>ATLANTIC CITY — The company that spectacularly imploded the Sands Casino Hotel is pulling out of Atlantic City after its plans for a $1.5 billion gaming resort proved to be a dud.
Dealing another blow to the struggling gaming market, Pinnacle Entertainment Inc. announced Friday it has abandoned its casino project and will sell its Boardwalk property.
“We put the property up for sale in Atlantic City,” John Giovenco, Pinnacle’s interim chief executive officer, told gaming analysts during a conference call. “We hope to sell as soon as a reasonable bid comes in. I can’t tell you when. Hopefully, sooner than later.”