Contact Us
Make My Homepage

Pinnacle Selling Casino Site in Atlantic City

Pinnacle Entertainment is selling the land where it once planned to build a $2 billion casino in Atlantic City.

Driendl Group, Getty Images

The Las Vegas casino company tells federal security regulators it has reached a deal to sell its nearly 20-acre site to a buyer it did not identify, for $30.6 million.

Pinnacle bought the former Sands Casino Hotel in 2006 for $270 million. It imploded the casino-hotel and made plans for a new casino with a beach house theme.

But those plans never advanced beyond the drawing board as the economy crashed and Atlantic City’s gambling revenue began a six-plus year slump from which it still has not recovered.

The company says the sale of its land should close by the end of this month, assuming financing can be worked out.

 

(Copyright 2013 by The Associated Press. All Rights Reserved.)

Best of NJ 101.5

Recommended For You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to http://nj1015.com using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for New Jersey Insiders quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive New Jersey Insiders contests, events, coupons, presales, and much more delivered to you for FREE.