At the risk of souding awful, I would assume you have never been to Atlantic City before...
I would never do a Priceline in AC! The reason is, well, the area is quite urban, anywhere off the boardwalk, and isn't exactly safe unless you are from the area.
Actually, there are dicier sections of the boardwalk as well, so you could wind up in a sleazier part of town and be afraid to go out.
What you see in Atlantic City (casinos, nice area) is the casinos only... they only made that little area nice, and the rest, well... I would worry for anyone out of town!
I even asked my husband, and he said "NO WAY !", but he did suggest trying Expedia or Travelocity or even Hotelkingdom for a better rate..
The fear of the unknown is pretty risky, especially in Atlantic City...
Good luck, and sorry to have put a damper on that plan.
I am as thrifty as it comes (ask anyone here!), but even I would spend the money for the higher end room!