Elaine Zamansky, 609-449-7166, email@example.com
New Jersey Taxpayers Big Winners in Atlantic City’s Boardwalk Hall and Convention Center
(Atlantic City, NJ – December 17, 2015) – Spectra by Comcast Spectacor, which provides Venue Management and Food Services & Hospitality to Boardwalk Hall and the Atlantic City Convention Center on behalf of the Casino Reinvestment Development Authority (CRDA), today announced figures that show the Atlantic City market provides a significant economic benefit to New Jersey taxpayers. Sales income and corresponding state and luxury taxes generated by patrons attending events hosted at both facilities have positively affected the revenues generated over the course of the last three years.
The two facilities combined have generated nearly $235 million from January 1, 2013 through October 2015 in direct sales income and a combination of state and luxury taxes. This number accounts for a projected attendance of 1,836,536 people over the three-year period. Using the industry average of $125 assumed in-market spending per attendee, the two facilities have generated $74,590,250 in direct market sales income. Further, the Atlantic City Convention Center has generated $1,363,485 in state and luxury taxes while Boardwalk Hall has generated $4,027,899 in state and luxury taxes.
Documentation has been shown to support the industry average through direct customer feedback. After every event at Boardwalk Hall, patrons who purchased tickets are asked to complete a survey regarding their experience in the venue and in Atlantic City. Of those patrons, 67.6% ate at an Atlantic City restaurant when they visited for an event, 44.7% gambled at a casino during their visit, and aside from money spent on tickets, 65.7% of patrons spent $100 or more at local businesses during their trip to Atlantic City.
According to CRDA Board Chairman Robert E. Mulcahy III, “Events at the Atlantic City Convention Center and Boardwalk Hall are proven to bring business to hotels, restaurants and other entertainment venues throughout the city. They are an integral part of CRDA’s mission to attract visitors by bringing non-gaming events to the Atlantic City Tourism District.”
“It’s revealing to consider the positive economic impact that the events at the Atlantic City Convention Center and Historic Boardwalk Hall continue to bring to Atlantic County and to the State of New Jersey,” said Spectra’s Fran Rodowicz, general manager of both venues. “These facilities bring hundreds of thousands of people to Atlantic City on a consistent basis and they are critical to the success of the beach resort.”
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The only agency of its kind nationwide, the CRDA has used Atlantic City casino reinvestments as a catalyst for meaningful, positive improvement in the lives of New Jersey residents, investing nearly $2 billion in more than 400 projects statewide since 1984. Under the 2011 Tourism District Act, CRDA’s mission evolved from statewide projects to becoming the state’s key economic development agency for Atlantic City. CRDA responsibilities expanded to include land use regulation, clean and safe initiatives, tourism marketing, ownership and oversight of the Atlantic City Convention Center and Boardwalk Hall, and partnership with the Atlantic City Alliance to brand and market Atlantic City. The former ACCVA, now a division of CRDA, is the first destination marketing organization in New Jersey to achieve prestigious Destination Marketing Accreditation by the Destination Marketing Association International.
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Spectra by Comcast Spectacor is the expert in hosting and entertainment, partnering with over 300 clients at 400 global properties to create memorable experiences for millions of visitors every year. Spectra’s expertise is embodied within three divisions: Venue Management (formerly Global Spectrum), Food Services & Hospitality (formerly Ovations Food Services) and Ticketing & Fan Engagement (formerly Paciolan). Learn more at SpectraExperiences.com.
Comcast Spectacor is part of Comcast Corporation, a Fortune 50 media and technology company that operates Comcast Cable and NBCUniversal. Headquartered in Philadelphia, Pa., In addition to Spectra, Comcast Spectacor owns and operates the National Hockey League’s Philadelphia Flyers and the Wells Fargo Center venue. Visit us at ComcastSpectacor.com, PhiladelphiaFlyers.com and WellsFargoCenterPhilly.com for more information.