PHH advises ATG Entertainment on New Musical Theater in Vienna

15. January 2025

Launch of Austria’s Largest Privately Financed Theater Project

City Councilor Peter Hanke, Vienna Chamber of Commerce President Walter Ruck, and Dr. Kurt Gollowitzer (CEO of Wien Holding) joined Joachim Hilke (CEO of ATG Entertainment Europe) to unveil the new musical venue “Theater im Prater.” Legal counsel for ATG Entertainment on this forward-looking project was provided by PHH Rechtsanwält:innen.

Set to be the largest privately financed theater project in Austria in the past 100 years, the “Theater im Prater” will feature 1,800 seats and become one of the country’s most prominent performance venues, setting new standards in international theater architecture. The construction costs for the “Theater im Prater,” slated to open by the end of 2027, amount to nearly €100 million, fully funded by ATG Entertainment. As a strategic partner for the project, ATG Entertainment secured the City of Vienna, represented by Wien Holding. A market analysis conducted by ICG Integrated Consulting Group and the Institute for Administrative Management highlights the project’s potential as a major economic driver for Vienna, estimating 1,400 full-time jobs, up to 500,000 additional musical theater visitors annually, and an annual value creation of €157 million.

For the structuring and realization of the “Theater im Prater” project, ATG Entertainment relied on PHH’s legal expertise across corporate law, real estate law, public law, and the contractual design of the strategic alliance. “Advising on complex infrastructure projects is one of our core competencies. We are thrilled to legally support the strategic alliance between ATG Entertainment and Wien Holding for this significant social infrastructure project and look forward to the next steps in this exciting and unique venture,” said Wolfram Huber, who leads the project. The PHH team also includes Julia Fritz and Hafize Stöhr (real estate law), Matthias Fucik and Wolfgang Guggenberger (corporate/M&A), Nicolaus Mels-Colloredo (employment law), and Stefanie Werinos and Theresa Karall (public law and procurement law).

Joachim Hilke, CEO of ATG Entertainment Europe, emphasized: “The expertise, diligence, and dedication of the PHH transaction team were instrumental in enabling us to kick off this promising alliance. Many thanks to PHH for the outstanding collaboration and tireless commitment.”