Ĭircus Circus Enterprises became Mandalay Resort Group in 1999, and ownership of the Excalibur was passed to MGM Mirage in 2005, after it acquired the company. On March 21, 2003, Josh Ford of Los Angeles hit the largest Megabucks Jackpot to date of US$39.7 million at Excalibur. The Excalibur was among new entertainment-oriented megaresorts to open on the Strip, continuing a trend started by the Mirage in 1989. The $290 million resort opened on June 19, 1990, receiving 30,000 visitors on its first day. Marnell Corrao Associates served as the general contractor. Groundbreaking for the Excalibur took place on October 7, 1988. It is named after King Arthur's mythical Excalibur sword. More than 180,000 entries were made, and the winning name, 'Excalibur', was selected from more than 33,000 names. The company held an international contest to determine the name of the new resort. Ĭircus Circus Enterprises purchased the vacant site in May 1988, and announced plans a month later to build a castle-themed resort on the land. The Xanadu was never built, as its developers could not secure a deal with the county on the sewer infrastructure such a large project would have required. The property was once the proposed site of the Xanadu, a 1,730-room resort announced in 1975.

The Excalibur occupies approximately 50 acres (20 ha), located along the Las Vegas Strip at the southwest corner of the Tropicana – Las Vegas Boulevard intersection. Tournament of Kings, a medieval-themed show featuring sword fights and jousting, is the longest-running dinner show on the Strip. The Excalibur has hosted numerous shows, including Thunder from Down Under, which opened in 2002 and is the longest-running male revue in Las Vegas. It was the largest hotel in the world until the opening of the nearby MGM Grand in 1993.

Construction began in October 1988, and the resort opened on June 19, 1990. Bennett and the design team traveled to castles throughout Europe for inspiration. The castle theme was conceived by company founder William Bennett, and the resort was designed by Veldon Simpson. The $290 million property was developed by Circus Circus Enterprises. Property features include a 92,389 sq ft (8,583.2 m 2) casino, a 28-story hotel with 3,981 rooms, and various restaurants. The resort features a medieval castle theme and is named after King Arthur's mythical Excalibur sword. It is owned by Vici Properties and operated by MGM Resorts International.

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