ATLANTIC CITY (CelebrityAccess) — The Borgata casino has announced that they plan to open both a new an outdoor concert hall and a new nightclub in summer and fall respectively.
Borgata received preliminary determination of eligibility today from the Casino Reinvestment Development Authority (CRDA) to utilize approximately $14 million of its current and future funds on deposit with the CRDA generated from its Investment Alternative Tax payments. This investment will partially fund the development and construction of the two new venues that will further bolster Atlantic City's market leading entertainment and resort destination.
Live Nation's Philadelphia office has been named as the exclusive booking agent for both venues.
"We are looking forward to being a part of this new outdoor venue coming to Borgata," said Geoff Gordon, Live Nation Philadelphia Regional President. "Borgata Festival Park will be another avenue to bring top-tier entertainment to Atlantic City and highlight all the city has to offer."
The Casino Reinvestment Development Authority was origianlly developed in 1976 as an alternative form of taxes for the casinos as a part of the deal to legalize gaming in Atlantic City. After a revision of the law in 1984, licensees are required to pay 2.4% of their gross revenue in taxes, or, alternatively, invest 1.25% of its gaming revenues through the CRDA in community and economic development in Atlantic City.
The amphitheatre, dubbed Borgata Festival Park will hold 5,000 standing room-only fans and will include an outdoor bar. It is expected to open in June with a multi-artist debut festival.
Full details about the yet-to-be-named nightclub were not revealed, but a statement from the Borgata but it is expected to open by the end of 2015.
"We are thrilled with the opportunity to enhance and grow our already tremendous entertainment offerings through funding by the CRDA and a wonderful partnership with (concert promoter) Live Nation," said casino president Tom Balance. – Staff Writers