While a construction date hasn't been set yet, analysts weregiven the news that more detailed plans are in the works, withdesigns currently being "tweaked," according to Dan Lee, chairmanof the Las Vegas-based Pinnacle. The sticking point right now,according to Lee, is the global credit mess.

"As a practical matter, in these current markets, we can'tfinance this thing today," Lee told analysts. "I don't think anyonecan, if they're trying to build a big project. We're in a bit of aholding pattern while we spend small amounts of money on legal feesand things like that as we move forward toward a project we canbuild when the capital markets recover."

Much of the boardwalk site for the proposed resort was onceoccupied by the Sands Hotel/Casino, which Pinnacle bought fromaffiliates of Carl Icahn for a reported $270 million in 2006. The600-room Sands was closed down for good a year later, and implodedthis past October. Initial plans called for the start ofconstruction this year, with completion by late 2011. But inFebruary, Pinnacle announced it was putting the project onhold, citing the credit markets. Construction now is unlikelyto start before 2010, Lee told analysts.