Hall of Fame Resort & Entertainment Company Hires Rob Borm as EVP of Gaming

Rhea-AI Summary

Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV, HOFVW) has appointed experienced gaming executive Rob Borm to lead its gaming division, reflecting the company's commitment to capitalizing on the growing gaming market, particularly in Ohio following the legalization of sports betting. Borm, with over 21 years of experience, will oversee the strategic direction of the Hall of Fantasy League and enhance partnerships with Rush Street Interactive and Genesis Global Ltd. His leadership aims to drive shareholder value and expand revenue opportunities within the gaming sector.

Positive

• Rob Borm's appointment is expected to enhance business strategy in the gaming division.
• Borm's prior success in increasing sponsorship revenue by 200% could translate into significant growth for HOFV.

Negative

• Potential gaps in continuity during the transition to new leadership.
• Challenges in executing the ambitious growth strategy amid market competition.

Experienced gaming executive will oversee HOFV’s rapidly growing gaming division

CANTON, Ohio--(BUSINESS WIRE)-- Hall of Fame Resort & Entertainment Company (“HOFV” or the “Company”) (NASDAQ: HOFV, HOFVW), the only resort, entertainment and media company centered around the power of professional football, today announced that it has hired experienced gaming executive Rob Borm to lead its burgeoning gaming vertical. Given the exponential growth of the gaming sector over the past few years including the legalization of sports betting in Ohio, coupled with the substantial progress HOFV has made advancing its gaming division with the success of the Hall of Fantasy League (HOFL) and by signing partnerships with Rush Street Interactive and Genesis Global Ltd., the company determined a highly accomplished leader like Brom was necessary to further expand the vertical and continue to capitalize on the significant revenue opportunities within the gaming sector.

In his position, Borm will be responsible for managing all aspects of HOFV’s gaming division, including overseeing the strategic direction of the HOFL, the first digital platform that enables fantasy football fans throughout the U.S. to communally engage and financially stake the fantasy teams of a premier nationwide league. He will also work closely with HOFV’s blue-chip gaming partners in Rush Street, Genesis and others to streamline the development of projects and oversee the Company’s gaming initiatives. Furthermore, Borm will also be tasked with expanding HOFV’s network of gaming partners and identifying opportunities where its gaming division can support the Company’s other business verticals.

“We are very pleased to be in a position to hire a highly talented and experienced executive in Rob to oversee our gaming division,” said Michael Crawford, President and CEO of HOFV. “Given all that we have accomplished on the gaming front in the last year, we needed someone who knows how to capitalize on the significant number of growth opportunities that exist in this sector and generate maximum exposure for our Company and our partners with customers and fans alike. We’re excited to have him join us and help us in our mission to drive shareholder value and create the preeminent organization at the intersection of sports, gaming and entertainment.”

Borm, who possesses more than 21 years of experience in video games, esports and brand sponsorship sales, joins HOFV from LeagueSpot, where he served as Head of Partnerships - Esports & Gaming. In this position, he increased sponsorship revenue by 200 percent and identified multiple new revenue streams. Prior to LeagueSpot, he served as VP Business Development for the All-American High School Esports League. Borm also spent many years in an executive position at Game Informer, the 3^rd largest consumer publication in U.S. and largest digital magazine globally, where he exponentially grew media sales.

Borm stated, “I’ve watched from afar as HOFV has impressively built out its gaming vertical by signing partnerships with some of the most respected names in the industry and launching a highly innovative fantasy football model. As someone who is experienced in this sector, I know firsthand how tough it is to get the attention of operators like Rush Street and Genesis, and I applaud the team for their success in making these partnerships happen. Now that I’m on board, I look forward to overseeing all that we have in the works and continuing to grow this vertical ever further. HOFV is a truly unique company, and I am excited to leverage my skillset to benefit all of our stakeholders.”

Borm obtained a Bachelor of Arts from the University of Minnesota and is also the founder and executive producer of POV Films, which produced more than 50 film projects for music recording artist Prince.

About Hall of Fame Resort & Entertainment Company

Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV, HOFVW) is a resort and entertainment company leveraging the power and popularity of professional football and its legendary players in partnership with the Pro Football Hall of Fame. Headquartered in Canton, Ohio, the Hall of Fame Resort & Entertainment Company is the owner of the Hall of Fame Village powered by Johnson Controls, a multi-use sports, entertainment and media destination centered around the Pro Football Hall of Fame's campus. Additional information on the Company can be found at www.HOFREco.com.

About Hall of Fame Village powered by Johnson Controls

Hall of Fame Village powered by Johnson Controls is a multi-use sports, entertainment and media destination centered around the Pro Football Hall of Fame's campus in Canton, Ohio. Owned by the Hall of Fame Resort and Entertainment Company (NASDAQ: HOFV, HOFVW), the Village currently has over $250 million worth of assets under management and is one of the largest ongoing construction projects in Ohio. Phase I of the project entailed the construction of the Tom Benson Hall of Fame Stadium, a world-class 20,000 seat, sports and entertainment stadium, and the National Youth Football and Sports Complex. Phase II, currently under construction, will add the Constellation Center for Excellence, the Center for Performance, a Fan Engagement Zone, a Hall of Fame indoor waterpark and a Hilton Tapestry Hotel. Phase III is currently in planning stages. For more information, visit www.HOFVillage.com.

Forward-Looking Statements

Certain statements made herein are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words and phrases such as “opportunity,” “future,” “will,” “goal,” and “look forward” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are not guarantees of future performance, conditions or results, and involve a number of known and unknown risks, uncertainties, assumptions and other important factors, many of which are outside the Company’s control, that could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors, among others, that may affect actual results or outcomes include the Company’s ability to manage growth; the Company’s ability to execute its business plan and meet its projections, including refinancing its existing term loan and obtaining financing to construct planned facilities; potential litigation involving the Company; changes in applicable laws or regulations; general economic and market conditions impacting demand for the Company’s products and services, and in particular economic and market conditions in the resort and entertainment industry; the potential adverse effects of the ongoing global coronavirus (COVID-19) pandemic on capital markets, general economic conditions, unemployment and the Company’s liquidity, operations and personnel, the inability to maintain the listing of the Company’s shares on Nasdaq, as well as those risks and uncertainties discussed from time to time in our reports and other public filings with the SEC. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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Media/Investor Contacts:

For Hall of Fame Resort & Entertainment Company

Media Inquiries: public.relations@hofreco.com

Investor Inquiries: investor.relations@hofreco.com

Source: Hall of Fame Resort & Entertainment Company

FAQ

Who is Rob Borm and what is his role at HOFV?

Rob Borm is an experienced gaming executive recently appointed to lead Hall of Fame Resort & Entertainment Company's gaming division.

What is HOFV doing to expand its gaming division?

HOFV is expanding its gaming division through strategic leadership under Rob Borm and continued partnerships with major gaming companies.

How does Rob Borm's experience benefit HOFV?

With over 21 years in gaming and esports, Borm's background includes significant revenue growth, which may benefit HOFV's gaming initiatives.

What are the prospects for HOFV's gaming division after Borm's appointment?

Borm's leadership is expected to drive growth and further develop HOFV's gaming platform, leveraging new opportunities in the market.