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The Rio and Circus Circus Sold in Two Blockbuster Deals

Plus a Downtown plot gets a new owner

The Rio with the mountains in the backgrround
The Rio
NAN728/Shutterstock

RIO — Caesars Entertainment confirms that the resort on the westside was sold for $516.3 million to a New York-based real estate group, Imperial Cos. Caesars plans to continue to run the resort for two years, paying $45 million in rent annually. The resort includes restaurants such as Voodoo Steakhouse on the 50th floor, Guy Fieri’s El Burro Borracho, KJ Dim Sum & Seafood, and Wine Cellar & Tasting Room with its collection of 3,000 bottles of wine, valued at more than $3 million. [LVRJ]

CIRCUS CIRCUS — MGM Resorts apparently reached a handshake agreement with TI owner Phil Ruffin to buy the family-friendly resort at the north end of the strip, along with the Las Vegas Festival Grounds across from the Sahara Las Vegas on Sept. 12, the Las Vegas Review-Journal reports. Ruffin bought Treasure Island from MGM Resorts in December 2008 for $775 million and owns half of Trump International in Las Vegas. Circus Circus features the must-visit The Steak House, a fixture at the resort for more than 30 years. [LVRJ]

DOWNTOWN — Terry Caudill, the owner of the Four Queens and Binion’s Gambling Hall, bought the land and building at 601 Fremont St., home of Backstage Bar & Billiards. A partnership between Caudill and Carlos “Big Daddy Carlos” Adley was leasing the site from the City of Las Vegas. The site of the former Sears building, which includes a three-story, 50,000-square-foot building and almost an acre of surface parking across from El Cortez, might become a mixed-use tower with hotel and residential units, retail space, entertainment, restaurant facilities, bar facilities, and more, according to News 3 LV. [News3LV]

All AM Intel [ELV]

Voodoo Steakhouse

3700 West Flamingo Road, , NV 89103 (702) 777-7800 Visit Website

KJ Dim Sum & Seafood

3700 W. Flamingo Road, Las Vegas, NV 89103 702-777-2333 Visit Website

Guy Fieri's El Burro Borracho

3700 W Flamingo Rd, Las Vegas, NV 89103 (866) 746-7671 Visit Website

Wine Cellar & Tasting Room

3700 West Flamingo Road, , NV 89103 (702) 777-7962 Visit Website

The Steak House

2880 Las Vegas Boulevard S, Las Vegas, NV 89109 702-794-3767 Visit Website

Sahara Las Vegas

2535 Las Vegas Blvd. S. , Las Vegas, NV 89109

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