Pinnacle plans beach theme for proposed casino
Beach-themed Pinnacle casino still captive of financial tides (Published: Thursday, August 07, 2008) ATLANTIC CITY - The folks at Pinnacle Entertainment Inc. figure that if you have a beach in front of you, then why not give your casino a beach theme? Trouble is, plans for this casino aren't exactly ... ahem, beachy keen. Giving a sneak peek of the closely guarded concept for its proposed casino, Pinnacle disclosed Wednesday that a "beach house" theme is under consideration as it tweaks the designs for the estimated $1.5 billion to $2 billion project. "We're on the beach, and it's a great distinguishing factor for our project versus some of the newer gaming facilities or projects in the region - Philly, Catskills, etc." Pinnacle spokeswoman Pauline Yoshihashi said in an e-mail statement. But at the same time, Pinnacle executives reiterated that the casino is in limbo until the global credit crisis passes and the company can secure financing for the Las Vegas-style megaresort. "As a practical matter, in these capital markets, we can't finance this thing today anyway. I don't think anybody can if you're trying to build a big property," Pinnacle Chairman Dan Lee told gaming analysts in a conference call. "We're kind of going into a little bit of a holding pattern while we spend small amounts of money on legal fees and stuff like that to try to inch toward a project that can be built as the capital markets recover." In May, Lee revealed that Pinnacle would delay starting construction at least until 2010. He also noted then that the chances of the casino ever being built were 50-50. Pinnacle originally hoped to begin construction this year, with a grand opening in late 2011 or early 2012. Now the credit crunch, the faltering economy and Atlantic City's ongoing casino revenue slump have cast doubt on the project. "We're watching it pretty carefully. There are a lot of moving pieces," Lee cautioned of conditions in the casino market. Pinnacle imploded the old Sands Casino Hotel last fall and has been acquiring surrounding property to create space for its project. Lee said the company controls about 22 or 23 acres and is nearly finished buying property, although its efforts have been hampered by some landowners who are demanding "absurd" prices. "You never get the full footprint that you want, so sometimes you just have to work around things," he said. "In terms of looking ahead, I wouldn't look for any meaningful land purchases additionally in Atlantic City." Pinnacle has bought about $75 million worth of property since it purchased the Sands for $270 million, according to Lee. Property that Pinnacle would like to buy but has been unable to reach agreement with the owners includes a store and adjoining parcels on the Boardwalk and a site along Pacific Avenue, the company said. Meanwhile, Pinnacle has nearly completed conceptual designs for what Yoshihashi described as the beach house theme. "We're not ready to talk about details yet, but that's the concept," she said. For years, casinos seemed indifferent to the beach, but new expansion projects and the next generation of gaming resorts promise to embrace Atlantic City's oceanfront location. Harrah's Resort opened its 960-room Waterfront Tower in March, and Borgata Hotel Casino & Spa followed in June with the 800-room Water Club. Revel Entertainment Group's $2 billion casino, scheduled to open in 2010, will feature an ocean theme and beachfront attractions. Coastal Marina LLC is buying Trump Marina Hotel Casino for $316 million and will rebrand it as a tropical-themed "Margaritavil le" casino inspired by singer Jimmy Buffett's signature song. E-mail Donald Wittkowski: DWittkowski@presso fac.com (1 hr ago | post #3)
Pinnacle plans beach theme for proposed casino
Beach-themed Pinnacle casino still captive of financial tides (Published: Thursday, August 07, 2008) ATLANTIC CITY - The folks at Pinnacle Entertainment Inc. figure that if you have a beach in front of you, then why not give your casino a beach theme? Trouble is, plans for this casino aren't exactly ... ahem, beachy keen. Giving a sneak peek of the closely guarded concept for its proposed casino, Pinnacle disclosed Wednesday that a "beach house" theme is under consideration as it tweaks the designs for the estimated $1.5 billion to $2 billion project. "We're on the beach, and it's a great distinguishing factor for our project versus some of the newer gaming facilities or projects in the region - Philly, Catskills, etc." Pinnacle spokeswoman Pauline Yoshihashi said in an e-mail statement. But at the same time, Pinnacle executives reiterated that the casino is in limbo until the global credit crisis passes and the company can secure financing for the Las Vegas-style megaresort. "As a practical matter, in these capital markets, we can't finance this thing today anyway. I don't think anybody can if you're trying to build a big property," Pinnacle Chairman Dan Lee told gaming analysts in a conference call. "We're kind of going into a little bit of a holding pattern while we spend small