MAJOR CONCERT AGREEMENT APPROVED FOR ATLANTIC CITY

On Monday the Casino Reinvestment Development Authority approved a $1 million subsidy agreement with concert promoter Live Nation for at least a dozen major shows at Boardwalk Hall next year. The CRDA will give $500,000 in subsidies to the promoter and an additional half-million dollars to protect Live Nation from losses for poor attendance. The agreement does not give the names of any specific acts, but says there would be at least 12 big-name acts and as many as 16 booked for next year. The CRDA’s subsidy deal with Live Nation is set for one year, with an option for a second and third year.