Pinnacle's Beach Themed Atlantic City Casino Still On Hold
Pinnacle Entertainment Chairman Dan Lee proved to be quite chatty last week, breaking some of the ice about what might be in store for Pinnacle Atlantic City when the credit market log jam subsides.
As a practical matter, in today's capital markets, we canít finance this thing anyway. I donít think anybody can. We're kind of going into a holding pattern.
Assuming PAC gets built - which Lee's line is 50/50 - construction won't begin until 2010 at the earliest.
So what exactly will PAC be? According Pinnacle spokesperson Pauline Yoshihashi it will be a "beach house" themed.
Dave Schwartz hits the nail on the head in his analysis of the beach theme on DieIsCast.com.
Thereís a big potential for "beach house" to turn out badly, though. I'm thinking suites that look like weekly-rental houses that pack in 20 college kids, with cigarette burns in the carpet and red cups with warm beer littered throughout the place. Couches with sand caked into them, that sort of thing. The concept itself doesn't scream "elegance," does it? Are the employees going to be required to wear flip flops? Will the security podium look like a lifeguard stand? How far are they going to go with this?
Dealers wearing speedos? Pit bosses with white sunscreen noses? A signature drink called the "floater" which is built from Grey Goose vodka and bite sized Baby Ruths?
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