amounts of money on legal fees and stuff like that to try to inch toward a project that can be built as the capital markets recover." In May, Lee revealed that Pinnacle would delay starting construction at least until 2010. He also noted then that the chances of the casino ever being built were 50-50. Pinnacle originally hoped to begin construction this year, with a grand opening in late 2011 or early 2012. Now the credit crunch, the faltering economy and Atlantic City's ongoing casino revenue slump have cast doubt on the project. "We're watching it pretty carefully. There are a lot of moving pieces," Lee cautioned of conditions in the casino market. Pinnacle imploded the old Sands Casino Hotel last fall and has been acquiring surrounding property to create space for its project. Lee said the company controls about 22 or 23 acres and is nearly finished buying property, although its efforts have been hampered by some landowners who are demanding "absurd" prices. "You never get the full footprint that you want, so sometimes you just have to work around things," he said. "In terms of looking ahead, I wouldn't look for any meaningful land purchases additionally in Atlantic City." Pinnacle has bought about $75 million worth of property since it purchased the Sands for $270 million, according to Lee. Property that Pinnacle would like to buy but has been unable to reach agreement with the owners includes a store and adjoining parcels on the Boardwalk and a site along Pacific Avenue, the company said. Meanwhile, Pinnacle has nearly completed conceptual designs for what Yoshihashi described as the beach house theme. "We're not ready to talk about details yet, but that's the concept," she said. For years, casinos seemed indifferent to the beach, but new expansion projects and the next generation of gaming resorts promise to embrace Atlantic City's oceanfront location. Harrah's Resort opened its 960-room Waterfront Tower in March, and Borgata Hotel Casino & Spa followed in June with the 800-room Water Club. Revel Entertainment Group's $2 billion casino, scheduled to open in 2010, will feature an ocean theme and beachfront attractions. Coastal Marina LLC is buying Trump Marina Hotel Casino for $316 million and will rebrand it as a tropical-themed "Margaritavil le" casino inspired by singer Jimmy Buffett's signature song. E-mail Donald Wittkowski: DWittkowski@presso fac.com (1 hr ago | post #2)
Pinnacle plans beach theme for proposed casino
Beach-themed Pinnacle casino still captive of financial tides (Published: Thursday, August 07, 2008) ATLANTIC CITY - The folks at Pinnacle Entertainment Inc. figure that if you have a beach in front of you, then why not give your casino a beach theme? Trouble is, plans for this casino aren't exactly ... ahem, beachy keen. Giving a sneak peek of the closely guarded concept for its proposed casino, Pinnacle disclosed Wednesday that a "beach house" theme is under consideration as it tweaks the designs for the estimated $1.5 billion to $2 billion project. "We're on the beach, and it's a great distinguishing factor for our project versus some of the newer gaming facilities or projects in the region - Philly, Catskills, etc." Pinnacle spokeswoman Pauline Yoshihashi said in an e-mail statement. But at the same time, Pinnacle executives reiterated that the casino is in limbo until the global credit crisis passes and the company can secure financing for the Las Vegas-style megaresort. "As a practical matter, in these capital markets, we can't finance this thing today anyway. I don't think anybody can if you're trying to build a big property," Pinnacle Chairman Dan Lee told gaming analysts in a conference call. "We're kind of going into a little bit of a holding pattern while we spend small amounts of money on legal fees and stuff like that to try to inch toward a project that can be built as the capital markets recover." In May, Lee revealed that Pinnacle would delay starting construction at least until 2010. He also noted then that the chances of the casino ever being built were 50-50. Pinnacle originally hoped to begin construction this year, with a grand opening in late 2011 or early 2012. Now the credit crunch, the faltering economy and Atlantic City's ongoing casino revenue slump have cast doubt on the project. "We're watching it pretty carefully. There are a lot of moving pieces," Lee cautioned of conditions in the casino market. Pinnacle imploded the old Sands Casino Hotel last fall and has been acquiring surrounding property to create space for its project. Lee said the company controls about 22 or 23 acres and is nearly finished buying property, although its efforts have been hampered by some landowners who are demanding "absurd" prices. "You never get the full footprint that you want, so sometimes you just have to work around things," he said. "In terms of looking ahead, I wouldn't look for any meaningful land purchases additionally in Atlantic City." Pinnacle has bought about $75 million worth of property since it purchased the Sands for $270 million, according to Lee. Property that Pinnacle would like to