Get ready to Meet AC. Resorts Casino Hotel in Atlantic City will debut their new conference center on Wed AUG 26, in their push to attract the corporate meetings market. The $5 million dollar space features 15,000 square feet of meeting magic. The first meeting is scheduled for this September.
Also coming up in September, the all new Harrahs Waterfront Conference Center will open. This sizable 100,000-square-foot facility features customizable layouts using a cool, new partitioning system called ‘Airwall’.
Where did the money come from to help build these 2 new projects? Answer: The IAT, Investment Alternative Tax. Casinos cough up a percentage of their revenue each month and hand it over to the CRDA; Casino Reinvestment Development Authority.
City officials love this type of non-gaming revenue activity. ‘Anything that diversify’s the local economy is a good thing. Having casinos control our destiny is a bad thing’ said one official who wished to remain anonymous.
NOTE: CRDA formed the nonprofit ‘Meet AC’ in 2014 to grow revenue from the fast growing meetings, conventions & conference sector.