Kim Townsend No Longer With Pinnacle

Kim Townsend No Longer With Pinnacle

Since: Feb 08

Location hidden

#1 Mar 29, 2010
pressofAtlanticCity.com

CEO of Pinnacle's ill-fated Atlantic City casino leaves company

By DONALD WITTKOWSKI, Staff Writer | Posted: Monday, March 29, 2010

ATLANTIC CITY - The chief executive officer who oversaw Pinnacle Entertainment's plans for a lavish Boardwalk casino hotel has left the company only a month after the project was scuttled.

Kim Townsend confirmed Monday that she is no longer with the Las Vegas-based gaming company, but declined to comment further. Pinnacle also would not release details about her departure.

"Kim is no longer with Pinnacle and we wish her well. The company's Atlantic City operations are being overseen by our corporate legal department," Pinnacle spokeswoman Pauline Yoshihashi said in a tersely worded e-mail statement.

Townsend's future with Pinnacle appeared tenuous after the company announced in February that it had killed plans for a $1.5 billion gaming resort on the former site of the Sands Casino Hotel. The company cited Atlantic City's prolonged gaming slump, competition from casinos in surrounding states and the sluggish economy as reasons for scrapping the project.

Last October, Pinnacle announced that Townsend would leave Atlantic City to take charge of Pinnacle's Lumiere Place casino in downtown St. Louis. However, Pinnacle abruptly changed its plans in January, deciding not to send her to St. Louis after all. The company did not explain why.

Townsend was close to Dan Lee, Pinnacle's former chairman and the driving force behind the Atlantic City casino. Lee named Townsend as CEO of the project in September 2007.

Lee resigned from Pinnacle last November after he allegedly threatened a St. Louis official over a zoning change in favor of a rival casino company. Missouri gaming officials investigated the incident, but declined to take disciplinary action against Lee.

In headier times, Pinnacle spectacularly imploded the old Sands casino in the fall of 2007 to create room for its proposed megaresort. The company put its plans on hold the following year as the recession and global credit crisis began to jolt the casino industry. Finally, came the decision to end the project altogether.

Pinnacle has been criticized in recent weeks by city officials for leaving a gigantic dirt lot where the Sands once stood. Councilman Dennis Mason said the barren property "looks a little like a street in Somalia."

Pinnacle has put the land up for sale. In the meantime, Mason and other officials hope Pinnacle will convert the site into a temporary paved parking lot while a new buyer is sought.

Posted in BREAKING on Monday, March 29, 2010 3:30 pm Updated: 3:33 pm.

Since: Feb 08

Location hidden

#2 Dec 24, 2010
I wondered what became of Ms. Townsend. Now I read that she is suing Pinnacle in New jersey District Court for breach of contract. It just never ends with this company.
Allan Currie

Berlin, NH

#3 Apr 1, 2011
Ms Townsend was my supervisor many years ago at the Golden Nugget in Atlantic City. She was without a doubt the best Executive I ever worked with in 21 years in A.C. She will be a CEO somewhere I am sure.

Since: Feb 08

Location hidden

#4 Apr 4, 2011
Perhaps when Mr. Lee gets his Creative Casinos up and going she will wind up with him again.

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