buy but has been unable to reach agreement with the owners includes a store and adjoining parcels on the Boardwalk and a site along Pacific Avenue, the company said. Meanwhile, Pinnacle has nearly completed conceptual designs for what Yoshihashi described as the beach house theme. "We're not ready to talk about details yet, but that's the concept," she said. For years, casinos seemed indifferent to the beach, but new expansion projects and the next generation of gaming resorts promise to embrace Atlantic City's oceanfront location. Harrah's Resort opened its 960-room Waterfront Tower in March, and Borgata Hotel Casino & Spa followed in June with the 800-room Water Club. Revel Entertainment Group's $2 billion casino, scheduled to open in 2010, will feature an ocean theme and beachfront attractions. Coastal Marina LLC is buying Trump Marina Hotel Casino for $316 million and will rebrand it as a tropical-themed "Margaritavil le" casino inspired by singer Jimmy Buffett's signature song. E-mail Donald Wittkowski: DWittkowski@presso fac.com (1 hr ago | post #1)
APNewsBreak: Pinnacle proceeding with AC casino
AP has lost all credibility with this headline. The AC project is going no where. (1 hr ago | post #3)
Victory for some in fight against eminent domain in Atlantic City
Castlewatch Institute for Justice Home Official Blog of the Castle Coalition Atlantic City Planning Board tries to divide and conquer take-business.jpg… but it’s not going to work. Last week, the Atlantic City Planning Board approved their “recommendations” for a proposed area in need of redevelopment. It’s not necessarily “in need of redevelopment” but Pinnacle Entertainment wants to build a new casino. Since casinos are pretty much synonymous with Atlantic City, it was assumed the planning board would basically rubberstamp the plan. But they didn’t. As The Press of Atlantic City reports, “[A]t the last minute, Planning Director William Crane recommended the exemption of a few lots within the area targeted for redevelopment, designed to allow Pinnacle to expand its property for a $1.5 billion casino project. Among those excluded was Barth’s Park Lane Apartment Hotel.” Interestingly, also among those excluded was a condo owned by Councilman John Schultz that’s located in a “business building,” which used to house an abortion clinic before it was shut down for health violations. One of the properties not excluded was Kim Son Jewelry owned by Quang Ha. Ha is an experienced entrepreneur, having owned a bicycle tire factory in North Vietnam before he was arrested and imprisoned for his capitalistic behavior. He escaped from Vietnam, floating on a boat to China where he ended up in a refugee camp in Hong Kong. Ha learned the jewelry trade after coming to the U.S. and set up shop in Atlantic City precisely because of the opportunity to run a successful business there. What makes the sudden decision of the Planning Board even more perplexing is that Vince Barth and Quang Ha are both represented by Princeton attorney William Potter. Potter thought the decision suspect: “Right now it looks to me like a curious attempt to carve out one of my clients but not the other,” said Potter, a Princeton-based attorney representing both men. “It’s definitely appropriate to carve out the Park Lane hotel, but to separate the two is arbitrary and capricious.” The plan should come before the full city council for a vote in a couple of weeks. Now it should be added that council members are voting on a blight designation for a project that might not even happen. Again for the Press of Atlantic City’s article: Building a project as big and important as this, your plans are always changing,” Zeitz said. “Plans have been changing from the get-go.” One major alteration was Pinnacle’s announcement in February that the credit crisis is preventing the $1.5 billion project from progressing. Pinnacle officials have since conceded that the property may be sold and the company could scrap plans to build in Atlantic City. So, the bottom line is: The city council will be voting to allow the city to acquire private property to hand over to a private developer who says openly not only that it might not be able to finance the proposed project, but it might close up and leave town altogether whether or not they get the property they want. Ha intends to keep fighting to save his jewelry business, and even though Barth’s property is safe, he intends to keep on fighting for his neighbors’ property rights. So far, the property owners still affected by the plan have Mayor Scott Evans on their side and a couple of other city council members, but it’s not certain whether the city council will approve the plan or not. Filed under: New Jersey by Chris Grodecki Date 26 June, 2008 Copyright © 2008 Castle Coalition RSS Feed (Jun 27, 2008 | post #8)
Victory for some in fight against eminent domain in Atlantic City
