Phil Ruffin, a close friend of soon-to-be US President Donald Trump, has outlined his plans to sell the Circus Circus casino in Las Vegas. He explained in an interview with Forbes, deeming the 102-acre real estate the property sits on the “best piece of land on the West Coast,” as it is beside the highway and encompasses a major position on the Strip.

bought the resort in October 2019 for $825m and believes it is now worth $5bn

Ruffin bought the resort in October 2019 for $825m from MGM Resorts and believes it is now worth $5bn. The 88-year-old said he has had inquiries from several potential buyers, emphasizing how the investment is a “land play” rather than a gambling-related project.

After selling the Circus Circus, the billionaire intends to purchase another Strip resort, as this will help him avoid a big capital gains tax bill.

Ruffin has a long history in the gambling sector, most notably when he purchased the Frontier (now a Wynn Resorts-owned vacant site) for $165m when the owners were embroiled in a long-running dispute with workers. Ruffin resolved the matter and flipped it for $1.2bn less than a decade later.

He’s also in the middle of developing a casino in his hometown in Kansas, with the $200m investment transforming a former greyhound racetrack into The Golden Circle gambling facility.