Pinnacle's AC casino plans on `indefinite hold'

ATLANTIC CITY, N.J. (AP) - November 6, 2008 In a news release Thursday morning, the Las Vegas-based casino developer cites the continuing tight credit market, which is making it nearly impossible to borrow money, as well as increasing competition in Pennsylvania and Maryland.

Maryland voters this week approved 15,000 slot machines in five locations, which will further eat into Atlantic City's customer base.

The company is also not happy that Atlantic City is soliciting plans from developers to build casinos on the former Bader Field airport site, further increasing competition within Atlantic City.

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