From 1938 to 1951, Billy Rose’s Diamond Horseshoe operated in the basement of the Paramount. Known for its vaudeville-style revues, the club featured the day’s top entertainers and even inspired a 1940s movie musical. Seventy-five years after the club first opened and following a $20 million renovation, the Diamond Horseshoe is a prime midtown nightlife destination and venue for environmental theatrical experiences, events, and other unique programming overseen by Variety Worldwide LLC and LDV Hospitality. The six-thousand square foot ballroom features two bars, a brand new kitchen, banquet style tables, and various private rooms.