Vivo Investment Partners, a New York-based firm, is prepared to make a $1 billion investment in the area around Atlantic City casinos to create an entertainment hub for all ages. The project would not include anything related to gambling. However, Vivo does include esports in its plan, and some New Jersey lawmakers have indicated a desire to make esports and esports betting a part of the state’s economy.
New Jersey is arguably the most forward-thinking state in the country when it comes to gambling. The market includes sports betting, and of course the Atlantic City retail industry.
sponsored a bill to try to make that a reality and position the state on the cutting edge. Vivo’s vision seems to mesh with that, even if it doesn’t mention betting explicitly. Under the proposed law, one of the perks of hosting esports events would be the option for the venue to retain the exclusive betting rights for itself or a chosen partner.
How Vivo’s proposal could impact esports
Vivo Investment Partners’ proposal includes many enhancements to the Atlantic City area, with one of them focusing on esports. The plan calls for a 30,000-square-foot esports center, which would be built in the Claridge Hotel‘s theater space.
People in New Jersey can bet on esports with the New Jersey Division of Gaming Enforcement‘s (DGE) permission. However, opportunities could expand with the filing of bill A2172, which is a copy of A4397 from 2024. It already has bipartisan .
The bill allows licensees to partner with up to two esports operators. In addition, for events that take place at an Atlantic City casino, the licensee could apply for exclusive rights for its partners and itself to offer wagering on those contests.
New Jersey Assembly member, Don Guardian, commented on the potential for esports in February:
“New Jersey and Atlantic City are primed to make the most of this market. World-class events can bring in revenue, gamers, spectators and gamblers and make us a hub for competitive video gaming.”
Perhaps Vivo Investment Partners took that in mind when developing plans for the new entertainment it wants to offer Atlantic City visitors.
What else does the proposal entail?
In addition to the potential growth in esports, Vivo Investment Partners included several other entertainment activities. Some of those include:
- Ski slope
- Ice skating rink
- 20,000-seat Minor League Baseball stadium
- 40,000-square-foot spa and bathhouse
- Outdoor courts such as pickleball, volleyball and basketball
- Go-karts
- Shops and restaurants
The proposal also includes 1,500 new apartment units and a new 800-room hotel. D-Wayne Prieto, CEO of Vivo Investment Partners, told the Press of Atlantic City:
“We want to normalize the seasonality of Atlantic City. What’s important here is that we are about to create a synergy that enables people to do things all year round. We are going to be creating programming 365 days a year.”
The project has from Atlantic City Mayor, Marty Small Sr., who loves the idea, saying, “if this comes through, this will be a very big deal.”
Vivo Investment Partners has signed a contract to buy the Claridge Hotel, but the deal has not closed yet.
