William Hill Lays Another Strip Bet, Plants Flag at Ruffin-Owned Circus Circus

Posted on: December 21, 2019, 11:10h. 

Last updated on: December 22, 2019, 10:12h.

Todd Shriber @etfgodfather Read More

Expertise: Financial, Gaming Business, Mergers and Acquisitions.

William Hill added to its roster of Nevada sports betting locations Friday, opening a sports book at the Circus Circus on the Las Vegas Strip.

MGM Resorts International finalized the sale of that venue to billionaire investor Phil Ruffin on the same day after the Nevada Gaming Commission (NGC) approved the transaction on Thursday.

Ruffin, who also owns Treasure Island on the Strip, and William Hill have plans to refurbish the Circus Circus sportsbook in a bid to lure more bettors to the venue.

The sports book will be renovated after the Super Bowl, with plans for a grand opening celebration ahead of the 2019/2020 March Madness College Basketball Tournament,” according to a statement issued by the sportsbook operator. “The remodeled space will feature updated video screens, odds boards, seating, and more.”

The UK-based company and Ruffin have previously worked together, as the firm recently opened a racebook at Ruffin’s Casino Miami in Florida.

William Hill Keeps Growing on the Strip

News that it’s opening a sportsbook at Circus Circus extends a busy stretch for William Hill, as the company has been solidifying its status as one of the dominant operators of retail sports betting locations in Sin City.

Last month, William Hill purchased the books at the Cosmopolitan, Palazzo, Venetian, and the Tropicana on the Strip, as well as the sports wagering locations the Palms and Silverton from CG Technology (CGT). Financial terms of those buys weren’t disclosed.

Circus Circus is a Las Vegas landmark with more than 50 years of history,” said William Hill CEO Joe Asher in the statement. “The north end of The Strip has so many new and updated offerings opening over the next few years, and we’re excited to plant another flag in this part of town.”

The company’s Circus Circus outlet is its 114 brick-and-mortar sports betting establishment in Nevada.

Other Plans

Ruffin paid $825 million for Circus Circus – $662.5 million in cash and a $162.5 million note coming due in 2024. The investor has said renovations to the property’s 4,000 guestrooms could happen in the future. Treasure Island, Ruffin’s other Strip venue, recently completed room enhancements.

The new owner also mentioned Friday that he’s considering adding a water complex with pools, wave machines, and faux beaches as part of a plan to cement the venue’s status as a family-friendly destination. Ruffin also mentioned to Nevada regulators that he’d like to include a 2,000-seat theater at Circus Circus for a new Cirque du Soleil show, reports the Associated Press..

The north end of the Strip is often overlooked compared to other parts of the famous gaming area. But it’s near the Las Vegas Convention Center, and the north end is where the $4.3 billion Resorts World property is slated to open in 2021.