ATLANTIC CITY, NJ-Construction has commenced on Harrah's Resort's $125.8-million conference center without much fanfare or even the turning of dirt with ceremonial gold shovels.
Harrah's parent, Caesars Entertainment Corp., announced on Wednesday that work is now underway on the 250,000-square-foot conference center. When completed, the facility is expected to host corporate meetings that will complement the conventions and tradeshows at the Atlantic City Convention Center, the company states. The center will feature two 50,000-square-foot ballrooms. According to The Press of Atlantic City, the conference center project is receiving $45 million in funding from the state Casino Reinvestment Development Authority. Caesars said it plans to contribute more than $80 million of equity to complete the center.
New Jersey Lt. Gov. Kim Guadagno, said in a statement, “This is an important step toward the revitalization of Atlantic City, and will help create jobs and attract more visitors to New Jersey.”
Gary Loveman, chairman and CEO of Caesars Entertainment, states, “The development of this facility is a significant milestone in our efforts to collaborate with the state to reinvigorate Atlantic City and attract new segments of visitation to the market.” The company did not divulge an expected completion date for the project. See story in the Press of Atlantic City.
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