Not so fast

After having some follow-up discussions, it seems that my recent post about Pinnacle Entertainment supposedly pulling the plug on it's A.C. project may have been premature.

Posted last Friday and titled "Everybody loses," it was a response to published reports that Dan Lee, CEO of Pinnacle Entertainment, pretty much announced the company's proposed $1.5 billion development on the old Sands site was dead and buried because of the ongoing economic meltdown that has drowned the gaming industry (and just about every other outside of bankruptcy law) in red ink.

But despite some pretty final-sounding words from Lee ("We live in an era where it's just not possible to build what we had anticipated in Atlantic City. Someday, hopefully it's a better world, or somebody shows up and offers us a better deal"), it turns out that nothing has really changed since Pinnacle announced it was suspending development of the property because of the tightening credit markets.

Which means that while construction is on indefinite hold, Pinnacle hasn't totally abandoned its plans, as has been widely perceived.