Boutique casino update

Three companies have expressed an interest in building a boutique-style casino in Atlantic City. The deadline to submit initial application was last week, but it’s just the first phase of the evaluation process for companies to secure one of the two available licenses. The big difference is that companies will not have to worry about forking up billions required to build something like the under-construction Revel. Instead of the 500 room requirement, companies will only need to build 200 rooms.
The one name that didn’t come as a surprise is the Florida-based Seminole Hard Rock Entertainment group which had made its plans public prior to last week’s deadline. The company has even taking the extra step to file the necessary permits required to build.
The one that caught me by surprise was Pinnacle Entertainment Inc., who was scheduled to build a multi-billion-dollar resort on the site of the old Sands. The plans were scrapped when the economy tanked. The company has since put the valuable piece of land up for sale, but has filled up the application to ‘keep its options open.”
The third company, California Avenue Ventures of Northfield, is one I am unfamiliar with.
The companies now have until Aug. 19 to complete a more detailed application with the Casino Control Commission scheduled to make its decision this fall which of the two projects will be granted the licenses.
Stay tuned …

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