It’s a beautiful Sunday and a fun day in sports with the British Open in the morning, baseball all day and the Women’s World Cup final in the middle.  There’s also celebrity golf on NBC somewhere later in the day.  I love baseball and days like this keep sports in the summer fun and different.  Being out west, I’ve found that this makes for a fun morning.  Shortly, I’ll be prepping for the week ahead, but for now let’s look at the week behind.

AC2LV

• Craft Beer Nirvana at M Resort
• BOOM! There Goes The Largest Billboard In Vegas
• Other Losers from The NFL & NBA Lockouts
• Who Is Amber Rose?
• Small Casino or Another Pile of Dirt?

Free Picks and Fun

• Odds To Win The 140th Open Championship
• James Harrison: Confessions of an NFL Hitman
• Robbie Cano Wins HR Derby Dontcha Know
• Yao Ming Retires
• Gift Taxes Suck
• Over 30 Free Picks (even with the All Star Break!)

Vegas Chatter

• Things You Might Not Know About the WSOP Main Event
• Station Casinos Playing The Role of Cantor Gaming
• What Are The Newest Slots in Town?
  
• Trop and Cosmo Will Pay You Back
• Will A New How-To Book For Craps Have You On A Roll?

Don Mattingly Hitman

The deadline for proposals to open a small casino in Atlantic City are just over a month away and there are three submissions so far, Hard Rock Cafe group, Pinnacle Entertainment and a group of businessmen associated with Northfield developer Max Gurwicz and Sons.  The Hard Rock Casino was the first to throw their name in the ring for a casino.  The most surprising is Pinnacle Entertainment, who still owns the pile of dirt next to Bally’s.

Pinnacle Entertainment Inc. filed through its subsidiary ACE Gaming, but did so “purely at the point of keeping our options open,” company spokeswoman Kerry Andersen said.

It’s interesting that the Atlantic City government would allow Pinnacle to use them as a way to get their name out while they can’t find a buyer for the land they’ve left barren after imploding the Sands.  The government is probably using them as well to promote the interest in this idea, that may not have legs.

Considering Golden Nugget purchased and renovated Trump Marina for less money than building one of these new mini-casino’s it’s hard to imagine anyone would find value in this.  Especially as the former Hilton and Trump Plaza may be hitting the market and be purchased at similar prices.

Check Dr. David Schwartz’s site for more info on how the small casinos can’t work in Atlantic City.  He’s better with the numbers than I am.

Hard Rock International is ready to build a brand new mini-casino on the boardwalk in Atlantic City.

“The 200-room hotel bill will be a plus . . . if these new operators develop something that is unique and that allows the city to either recapture trips that are currently going to the convenience markets in Pennsylvania, Delaware, and New York,” said Cory H. Morowitz of Morowitz Gaming Advisors L.L.C. in Galloway Township, “or if these new properties grow the market by drawing visitors who are currently rejecting Atlantic City.”

But, is this a good thing?

He added, “If it’s just gaming and room capacity done better than existing properties, we might see the demise of another casino and little market growth.”

Supply and demand lead me to believe this addition will just about guarantee the loss of an older casino.  I’m torn, because I love new casinos (and things in general).  At the same time I have an appreciation for history and I don’t want to see people lose jobs.

My gut says this will be good for the local economy in the short term, but not good in the long term.  What does this mean for the unfinished Revel casino?  What about the pile of dirt next to Bally’s?

For an intelligent look at the NJ casino overhaul plan and, specifically, smaller casinos take a look at die is cast.

I’ll be just touching down in Las Vegas by the time this Week In Review goes up.  Here’s a look an eventful week.

• Harrah’s Las Vegas Diamond Clubs
• 9/6 Jacks or Better Alive in Atlantic City
• Second Quarter Casino Earnings
• Rapid Baccarat
• Repeat Order
• Plaza Becoming Union Plaza Again
• RUMOR: Rio Sold To Boyd Gaming (still no confirmation)
• Seven Stars Insider August Edition
• Wild Wild West New and Improved?
• Signs Signs Everywhere Signs
• Welcome Bet Revolution (still free $10 bet)
• Bally’s Doesn’t Want To Help
• Get Beer Faster In Las Vegas
• Wanna Buy Some Dirt In Atlantic City?
• Preview Bar and Burgers

The NFL season starts tonight!

Pinnacle is finally attempting to put their attempt at an Atlantic City property in their past.  Pinnacle put the land next to Bally’s up for sale last week.

The casino operator will formally put 19.5 acres of land on sale this week and it will likely sell at more than a 70% discount to its $340 million acquisition price, says Tom Kirschbraun, a broker at Jones Lang LaSalle who is representing Pinnacle. “The decision is to get this property off the books,” said Mr. Kirschbraun, anticipating that other casino operators, foreign investors and hedge funds would be attracted to the land.

