Pinnacle Atlantic City was a holding company for a planned casino resort which was to be located on the site of the former

Sands Atlantic City Sands Atlantic City was a casino and hotel that operated from August 13, 1980 until November 11, 2006 in Atlantic City, New Jersey. It was formerly known as the Brighton Hotel & Casino. It consisted of a 21-story hotel tower with 532 rooms and a ...

. The property was purchased from investor

Carl Icahn Carl Celian Icahn (; born February 16, 1936) is an American financier. He is the founder and controlling shareholder of Icahn Enterprises, a public company and diversified conglomerate holding company based in Sunny Isles Beach. Icahn takes la ...

. After the property was bought, Pinnacle gave 60 days' notice to employees of the casino. After the closure of the Sands, Pinnacle sold the hotel supplies at a liquidation sale and destroyed more than $61 million of table chips. When Pinnacle removed the Sands' slot machines to other Pinnacle properties, a total of $17,193.34 was found, some of which went to taxes and to fund the dismantling of the

people mover A people mover or automated people mover (APM) is a type of small scale automated guideway transit system. The term is generally used only to describe systems serving relatively small areas such as airports, downtown districts or theme parks. ...

that ran from the Boardwalk to Sands Atlantic City, along Brighton Park. The Pinnacle Atlantic City was slated to open in late 2011 or early 2012. However, on March 6, 2009, Pinnacle's Chairman and chief executive officer Dan Lee announced that the project was suspended indefinitely and the company may seek to sell the property. On July 30, 2010, in an article in ''

The Press of Atlantic City ''The Press of Atlantic City'' is the fourth-largest daily newspaper in New Jersey. Originally based in Pleasantville, it is the primary newspaper for southeastern New Jersey and the Jersey Shore. The newspaper designated market runs from Ware ...

'', Pinnacle said that it would be selling its Atlantic City assets and abandoning its casino projects there. Pinnacle Entertainment has also considered building an additional casino on the Bader Field site, but no official announcements have been made. On March 1, 2013, Pinnacle disclosed in a filing with the SEC that it had entered a definitive agreement to sell its Atlantic City holdings to an undisclosed buyer for $30.6 million. The deal was expected to close by the end of March.

Present use

The site is now the home of a temporary public art park.

References

{{coord, 39.357396, -74.430956, display=title Casinos in Atlantic City, New Jersey Hotels in Atlantic City, New Jersey Unbuilt buildings and structures in the United States Unbuilt casinos