I also noticed that the “Edit Venue” text input window will not let me break up the description of the venue into paragraph tags. I’m not sure why. I put them in and update and then switch back and forth between the visual and text and they disappear.
Are you adding the paragraph tags in text mode? If you do and then switch to visual mode they will be removed (that’s WP rather than EE doing that)
Just add your text on a next line in visual mode and it should be displayed in a new paragraph.