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by Lisa Grimaldi | February 10, 2010

Pinnacle Entertainment announced it will sell its 19-acre parcel of land in Atlantic City, ending a plan to develop a $1.5 billion casino resort. The company's reasons for dropping the project, according to a statement released last Friday, included the city's prolonged gaming slump, competition from neighboring states and the uncertain economy. The land is the site of the former Sands Casino, which Pinnacle demolished in 2007.