[cjk73]

Sands to be leveled soon, but is currently still standing (October?).

AC revenue is down but if you "add back" the Sands revenue it is not down. Keep in mind that the market dynamics in AC are very different from Vegas. If you shut down a hotel in Vegas, the others will likely simply absorb the business...this is absolutely NOT the case in Atlantic city. You simply cannot get a room within 10 miles of AC during summer weekends within 5-7 days. With so many other better beach destinations people just go elsewhere when they cannot get a room.

In Atlantic City the "if you build it, they will come phrase" rings true (with regards to hotel room capacity).