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Hall of Fame Resort & Entertainment Company Releases Details on Play-Action Plaza
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Neutral)
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Rhea-AI Summary
Hall of Fame Resort & Entertainment Company (HOFV) announced the upcoming Play-Action Plaza, a 3.5-acre entertainment space at Hall of Fame Village in Canton, Ohio. This plaza will include unique attractions like a giant Ferris Wheel and a Soaring Football Zipline, enhancing the fan experience. Construction is underway, with completion expected in late summer 2022. The amphitheater will host various events, promoting community engagement and showcasing local talent. HOFV aims to create a multi-use destination leveraging the popularity of professional football.
Positive
Introduction of Play-Action Plaza, a unique entertainment space.
Attractions like a giant Ferris Wheel and Soaring Football Zipline cater to diverse audiences.
Expected completion in late summer 2022, enhancing community engagement.
Amphitheater will host various events, expanding local entertainment options.
Negative
No specific financial metrics or projections provided regarding the project.
Construction uncertainties may affect timelines and costs.
3.5-acre open space to be located at the Hall of Fame Village powered by Johnson Controls and will feature a giant Ferris Wheel, a Soaring Football Zipline, an amphitheater and more
CANTON, Ohio--(BUSINESS WIRE)--
Hall of Fame Resort & Entertainment Company (“HOFV” or the “Company”) (NASDAQ: HOFV, HOFVW), is excited to share details surrounding the Play-Action Plaza that is coming to the Hall of Fame Village powered by Johnson Controls in Canton, Ohio. Play-Action Plaza, a 3.5-acre, engaging entertainment, relaxation, and “play” zone, will be located adjacent to the Fan Engagement Zone and Center for Performance and has been created to further enhance the fan experience at the Hall of Fame Village.
Designed as an interactive gathering place, Play-Action Plaza will be a fun and inviting setting, bringing together people of all ages to enjoy activities, concerts, games and a variety of engaging events. The Plaza will feature several attractions, including the only two rides of their kind in Stark County, Ohio – a giant Ferris Wheel with 20 gondolas equipped to accommodate six-to-eight people each and a Soaring Football Zipline. The Ferris Wheel, standing several stories high, gives riders a “sky view” of the Village and surrounding area and will be called the Red Zone, while the zipline will be known as The Forward Pass and will feature football-shaped attachments on each seat. Play-Action Plaza, along with these unique attractions, compliment the growing array of restaurant and entertainment options that will be offered at the Village.
Play-Action Plaza’s amphitheater will host a variety of outdoor entertainment including concerts, fitness challenges, speaker series, lectures, small events and more. Other highlights include a water feature, a bar area with patio, and a devoted space for food trucks and local vendors. The entire Plaza will be wrapped by a walking trail for fitness-minded visitors and guests.
“Play-Action Plaza will have something for everyone,” said Michael Crawford, President and CEO of HOFV. “It will offer our guests thrilling rides, entertainment, competitive games and more! Play-Action Plaza will allow visitors to experience entertainment options alongside nature unlike anything that exists in our region, and will expand upon the collection of uniquely themed experiences and events we have to offer our fans and guests.”
Construction of Play-Action Plaza is well underway and is expected to be completed and open in late summer 2022. In addition to being a place guests routinely frequent, the Company also anticipates Play-Action Plaza being a destination for the local community to enjoy and showcase its talent, be it artists holding concerts in the amphitheater, chefs serving up their takes on food or vendors offering their wares.
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 the 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.
Source: Hall of Fame Resort & Entertainment Company
FAQ
What is the Play-Action Plaza at Hall of Fame Village?
The Play-Action Plaza is a 3.5-acre entertainment area featuring attractions like a Ferris Wheel and a Zipline, designed to enhance the fan experience.
When is the Play-Action Plaza expected to open?
The Play-Action Plaza is expected to be completed and open in late summer 2022.
What attractions will be available at the Play-Action Plaza?
The plaza will feature a giant Ferris Wheel, a Soaring Football Zipline, an amphitheater, and various food and entertainment options.
How will Play-Action Plaza affect Hall of Fame Resort's business?
The new plaza aims to attract more visitors, enhancing business opportunities through diverse entertainment and community events.
What are the potential risks associated with the Play-Action Plaza project?
Construction uncertainties and the absence of detailed financial metrics may impact HOFV's projections and timelines.
