ATLANTIC CITY — Spectra will continue to perform management services and food and beverage services for the Atlantic City Convention Center and Jim Whelan Boardwalk Hall.
The Casino Reinvestment Development Authority approved new contracts with the company during a recent meeting.
Spectra is the hospitality arm of Comcast Spectacor, based in Philadelphia.
Their bids came in substantially better than competing bids, said CRDA Executive Director Matt Doherty.
Doherty said the company will be paid a base management fee of $175,000 to run the two facilities.
Spectra will be paid a flat management fee of $60,000 to handle food and beverage for the two facilities, and will return any profits to the CRDA after accounting for food purchase, labor, and the management fee, said Doherty.
In 2018, the company’s gross revenues for food and beverage were approximately $5.3 million, and costs were $2.6 million, for a gross profit returned to CRDA of about $2.7 million, said Doherty.
He said the funds are needed to help pay for the substantial cost of maintaining the two buildings.
Atlantic City resident Charles Goodman asked at the Jan. 22 meeting if the CRDA requires a certain percentage of the workers hired by Spectra to be residents of Atlantic City or people of color.
John Page, president of Spectra’s content, arena and stadiums, said the company is concerned about inclusion and committed to hiring locally. But neither he nor anyone from CRDA said there were hiring mandates.