Casino News

New AC casino plans scrapped

2009-02-06 12:21:29

Plans to build a new casino in Atlantic City have fallen through due to the state of the economy.

Penn National Gaming announced this week that it will not be moving ahead with its option to build a 12th casino in the popular gambling resort, with chief executive Peter M Carlino claiming that the current financial situation is to blame.

The casino was to be built some distance away from the other gaming venues in AC on Route 30 on a 23-acre site.

Penn's decision will come as another blow to AC's gaming industry, which was in decline prior to the economic downturn and has been hit particularly hard in recent months.

Earlier this year, MGM Mirage revealed that it had put plans to build a vast gambling complex next to its part-owned Borgata Hotel Casino & Spa on hold indefinitely.

AC is the second biggest casino destination in the US behind Las Vegas and the third richest in the world.