EMINENT DOMAIN IN AC? Veronica Dudo ( vdudo@nbc40.net ) - 3/26/08 04:59 pm Last Updated - 3/26/08 11:34 pm E-mail Story Print Story Watch Video ATLANTIC CITY---"This is just abuse to me!" For almost a decade, Tracy Thompson's family, has relied on their business along Atlantic Avenue in Atlantic City, for income, but after learning that Pinnacle Entertainment could claim eminent domain, she says their livelihood would be lost! So, Wednesday she joined other business owners and officials to protest the possibility that the 24 acres around the former Sands Casino, would be up for grabs since the city, deemed it "in need of redevelopment. " Thompson said, "I'm here because I don't want Pinnacle to try to do eminent domain on my business, I don't think I should be here because they're not even building." Also in attendance, Christina Walsh, with the Institute for Justice’s Castle Coalition said, "It's a land grab, I mean they just want to take the businesses and give them to a casino; it doesn't get anymore unjust than that!" But many officials say they would like to make both sides happy and are currently coming up with solutions, Mayor Scoot Evans made his position very clear, "Pinnacle, they do have enough land right now to build a casino, obviously they want more land-they need to build parking garages, but if they want the land, they're going to have to pay for it, they shouldn't be trying to use eminent domain." Steve Moore, the third ward Councilmember says, "We want to encourage the casinos to expand, we want to encourage new casinos to come in, but we also want the small businesses to flourish and to be here. There's a way to do anything, there's a way to work it out." But, just last month Pinnacle announced that there is uncertainty about plans for their two billion dollar mega-casino project. The firm said the project may be abandoned if credit markets don't improve. Meanwhile, these businesses owners say they're just hoping for the best. © 2007 ACCESS.1 COMMUNICATIONS Having Problems? Find Errors? Contact the Webmaster (Jun 20, 2008 | post #7)
Victory for some in fight against eminent domain in Atlantic City
Eminent domain bill advances Friday, June 20, 2008 By Trish G. Graber tgraber@sjnewsco.c om TRENTON A bill to reform the process of eminent domain cleared a Senate committee Thursday, breaking a two-year stalemate on the issue. The sponsors of two competing bills Senate Majority Leader Stephen Sweeney, D-3, of West Deptford, and Sen. Ron Rice, D-Essex reached a compromise to merge their legislation. The measure cleared the Senate Community and Urban Affairs Committee by 3-to-1 vote. Sens. Jeff Van Drew, D-Cumberland, Phil Haines, R-Burlington, and Rice voted in favor of the bill. Sen. Christopher Connors, R-Ocean, opposed the measure. Sen. Dana Redd, D-5, of Camden, abstained. "It's been a long process," Rice said Thursday. While the measures have the same goals, the lawmakers had remained stalled as they failed to reach an agreement on a number of specifics. In the end, the sticking point for Sweeney was an environmental provision in Rice's legislation that would have prohibited government from condemning either environmentally sensitive land or contaminated land if the property owner was working under the Department of Environmental Protection to clean it. Sweeney was concerned the environmental provision would prevent progress in municipalities embarking on redevelopment projects. The provision was dropped from the final bill. "I worked with my colleagues as best I could," said Rice. "There's no such thing as a perfect bill." Sweeney recognized the lengthy negotiation on the reform measure, but said the specifics were important. "Eminent domain is such an important issue," Sweeney said. "We have to get it right." Other than the environmental piece of the bill, the legislators seem largely in agreement. Both pieces of legislation would alter the eminent domain process by providing greater transparency when government is seeking to use the redevelopment tool; providing additional notice to property owners that could be the subject of eminent domain; and increasing compensation to property owners. The new bill also creates a two-tier system for redevelopment. Currently, a property must be declared an "area in need of redevelopment " to be taken through eminent domain for private redevelopment. The bill would create a process for governing bodies to designate areas in need of redevelopment without the intent to use eminent domain. A second process would be created for redevelopment zones in which a governing body plans to use eminent domain. That process would call for additional notice to property owners among other requirements. Rice said he expects the measure to be voted on by the full Senate in the fall. The measure has yet to receive action in the lower house, where it is sponsored by Assemblyman John Burzichelli, D-3, of Paulsboro. © 2008 Gloucester County Times © 2008 NJ.com All Rights Reserved. (Jun 20, 2008 | post #6)
Victory for some in fight against eminent domain in Atlantic City
http://www.atlanti ccitytripping.com/ cityboom/post.php? p=33&src=rss (Jun 19, 2008 | post #5)
Victory for some in fight against eminent domain in Atlantic City
