Pinnacle cuts staff on stalled Atlant...

Pinnacle cuts staff on stalled Atlantic City casino project

There are 1 comment on the Press of Atlantic City story from Aug 21, 2008, titled Pinnacle cuts staff on stalled Atlantic City casino project. In it, Press of Atlantic City reports that:

Pinnacle Entertainment Inc. has cut its work force on an estimated $1.5 billion to $2 billion casino project that remains in limbo.

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#1 Aug 21, 2008


Pinnacle cuts staff on stalled Atlantic City casino project

(Published: Thursday, August 21, 2008)

From Press staff reports

ATLANTIC CITY - Pinnacle Entertainment Inc. has cut its work force on an estimated $1.5 billion to $2 billion casino project that remains in limbo.

Spokeswoman Carmen Gonzales confirmed Wednesday that the company has laid off "a few" workers, but she declined to say how many or explain why the cuts were made.

Pinnacle Chairman Dan Lee told gaming analysts during a conference call in May that the company had about 18 employees in Atlantic City, about half of them security guards.

The Las Vegas-based company has put construction of the casino on hold at least until 2010 as it waits for the global credit crunch to ease. A "beach house" theme is under consideration as it tweaks the designs for the project, which is proposed on the site of the old Sands Casino Hotel.

Members of the state Casino Control Commission are likely to press Lee for more details when he appears at their board meeting today to testify about Pinnacle's compliance with New Jersey gaming regulations.

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