MGM Resorts International is in talks to sell Circus Circus to TI owner Phil Ruffin, the Las Vegas Review-Journal reports.
Ruffin and MGM reached a handshake agreement on Sept. 12 for him to buy the hotel-casino, along with the Las Vegas Festival Grounds parcel, according to a person familiar with the negotiations.
Talks with other interested buyers ceased on Sept. 13.
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Neither party has signed paperwork finalizing the sale, according to the source.
MGM Resorts was said to have put a $1 billion price tag on the hotel and land package.
MGM and TI spokespeople would not comment, but multiple sources have told the Review-Journal that MGM was selling the property.