Victory for some in fight vs. eminent domain in Atlantic City The property of Nael Zumot, who owns Atlantic Avenue's Center City Deli, also was excluded from the plan, avoiding another forced relocation for his business. His deli was once located about two blocks east at 1503 Atlantic Ave., but the Casino Reinvestment Development Authority pushed him out with a $110,000 buyout. Zumot was one of several business owners who stormed City Hall in March, armed with signed petitions. Audrey Anderson, owner of Ms. Audrey's Human Connection on Atlantic Avenue, led that charge and had guaranteed victory. "I told you we'd win," Anderson said after the hearing. Mayor Scott Evans, who pledged his support for the city's targeted business owners, entered the meeting only briefly during preliminary discussions before the vote. He then left and did not return until immediately after the vote. Potter cited the mayor's support while claiming he is aware of three councilmen who would oppose any measure that could lead to eminent domain. However, he said he was not certain of their names. "They need to break with the past and not do Pinnacle's bidding for them," he said of the resort's legislators. "That's what we are going to argue to City Council, and we'll argue it in court if we have to." To e-mail Michael Clark at The Press: Michael.Clark@pres sofac.com (Jun 19, 2008 | post #3)
Victory for some in fight against eminent domain in Atlantic City
Victory for some in fight vs. eminent domain in Atlantic City (Published: Thursday, June 19, 2008) ATLANTIC CITY - Vincent Barth's efforts to avoid his property being taken through eminent domain appeared to be all but futile until Wednesday's Planning Board meeting. Over the past seven months of hearings, experts hired by Pinnacle Entertainment fought Barth's arguments. His attorney, William Potter, battled bitterly with a Planning Board frustrated with seven months of hearings. Potter didn't even bother showing up for the board's vote Wednesday morning, assuming it would go unanimously against his client. But at the last minute, Planning Director William Crane recommended the exemption of a few lots within the area targeted for redevelopment, designed to allow Pinnacle to expand its property for a $1.5 billion casino project. Among those excluded was Barth's Park Lane Apartment Hotel. "This is not what I expected," he said after the hearing. "I'm safe." However, the individual victories of Barth and others were the exception, as other owners met with disappointment. Quang Ha, the owner of Kim Son Jewelry, was not excluded in the plan. "Right now it looks to me like a curious attempt to carve out one of my clients but not the other," said Potter, a Princeton-based attorney representing both men. "It's definitely appropriate to carve out the Park Lane hotel, but to separate the two is arbitrary and capricious." Ha, who speaks little English, said he plans to continue fighting the redevelopment plan. The Planning Board's vote acts as a recommendation to City Council, which will form its own resolution to determine whether the area should be designated as blighted, and therefore in need of redevelopment. If passed, the measure would authorize the city to acquire the targeted properties, regardless of the owners' will. Appeals would be heard in state Superior Court and would have to be filed no later than 45 days after City Council's bill was passed. "If this case goes up to court, a judge is going to reverse the decision for the entire area," Potter said. The vote left Pinnacle with less land than it had hoped to acquire, but left company officials reasonably content with the result. "We're generally pleased with the Planning Board and we hope the City Council will agree," said Pinnacle spokesman Carl Zeitz, stressing what he characterized as the positive impact the casino would have on the surrounding Boardwalk properties and the city overall. The redevelopment area originally consisted of four city blocks. The L-shaped area stretched along the beach block from Indiana Avenue to Kentucky Avenue and extended to Atlantic Avenue. However, the board exempted two separate portions along Atlantic and Pacific avenues Wednesday. Zeitz said Pinnacle is accustomed to adapting to change and is confident with the land they have to work with. "Building a project as big and important as this, your plans are always changing," Zeitz said. "Plans have been changing from the get-go." One major alteration was Pinnacle's announcement in February that the credit crisis is preventing the $1.5 billion project from progressing. Pinnacle officials have since conceded that the property may be sold and the company could scrap plans to build in Atlantic City. Among the other properties spared Wednesday were Pacific Avenue neighbors Fischer's Flowers and a business building owned by Councilman John Schultz, which formerly housed an abortion clinic before health violations led to its closing. continued..... (Jun 19, 2008 | post #2)
Victory for some in fight against eminent domain in Atlantic City
