Pinnacle Close to Selling Atlantic City Boardwalk Site
Pinnacle Entertainment, the Las Vegas casino company that bought and blew up the former Sands Casino Hotel to make way for a $2 billion casino that never got built, says it's close to selling the prime Boardwalk site where the project would have gone.
Pinnacle says it expects to have a deal in hand by the end of the year to sell its land. It did not say who the prospective buyer is, or what the price might be.
The firm imploded the Sands in October 2007 to make way for a $2 billion beach house-themed casino. But almost as soon as the rubble was cleared away, the Great Recession hit, and the project was shelved soon afterward.
(Copyright 2012 by The Associated Press. All Rights Reserved.)