This is a lot of land and a great location.  I’m not sure that I would bet on business in Atlantic City ever getting back to its peak 5 years ago, but if I can see an investor with a surplus of cash laying around purchasing the property as an investment.  It could be a high risk – high reward scenario.

I’m back home after about 10 days on the road.  In that time I lost a travel buddy for my trip to Las Vegas.  Along with a friend, I lost my comp rooms at Paris.  I still have rooms on hold at Palazzo and I’ll take a look at my offers when Planet Hollywood becomes part of Total Rewards, so I’m not really sweating it.

Even though I was away, I was still able to get a handful of blogs up.  Lots of east coast action, which is always fun.  Enjoy the week that was.

• Thoughts on Manny and Clottey
• The Race Is On! Sands Looks To Table Games July 1
• Pile of Dirt or Parking Lot
• Rapid Craps!
• Mini Casinos Coming To Atlantic City
• Hard Rock Casino Coming To Atlantic City?

What would you prefer instead of a casino – a pile of dirt or a parking lot?  A month ago Pinnacle announced there were not going to build a casino on the land where Sands used to stand.  There has been a pile of dirt sitting on the land for a couple of years now.  While they prepare to sale the property Pinnacle is considering cleaning up the property.

Pinnacle would pave the site to create a temporary parking lot serving the downtown business district and Boardwalk attractions. Plans also include decorative lighting, landscaping and new sidewalks to replace those torn out by Pinnacle on Indiana and Kentucky avenues and Dr. Martin Luther King Jr. Boulevard. The chain-link fence surrounding the property would also be removed, Mason said.

This won’t “clean up” Atlantic City, but anything that can be done to get this land to change hands quicker is another step towards a new casino.  Nothing will happen quickly, but this could only be a good thing.

Photo from Atlantic City Tripping

I was doing a little reading this morning and found something interesting at the bottom of another gloomy article about Atlantic City.  The beginning of the article touches on Pinnacle and MGM Mirage leaving Atlantic City.  Towards the end the article touches on a note that may have been forgotten that gives the market a glimmer of hope.

..at last spring’s East Coast gaming conference, N.J. State Sen. Jim Whelan (D., Atlantic) floated the idea of modifying state regulations requiring investors to build casinos with at least 500 hotel rooms.

I said glimmer…

Perhaps allowing smaller hotels will give investors reason to look at building in Atlantic City.  I’ve liked this idea for a while, as this was touched on last year.  I know that if the Chelsea Hotel had a small casino I would frequent it more than I do now.

This idea has been on the table for almost a year with no movement, so I don’t expect movement any time soon.  If a company really want to build, I can’t imagine the government saying no.  I have to assume that there aren’t any real prospects, no matter what the press reports.

I’m fully converted to my macbook and loving it.  I know I’m not using it to it’s fullest ability, but I’ve been enjoying it.  This week I decided to write up a review for the movie “Tyson” and enjoyed doing it.  I’ll do some more of these in the future when I watch movies that involve gambling, casinos and sports.  Now for the week that was, excluding the Super Bowl.

• 10 Suggestions for Atlantic City
• “Tyson” Review
• Sports Betting and New Jersey Getting Closer..
• Saints Make Vegas Casinos Winners
• Pinnacle Puts Atlantic City Land Up For Sale

Ever want to buy 19 acres of dirt?  It’s by the ocean…

Almost 4 years after buying and imploding Sands casino in Atlantic City, Pinnacle Entertainment gave up on their plans to build a new casino next to Bally’s.

Pinnacle owns 19 acres of oceanfront property between Indiana and Kentucky avenues in the heart of the Boardwalk. Pinnacle executives did not disclose how much the company will ask for the land. The company bought the Sands and its surrounding property for $270 million in 2006, but wrote down the land by $160 million in the fourth quarter of 2009 to reflect falling real estate values.

Pinnacle cited Atlantic City’s prolonged gaming slump, fierce competition from casinos in surrounding states and the fragile economy as reasons for killing a project that looked less and less likely after it was put on “indefinite hold” in late 2008.

“Atlantic City is no longer a good strategic fit for us, given the current economic outlook, the state of the financing markets and the major capital commitment that would be required,” Pinnacle spokeswoman Pauline Yoshihashi said. “It’s an attractive and well-located site, and may be a better strategic fit for another company.”

No surprises here, but it’s disappointing to look back at the potential of new casinos in Atlantic City just a few years ago and now Atlantic City seems as if it’s gambling economy is hanging by a thread.  Instead of looking back in sadness let’s watch the implosion of Sands and remember the potential of a few years ago.