The state Casino Reinvestment Development Authority—in an effort to diversify Atlantic City’s appeal—is s betting another million on concerts.
CRDA will pay concert promoter Live Nation $1 million to bring at least 12 major concerts to the resort’s Boardwalk Hall next year.
The agency will provide $500,000 in subsidies and an additional $500,000 to protect Live Nation from losses if any of the concerts are unprofitable.
The agreement calls for a minimum of 12 shows, but could reach 15 to 16 in total, officials said.
Live Nation is the world’s largest concert promoter and was the promoter of two major free beach concerts held in the city this summer. The concerts by country stars Blake Shelton and Lady Antebellum drew an estimated 60,000 fans each.
Live nation has promoted numerous concerts at Boardwalk Hall including Lady Gaga in June and Kiss and Def Leppard in August as well as Aerosmith in August.
The initial deal is for one year, but includes options for a second and third year.
Along with helping attract visitors to the resort, officials said they feel the concerts will help fill an entertainment void caused by closing casinos in the city. Four casino properties have closed this year in Atlantic City, but only one—the Revel casino—was a major player in bringing concerts to the resort.
The deal is designed to ensure one major concert a month in the city, officials said.
However, some CRDA board members expressed concern that the city will have trouble providing parking for the concerts, especially now that Trump Plaza—which is adjacent to Boardwalk Hall—and its parking garage have closed. Officials said that concertgoers could be directed to park at other casinos.
