From the AP:
Sands Casino to Close After 26 Years
Willie Samuels walked away from the Sands Hotel & Casino for the last time with the satisfaction that he was a winner, even if it was only $8. Sands is closing at 6 a.m. Saturday after 26 years. In most worlds, that’s not enough time to become a relic. But in Atlantic City casino history — neatly divided into a pre-Borgata period and its sexier modern era — it’s ancient.
Mogul Carl Icahn, who bought the Sands six years ago, sold it in September to Pinnacle Entertainment Inc., which plans to raze the casino and hotel tower and rebuild a bigger, more luxurious casino.
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Morgan Stanley is planning a big new casino in the South Inlet area, MGM wants to build next to the Borgata, another group of investors is planning a new casino next to the Atlantic City Hilton. And casino giants Donald Trump and Steve Wynn are reportedly working on a deal to replace the Trump Plaza with a new casino so large that it might take over Boardwalk Hall.
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“We’re going to miss the Sands,” Joseph Grinalbi said. “Unless we win at the Claridge.”
Darn – I was just in AC last weekend. I wish I would have realized it was closing so soon – it would have been fun to play there one last time.
Any thoughts on property values in AC over the next 10 years if this upscale movement continues in AC? Sure, now by all accounts it’s a dump…but could it be the next LV?