40 years ago today, The Sands opened in Atlantic City
Friday 14 de August 2020 / 08:14
2 minutos de lectura
(Atlantic City).- 40 years ago today — August 13, 1980 — the Sands Hotel and Casino opened its doors in Atlantic City. The actual “Sands” name didn’t grace the skyline of Atlantic City until 1981, but we’re using that name since that is what most people know that property as.
Anyway, The Brighton Hotel & Casino opened on August 3rd, 1980, as the first brand new building that was built as a casino in Atlantic City. Up until that point, other casinos in town were hotels that were transformed into casinos.
Within months of their doors opening, The Brighton faced some big financial problems.
In early 1981, Inns of the Americas gave The Brighton's owners $10 million in financing. Shortly thereafter, that group bought a 60 percent interest in The Brighton. Since Inns of the Americas had just purchased the Sands in Las Vegas, they decided to change the name of The Brighton to Sands Hotel and Casino.
The Sands, as one of the smaller casinos in town, was able to hold its own for a number of years, but as many people will tell you, it takes a lot of money to stay neck-and-neck with other (bigger) casinos in Atlantic City.
In 1998, the Sands filed for bankruptcy protection. In 2000, in an attempt to compete, the Sands took over the Madison Hotel under a lease agreement which allowed it to make its gaming floor bigger.
Fast forward to the end of the summer of 2006 when Pinnacle Entertainment agreed to buy the Sands and an adjacent property for $250 million. Their plans were to demolish the Sands so a new, larger casino could be built.
The Sands closed for good on November 11, 2006.
Categoría:Casino
Tags: Sin tags
País: United States
Event
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