You can create a venue either on Event page using Create New Venue link or in Venues menu using Add Venue button.
On Venue page it is required to fill in the following fields:
Venue Name - will be displayed on Event Page under Event name.
Venue Address (Street Address, City, ZIP, State and Country).
If you would like to create Seating Chart Venue, you also need to check Reserved Seating option (see Create Seating Chart section).
After you filled in the fields on Venue Page, click Save button to create your Venue.