I’m back home after about 10 days on the road.  In that time I lost a travel buddy for my trip to Las Vegas.  Along with a friend, I lost my comp rooms at Paris.  I still have rooms on hold at Palazzo and I’ll take a look at my offers when Planet Hollywood becomes part of Total Rewards, so I’m not really sweating it.

Even though I was away, I was still able to get a handful of blogs up.  Lots of east coast action, which is always fun.  Enjoy the week that was.

• Thoughts on Manny and Clottey
• The Race Is On! Sands Looks To Table Games July 1
• Pile of Dirt or Parking Lot
• Rapid Craps!
• Mini Casinos Coming To Atlantic City
• Hard Rock Casino Coming To Atlantic City?

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What would you prefer instead of a casino – a pile of dirt or a parking lot?  A month ago Pinnacle announced there were not going to build a casino on the land where Sands used to stand.  There has been a pile of dirt sitting on the land for a couple of years now.  While they prepare to sale the property Pinnacle is considering cleaning up the property.

Pinnacle would pave the site to create a temporary parking lot serving the downtown business district and Boardwalk attractions. Plans also include decorative lighting, landscaping and new sidewalks to replace those torn out by Pinnacle on Indiana and Kentucky avenues and Dr. Martin Luther King Jr. Boulevard. The chain-link fence surrounding the property would also be removed, Mason said.

This won’t “clean up” Atlantic City, but anything that can be done to get this land to change hands quicker is another step towards a new casino.  Nothing will happen quickly, but this could only be a good thing.

Photo from Atlantic City Tripping

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• March 28, 2010 -- Week In Review
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I was doing a little reading this morning and found something interesting at the bottom of another gloomy article about Atlantic City.  The beginning of the article touches on Pinnacle and MGM Mirage leaving Atlantic City.  Towards the end the article touches on a note that may have been forgotten that gives the market a glimmer of hope.

..at last spring’s East Coast gaming conference, N.J. State Sen. Jim Whelan (D., Atlantic) floated the idea of modifying state regulations requiring investors to build casinos with at least 500 hotel rooms.

I said glimmer…

Perhaps allowing smaller hotels will give investors reason to look at building in Atlantic City.  I’ve liked this idea for a while, as this was touched on last year.  I know that if the Chelsea Hotel had a small casino I would frequent it more than I do now.

This idea has been on the table for almost a year with no movement, so I don’t expect movement any time soon.  If a company really want to build, I can’t imagine the government saying no.  I have to assume that there aren’t any real prospects, no matter what the press reports.

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I’m fully converted to my macbook and loving it.  I know I’m not using it to it’s fullest ability, but I’ve been enjoying it.  This week I decided to write up a review for the movie “Tyson” and enjoyed doing it.  I’ll do some more of these in the future when I watch movies that involve gambling, casinos and sports.  Now for the week that was, excluding the Super Bowl.

• 10 Suggestions for Atlantic City
• “Tyson” Review
• Sports Betting and New Jersey Getting Closer..
• Saints Make Vegas Casinos Winners
• Pinnacle Puts Atlantic City Land Up For Sale

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Ever want to buy 19 acres of dirt?  It’s by the ocean…

Almost 4 years after buying and imploding Sands casino in Atlantic City, Pinnacle Entertainment gave up on their plans to build a new casino next to Bally’s.

Pinnacle owns 19 acres of oceanfront property between Indiana and Kentucky avenues in the heart of the Boardwalk. Pinnacle executives did not disclose how much the company will ask for the land. The company bought the Sands and its surrounding property for $270 million in 2006, but wrote down the land by $160 million in the fourth quarter of 2009 to reflect falling real estate values.

Pinnacle cited Atlantic City’s prolonged gaming slump, fierce competition from casinos in surrounding states and the fragile economy as reasons for killing a project that looked less and less likely after it was put on “indefinite hold” in late 2008.

“Atlantic City is no longer a good strategic fit for us, given the current economic outlook, the state of the financing markets and the major capital commitment that would be required,” Pinnacle spokeswoman Pauline Yoshihashi said. “It’s an attractive and well-located site, and may be a better strategic fit for another company.”

No surprises here, but it’s disappointing to look back at the potential of new casinos in Atlantic City just a few years ago and now Atlantic City seems as if it’s gambling economy is hanging by a thread.  Instead of looking back in sadness let’s watch the implosion of Sands and remember the potential of a few years ago.

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• October 19, 2009 -- Pinnacle Atlantic City Head Escapes
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