$2 billion, beach-themedcasino/hotel on the site of the demolished Sands Hotel. Now,the company has indeed put the project on the back burner, and mayeven sell the cleared property for the right price.

"The company's plans…are on indefinite hold due to credit marketconditions and an evolving competitive environment," reads astatement issued by the company. "including approval of a stateconstitutional amendment…permitting 15,000 slot machines in nearbyMaryland, the three additional casinos…in eastern Pennsylvania, andAtlantic City's recent request for proposalsfor one or more casinos to be built on [former municipal airport]Bader Field."

"We recognize that this is not an environment to go and 'dreambig'," Pinnacle chairman/CEO Daniel Lee told analysts during thecompany's Q3 earnings conference call. "We're going to sit inAtlantic City, and we could be sitting for a very long period oftime. If we have to put it off for years and years to make surethat what we're doing is bulletproof, then so be it."