MGM expects to record a third-quarter impairment charge of about $220 million in connection with the transaction, the company said in a news release. Ruffin, noting that Circus Circus has anchored the north end of the Strip for more than 50 years, said he was "excited to add it to my casino portfolio." MGM acquired Circus Circus in connection with its acquisition of Mandalay Resort Group in 2005. Opened in 1968, the casino has 2,300 employees and includes the Adventuredome amusement park, a 10-acre RV park and a 37-acre festival grounds. "On behalf of the entire MGM Resorts family, we would like to thank our dedicated employees who have worked diligently to ensure the long-term success of this iconic property," said Ann Hoff, president and COO of Legacy Portfolio Properties.