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Posted At : March 10, 2009 12:32 PM | Posted By : D McKee
Related Categories:
Economy,Pinnacle Entertainment,Atlantic City
"To build what we had hoped to build in Atlantic City takes an era of dreaming. It takes an era where greed is good, we should all have a good time. We seem to be transported to Scandinavia: We have to hide our wealth, drive modest cars, conspicuous consumption is out. We live in an era where it's just not possible to build what we had anticipated in Atlantic City. Someday, hopefully it's a better world, or somebody shows up and offers us a better deal ... If we had an auction on that land, I'm not sure anybody would show up." -- Pinnacle Entertainment CEO Dan Lee, rationalizing his company's abandonment of its Atlantic City project.
I believe Pinnacle never intended to build in Atlantic City. They never announced any specific plans, but were going to demolish and flip the Sands site. After staying at their "showcase" Luminiere in St Louis last year just before Memorial Day and not having a place open in the hotel to have breakfast, I knew they were not ready for the "A list"
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