After almost two years of being close-mouthed, Pinnacle Entertainment has finally revealed that the new casino complex planned for Atlantic City will have a “beach house” theme.
“We have a beach here, and that’s something that distinguishes us from our competitors,” company spokeswoman Pauline Yoshihashi said. “We think it’s a great distinguishing factor for us.”
Unfortunately, the project has been on hold since February and probably won’t happen anytime soon. The new mega-casino is slated to be built on the former site of the Sands Casino Hotel. That historic casino was was demolished last fall which is when the US credit market tightened up. The company is prepared to “inch toward having a project that can be built when the capital markets improve,” according to Pinnacle chairman Dan Lee.
Lee said the design work has almost been completed for the upwards of $2 billion dollar project and that the company has most of the land it needs. He said that the company plans to start approaching retailers and restaurateurs that may be interested in locating in the new casino. He went on to say that the company can’t start building it in the immediate future, however.
“We can’t finance this thing today, anyway,” he said. “I don’t think anybody can. We’ve gone into a little bit of a holding pattern.”