close friend of incoming President Donald Trump, is contemplating the sale of his iconic Las Vegas property, Circus Circus. Despite his advanced age, Ruffin shows no signs of slowing down, arriving at his desk at Treasure Island, another of his Vegas casinos, by 5 a.m. most days. His relentless work ethic is fueled by a passion for the industry and a keen eye for lucrative opportunities. While he could comfortably retire, Ruffin dismisses the notion, preferring the thrill of the deal and the dynamic world of Las Vegas. He views his business endeavors not just as a means to an end, but as a vital part of his life’s purpose.
Circus Circus, acquired by Ruffin from MGM in 2019 for $825 million (approximately $1 billion today), represents more than just a casino; it’s a 102-acre parcel of prime real estate on the north end of the Las Vegas Strip. Ruffin, whose estimated net worth ranges from a conservative $4.7 billion to his own claim of $8 billion, sees the land’s potential as the true prize. While the casino itself may be showing its age and struggling to compete with the glitz and glamour of newer resorts further down the Strip, Ruffin’s vision extends beyond its current state. He envisions the vast acreage as a canvas for future development, drawing parallels to his highly profitable sale of the Frontier casino in 1998, which yielded a sevenfold return on his initial investment.
The north end of the Strip, while historically less prosperous than its southern counterpart, is experiencing a resurgence with the addition of attractions like the Sphere, a $2.3 billion entertainment venue, and the newly opened Resorts World Las Vegas. While these ventures have faced financial challenges, the area’s potential remains undeniable. The arrival of the Oakland A’s, who plan to build a new stadium on the site of the demolished Tropicana casino, further bolsters the north Strip’s appeal. Ruffin believes his 102-acre Circus Circus property, strategically located near these developments, is the "best piece of land on the West Coast," poised for exponential growth in value.
Ruffin’s reputation in Las Vegas precedes him. Industry insiders like Soo Kim, chairman of Bally’s Corporation, recognize his astute business acumen, particularly his acquisition of Treasure Island, as a stroke of genius. Gaming analyst Chad Beynon notes the northward shift of Las Vegas’s center of gravity, further validating Ruffin’s investment in the north Strip. His success isn’t solely attributed to market trends; it’s a product of his sharp instincts, bold decision-making, and deep understanding of the Las Vegas landscape.
Beyond his casino empire, Ruffin maintains a close personal and business relationship with incoming President Donald Trump. Their friendship spans decades, with Trump serving as Ruffin’s best man. They co-own the Trump International Hotel in Las Vegas and have spent numerous New Year’s Eves together at Mar-a-Lago. Ruffin, a frequent source of advice for Trump, though often unheeded, discussed various policy issues with the President-elect, including tariffs, the Panama Canal, immigration, and the war in Ukraine. He expresses confidence in Trump’s ability to resolve complex issues, reflecting a deep trust in his friend and business partner.
Ruffin’s ambition extends beyond Nevada. He’s currently developing a $200 million casino and entertainment complex in his hometown of Wichita, Kansas, called The Golden Circle. This project, slated to open later this year, demonstrates his commitment to diversifying his portfolio and investing in his roots. Upon the sale of Circus Circus, Ruffin plans to reinvest the proceeds in another property, potentially on the Las Vegas Strip or in another promising market. This strategy allows him to defer capital gains taxes while continuing to expand his empire. He remains actively searching for the right opportunity, driven by an insatiable appetite for growth and a belief in his ability to identify and capitalize on undervalued assets.
Phil Ruffin’s story is a testament to the American dream. From humble beginnings in Wichita, Kansas, where he once found himself down to his last 28 cents, he built a multi-billion dollar empire. His unwavering drive, shrewd business sense, and powerful connections have positioned him as a major player in the world of casinos and beyond. As he approaches his 90th birthday, Ruffin shows no signs of slowing down, ready to place his next big bet and further solidify his legacy as a self-made billionaire and a true icon of Las Vegas.
