5 Vegas Casinos That Will Close Next

7 Vegas casinos closed in the last 2 years. 58 buffets gone. The Strip is bleeding properties. And 5 more are on the chopping block. Here's my prediction for which Vegas casinos will close next, ranked from least to most likely.

#5: HARRAH'S LAS VEGAS (30% likely)

Center Strip, 3,644 rooms, owned by Caesars
Prime real estate worth more than outdated property
No differentiation (not luxury, not budget, just... middle)
Needs $500M renovation Caesars won't spend
Last major update: 2013 (12 years ago)
Caesars CEO says company is "asset-light," willing to sell underperformers
Safe for now, vulnerable in 5-7 years if revenue declines

#4: THE LINQ (40% likely)

Center Strip, 2,256 rooms, owned by Caesars
Zero identity, generic, forgettable
Formerly Imperial Palace (low-quality reputation)
Caesars owns 4 mid-tier properties within walking distance (Linq, Harrah's, Flamingo, Paris) - consolidation makes sense
Nobody has emotional attachment to 12-year-old rebrand
Closes in 5-10 years if budget customers shift to competitors

#3: EXCALIBUR (65% likely)

South Strip, 3,981 rooms, owned by MGM
Worst-rated Strip property on TripAdvisor/Yelp
Dated, musty, broken fixtures, stained carpets
Needs $300-500M renovation MGM won't spend on budget property
Can't "de-theme" a castle - must demolish and rebuild
MGM CFO said they're considering new tower "in front of where Excalibur currently sits" (2022)
50 acres of prime land worth more than low-rate castle
Closes in 5-8 years when MGM announces replacement project

#2: CIRCUS CIRCUS (75% likely)

North Strip, 3,767 rooms, owned by Phil Ruffin
Worst property in Vegas - 300+ one-star reviews
"Dirty, outdated, smells, safety concerns"
OWNER IS ACTIVELY SELLING (announced Jan 2025)
Ruffin: "I'm selling it for the land. 102 acres. That's the land play."
Bought for $825M (2019), expects to sell for $5B
Will be demolished when buyer found
Announcement within 2-4 years

#1: TROPICANA SITE (85% likely to stay empty)

Already demolished (Oct 9, 2024)
Supposed to be Oakland A's baseball stadium
THE STADIUM WON'T GET BUILT:

Costs: $2B (rising), financing doesn't exist
Owner John Fisher searching for $500M investors for 20 months = ZERO found
Timeline impossible: 35 months to build $2B stadium with no secured financing
Nobody wants the team (can't fill 14k seats in Sacramento)
Nevada can pull $380M funding if conditions not met


Most likely: Project collapses, site stays empty for 5+ years
Demolished Vegas icon for nothing

WHY THESE WILL CLOSE:

Declining revenue, can't compete
Deferred maintenance, renovation costs prohibitive
Owners actively seeking exits
Land worth more demolished than operating
Vegas consolidating around luxury, eliminating budget options

7 casinos closed in 2 years. 5 more coming. The Strip is dying one property at a time.

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