Gaming News

Sands acquisition inches forward

NEW JERSEY – As reported by the New Jersey Courier Post: "Kim Townsend is glad to be back home. A senior vice president of marketing for Las Vegas-based Pinnacle Entertainment, Townsend is scouting for houses in Egg Harbor Township near her sister's place. She is one of four staffers approved by the Casino Control Commission Wednesday to act as liaison with the Sands as the acquisition of the 26-year-old casino hotel moves forward.

"In addition, the commission approvals establish procedures to allow Pinnacle to take over and transport slot machines, gaming tables and other equipment, and to pay off Sands gaming markers to customers and control Sands casino records. Pinnacle will take over the Sands November 17, less than a week after the casino hotel closes its doors for good.

"…Pinnacle, which lost out in its bid to acquire Aztar Corp earlier this year, will demolish the existing Sands to pave the way for a $1.5 billion resort which could break ground by the end of 2008, with an opening date, early in 2011…"

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