On March 20, 1995, Circus Circus Enterprises announced that it had agreed to acquire Gold Strike Resorts, a closely held budget casino owner and operator based in Jean, Nevada, in a deal valued at more than $600 million. The total cost for the remodel was estimated to be $125 million. It was rebranded in 1997 as Gold Strike Tunica and given a more upscale theme. Circus Circus Enterprises held a majority stake in that Reno resort.Ĭircus Circus Tunica opened on August 29, 1994. The $350 million hotel opened on July 28, 1995. The group entered into a joint venture in 1993 with Don Carano of Eldorado in Reno to develop and build Reno's largest and tallest megaresort titled Silver Legacy. The group subsequently developed the Excalibur in 1990, the Luxor in 1993 and the Mandalay Bay in 1999 for which the group was renamed. The company planned to move the unprofitable Colorado Belle to make room for an expansion of the Edgewater. The next year, the company bought the neighboring Colorado Belle casino from Advanced Patent Technology and John Fulton for $4 million. In 1983, Circus Circus purchased the Edgewater Hotel and Casino in Laughlin, Nevada for $17 million. Its converted Circus Circus (originally developed for the upmarket) and later Excalibur properties offered gaming opportunities for adults and separate non-gambling games and theme-park-style experiences for underage visitors under the same roof. The company's properties found success in the 1980s offering a Las Vegas experience to families subsequently experimented upon by its competitors.
The company went public in 1983 and traded on the New York Stock Exchange. The original majority owners of CCE were William Pennington, a former oil lease speculator and William Bennett, a former furniture salesman and the manager of The Mint Las Vegas casino.Ĭircus Circus Enterprises purchased the Silver City Casino and Slots-A-Fun Casino in 1979 for $30 million, then refurbished both the interior and exterior. The company incorporated as Circus Circus Enterprises (CCE) in 1974 to purchase Circus Circus from Sarno at a time when the casino was experiencing financial difficulties. The company was originally known as Circus Circus Enterprises and originated with Jay Sarno's 1968 opening of the Circus Circus as well as a Circus Circus in Reno, which opened in 1978. 2 Hotels and casinos when acquired by MGM Mirage.
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