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Hotel Woes

Another AC Hotel-Casino Put On Hold

November 21, 2008 at 2:57 PM | 0 Comments

Another hotel-casino development in Atlantic City bites the dust. The $1 billion "boutique" casino, hotel and resort due to be built on the Southern tip of the AC Boardwalk by Curtis Bashaw was supposed to bring style and class back to Atlantic City, much like Bashaw's other AC property The Chelsea.

Unlike The Chelsea, this project was supposed to be huuuge. It was rumored to have two hotel towers with a total of 2,000 hotel rooms, a 6-story condo tower, extensive banquet facilities, retail, a theater and of course, a casino floor which the Chelsea does not have.

Unfortunately, it joins the other huge developments in Atlantic City by MGM Mirage & Pinnacle Gaming which are caught up in this whole credit/financing debacle and won't see any light at the end of the tunnel until 2009 or 2010.

Not all faith in Atlantic City is lost though. Bashaw was quoted in the Philadelphia Inquirer saying that if the planned Revel Casino Resort opens on time in 2010, it could push other developers to get crackin' again.

"If they get finished with Revel, it's going to be a second Borgata and make the others anxious to get going."

Do we hear Journey's "Don't Stop Believing" playing in the background?

[Image Credit: Observer.com]