Venable partner Bill Hall was quoted in a June 13, 2012 Washington Post article on legislation before the Washington, DC city council that would allow Monumental Sports and Entertainment, owner of the Verizon Center, to erect as many as nine animated digital billboards. Hall and Venable partner Claude Bailey represent Monumental Sports and Entertainment.
Commenting on the benefits of allowing the signs, Hall said “the signs are expected to earn the company $5 million to $9 million a year and generate as much as $8 million in city tax revenue over five years.” Unlike most sports venues which were funded by local governments, the Verizon Center was built with private funds and must find ways of generating extra revenue to meet a $10 million yearly debt service.
Commenting on the benefits of allowing the signs, Hall said “the signs are expected to earn the company $5 million to $9 million a year and generate as much as $8 million in city tax revenue over five years.” Unlike most sports venues which were funded by local governments, the Verizon Center was built with private funds and must find ways of generating extra revenue to meet a $10 million yearly debt service.