Las Vegas-based Pinnacle Entertainment sells Atlantic City land parcel for $30.6 million
Pinnacle Entertainment said Thursday it sold a vacant Atlantic City land parcel for $30.6 million.
The Las Vegas-based company did not name a buyer, a filing with the Securities and Exchange Commission shows.
Pinnacle had been trying to sell the 19-acre site along the Boardwalk since 2010.
The company bought the former Sands resort in 2006 for $270 million and imploded the property a year later. Pinnacle planned to build a $2 billion hotel-casino on the site but scrapped those plans when the economy crashed.
Pinnacle shares fell 17 cents, or 1.19 percent, Thursday to close at $14.10 on the New York Stock Exchange.
Contact reporter Howard Stutz at hstutz@reviewjournal.com or 702-477-3871. Follow @howardstutz on Twitter.