Victory for some in fight vs. eminent domain in Atlantic City (Published: Thursday, June 19, 2008) ATLANTIC CITY - Vincent Barth's efforts to avoid his property being taken through eminent domain appeared to be all but futile until Wednesday's Planning Board meeting. Over the past seven months of hearings, experts hired by Pinnacle Entertainment fought Barth's arguments. His attorney, William Potter, battled bitterly with a Planning Board frustrated with seven months of hearings. Potter didn't even bother showing up for the board's vote Wednesday morning, assuming it would go unanimously against his client. But at the last minute, Planning Director William Crane recommended the exemption of a few lots within the area targeted for redevelopment, designed to allow Pinnacle to expand its property for a $1.5 billion casino project. Among those excluded was Barth's Park Lane Apartment Hotel. "This is not what I expected," he said after the hearing. "I'm safe." However, the individual victories of Barth and others were the exception, as other owners met with disappointment. Quang Ha, the owner of Kim Son Jewelry, was not excluded in the plan. "Right now it looks to me like a curious attempt to carve out one of my clients but not the other," said Potter, a Princeton-based attorney representing both men. "It's definitely appropriate to carve out the Park Lane hotel, but to separate the two is arbitrary and capricious." Ha, who speaks little English, said he plans to continue fighting the redevelopment plan. The Planning Board's vote acts as a recommendation to City Council, which will form its own resolution to determine whether the area should be designated as blighted, and therefore in need of redevelopment. If passed, the measure would authorize the city to acquire the targeted properties, regardless of the owners' will. Appeals would be heard in state Superior Court and would have to be filed no later than 45 days after City Council's bill was passed. "If this case goes up to court, a judge is going to reverse the decision for the entire area," Potter said. The vote left Pinnacle with less land than it had hoped to acquire, but left company officials reasonably content with the result. "We're generally pleased with the Planning Board and we hope the City Council will agree," said Pinnacle spokesman Carl Zeitz, stressing what he characterized as the positive impact the casino would have on the surrounding Boardwalk properties and the city overall. The redevelopment area originally consisted of four city blocks. The L-shaped area stretched along the beach block from Indiana Avenue to Kentucky Avenue and extended to Atlantic Avenue. However, the board exempted two separate portions along Atlantic and Pacific avenues Wednesday. Zeitz said Pinnacle is accustomed to adapting to change and is confident with the land they have to work with. "Building a project as big and important as this, your plans are always changing," Zeitz said. "Plans have been changing from the get-go." One major alteration was Pinnacle's announcement in February that the credit crisis is preventing the $1.5 billion project from progressing. Pinnacle officials have since conceded that the property may be sold and the company could scrap plans to build in Atlantic City. Among the other properties spared Wednesday were Pacific Avenue neighbors Fischer's Flowers and a business building owned by Councilman John Schultz, which formerly housed an abortion clinic before health violations led to its closing. continued....... (Jun 19, 2008 | post #1)
Require Pinnacle to landscape its empty lot
Pinky's Corner Borgata to Host ‘Pinky’s Corner’ by Pinky Kravitz Open Letter to Pinnacle C.E.O. Dan Lee Dan, I have not had the privilege of personally meeting you, but according to those I have met that do know you, you are an efficient, caring executive. Looking at your achievements to date, I would have to agree with them. However, your record in Atlantic City leaves much to be desired. When you purchased the Sands Casino Hotel, you stated that you were going to demolish it because it wouldn’t pay for you to keep it operating for another year or less. You intimated that you would be building your Pinnacle Entertainment Casino complex starting sometime in 2009. Since that time, the financial markets have become more difficult to work with, forcing you to postpone that plan. You have recently stated that if there is a correction in the financial markets, you would anticipate beginning construction in 2010. You allowed the Siganos stores, which are on the Boardwalk frontage of your property to remain open through the summer of 2008. Since there will be no construction on the block until 2010, I sincerely request that you allow the Siganos stores to remain open in 2009 as well. To have that block boarded up on the Boardwalk for close to a two-year period is beyond my comprehension. As long as the stores are operating, they bring you revenue, which you obviously need. Why not allow them to stay and, instead of having a fence in front of an empty block, you’ll have attractive stores remaining in place. By doing this, you would show that you care about Atlantic City and your investment. I am also concerned