New casino planned for AC north of Showboat - Page 2

FiveFingerz · #11 08-30-2007, 03:34 PM

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pinnacle paid relatively little for the property and could pretty much do whatever they want (sell, build, re-merger, etc) and still make out ok in the end.

the day they announced the sands purchase, they emphasized that the earliest something would open is 2010. they have not named the project and no construction has begun (much less the implosion of the sands itself first). there is no rush for them to do anything.

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Actually they have started work, you'd be surprised how much work has to take place before an implosion can occur and new construction can begin. Its not just a simple blow it up and start over. They had an auction back in april/may to get rid of most of interior stuff. Now they are in the process of gutting the inside, you'll probably see the sands imploded by late 07 early 08.

pocketpared · #12 08-30-2007, 04:28 PM

I wouldn't mind pressing the button on that decrepit old sweatbox.

pa3lsvt · #13 08-30-2007, 06:26 PM

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I wouldn't mind pressing the button on that decrepit old sweatbox.

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... with water dripping on your head as you enter the poker room.

Poshua · #14 08-30-2007, 07:53 PM

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Pinnacle has recently said they won't build if AC rezones the old airport and allows Steve Wynn to build a casino there. Either way, at the moment it looks like AC lost 1 casino, Sands, and is gaining 2. Of course, casino revenues have dropped the last 6 of 7 months so I wouldn't be surprised if plans are dropped. MGM and Foxwoods were going to do a joint casino in AC but dropped the project and are now planning to build in the Poconos.
http://www.vegastripping.com/news/news.php?news_id=1672

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The Sands site is an outstanding site. If Pinnacle won't develop it, they'll sell to someone who will.

Isn't there supposed to be another casino going up southwest of the Hilton?

Eponymous · #15 08-30-2007, 09:19 PM

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Someone correct me if I am wrong - but is the location this casino will be built right in front of the Bella Condos? If so, watch the price plumet on this place.

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Yes, right in front of Bella. But prices will go up as that whole area becomes revitalized and more valuable. Not to mention all the new employees at that new casino and others that would like to live that close to work. There will still be ocean views from Bella. The Revel tower(s) won't fill the whole width of the property. Just look at the other casinos.

pocketpared · #16 08-30-2007, 09:30 PM

The casino is your friend. Never lose sight of that and keep repeating it to yourself.

cjk73 · #17 08-31-2007, 12:10 AM

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Revenues are down, Sands or no Sands. Pennsylvania slot parlors and racetrack slots are beginning to take their toll.
http://www.state.nj.us/casinos/home/...f/2ndq2007.pdf
I think Pinnacle is starting to get cold feet.

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Thanks for the link, I stand corrected. Was Q1 the situation as I described (up if you add Sands back)? I am almost certain I read one of those type of reports that had shown modest increases vs the prior year when including Sands.

yanxchick · #18 08-31-2007, 02:29 AM

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Someone correct me if I am wrong - but is the location this casino will be built right in front of the Bella Condos? If so, watch the price plumet on this place.

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Yes, right in front of Bella. But prices will go up as that whole area becomes revitalized and more valuable. Not to mention all the new employees at that new casino and others that would like to live that close to work. There will still be ocean views from Bella. The Revel tower(s) won't fill the whole width of the property. Just look at the other casinos.

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The Revel tower will be the biggest in Atlantic City. The reason none of the other casinos have huge towers was because of the now-closed airport. They couldn't build higher than a certain level to allow the planes to come in and land.

Revel has recently been granted a license to build a 700-feet towers. Their current plan is two build two of them with roughly 2,000 rooms in each.

Eponymous · #19 08-31-2007, 09:05 AM

Yes, the towers at the Revel property will be tall, but they won't block all the sightlines of the ocean views from Bella. They're supposed to release some plans in a week or so, I think, so we'll see then.