about the chain-link fence that you have around the rest of the block on Pacific Avenue between Indiana Avenue and Dr. Martin Luther King Boulevard. This block is in the center of the city and thousands of cars go by it every day. One sees an unsightly, undeveloped site that gives visitors and residents negative feelings towards you and your company. I would urge you to put a wooden fence around the block with attractive murals on them. There are some outstanding mural painters in this area as well as willing students from the Atlantic City High School’s art classes. At least you would give those passing by something to see instead of an unsightly dirt block with papers blowing around. Pinnacle Entertainment has been kind enough to take down the former people mover and leave the Boardwalk portion to be used as a visitor’s center. For that we are grateful and say thank you. Your company is also going to enhance Brighton Park and for that we are also grateful. I realize that you did not plan for this delay in your project. However, since it has happened, I hope you would make the best of it by making that empty lot attractive, allowing the shops to remain on the Boardwalk and enclosing the rest of the block with an attractive fence. Despite all the rumors to the contrary, I believe Pinnacle Entertainment will develop a magnificent casino complex in Atlantic City and I look forward to your groundbreaking ceremony in 2010. Thank you for your consideration of my suggestions. Pinky’s Corner airs Monday through Friday from 4 to 6pm on News Talk WOND-AM 1400. His TV show, WMGM Presents Pinky, airs Saturday at 7:30pm on TV40. Pinky’s e-mail address is: pinky@acweekly.com . (Jun 11, 2008 | post #2)
Require Pinnacle to landscape its empty lot
Require Pinnacle to landscape its empty lot (Published: Friday, May 30, 2008) For more than 40 years, Atlantic City has endured the empty property between Maryland and Massachusetts avenues known as "Pauline's Prairie." Now, with Pinnacle Entertainment saying construction of its casino is at least two years away, we have the area between Indiana and Kentucky avenues becoming "Pinnacle's Prairie." This is even more embarrassing to the city, as its prime center-city location is visible to all - visitors and locals alike. It would behoove the mayor, City Council or the Casino Control Commission to require the greening of this vast property until construction can be started. I am not suggesting a public park, but a fenced area with grass, shrubbery and trees. This would certainly improve the eyesore that exists now. ROBERT JOHNSON Atlantic City (Jun 11, 2008 | post #1)
Pinnacle profits in first quarter
St. Louis Business Journal - May 12, 2008 http://stlouis.biz journals.com/stlou is/stories/2008/05 /12/daily8.html Monday, May 12, 2008 - 12:02 PM CDT Admissions, revenue down at most St. Louis area casinos in April St. Louis Business Journal - by Matt Allen Of the six casinos in the St. Louis area, five suffered a decrease in admissions in April and only Ameristar Casino-St. Charles posted an increase in revenue, according to figures from the Missouri Gaming Commission and Illinois Gaming Board. Revenue remained relatively flat at Ameristar, but did slightly increase to more than $25.0 million during April compared to $24.9 million in April 2007. The casino had a one percent decrease in admissions from 743,243 in April 2007 to 739,088 this April. The Casino Queen in East St. Louis was the only casino in the St. Louis area to post an increase in admissions. The casino reported 186,142 admissions in April, up 17 percent from last April's 159,041 admissions. The Casino Queen was also the only casino in Illinois to post a year-over-year increase in admissions. However, the casino's revenue did fall more than 5 percent to $13.5 million, compared to $14.2 million in April 2007. Admissions at Pinnacle Entertainment's Lumiere Place, which opened Dec. 19, fell more than 8 percent from March to 510,304 in April. Revenue in April was $13.1 million, a 6.9 percent drop-off from March's revenue of $14.0 million. President Casino's admissions and revenue took a significant hit in April partially due to the casino temporarily closing for several days earlier in the month due to rising flood waters on the Mississippi River. Admissions fell 42 percent from last April's 219,853 to last month's 126,662. Revenue for the month was $2.6 million, down 51 percent from revenue of $5.2 million in April 2007. Admissions for Harrah's St. Louis Casino and Hotel in Maryland Heights fell 19 percent last month to 626,463 from 769,918 in April 2007. The casino's April revenue declined 16 percent to $23.0 million from $27.2 million in the same month last year. The Alton Belle Casino in Alton, Ill., reported a 27 percent drop in revenue to $8.0 million last month from $10.9 million April 2007. Admissions fell almost 17 percent from 121,726 to 101,099. matthewallen@bizjo urnals.com All contents of this site © American City Business Journals Inc. All rights reserved. (May 12, 2008 | post #1)
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