Hall of Fame Resort & Entertainment Company Files Form 10-Q for the Quarter Ended September 30, 2020
Hall of Fame Resort & Entertainment Company (HOFV) filed its Quarterly Report on Form 10-Q for the period ending September 30, 2020. During this quarter, the company invested $16 million as part of a total $250 million development initiative. Key progress included groundbreaking for the Constellation Center for Excellence, renovations to the DoubleTree hotel, and partnerships with Shula's Steakhouse and Top Golf. The company also launched the NFL Alumni Academy and rebranded its fantasy football league, aiming to enhance its sports and entertainment offerings.
- Completed $16 million investment during Q3 2020 as part of a $250 million total development plan.
- Groundbreaking for the Constellation Center for Excellence.
- Partnerships with Shula's Steakhouse and Top Golf.
- Launch of the NFL Alumni Academy and rebranding of the fantasy football league.
- None.
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 and owner of the Hall of Fame Village powered by Johnson Controls in Canton, Ohio, today announced it has filed its Quarterly Report on Form 10-Q for the quarter ended September 30, 2020 with the Securities and Exchange Commission (“SEC”). The report is available on the SEC's website at https://www.sec.gov and will be available on the Company's Investor Relations website at http://ir.hofreco.com/docs under SEC Filings.
“As a multi-dimensional sports and entertainment company, we are pleased with the progress we’ve achieved during our first quarter as a public company against our long term strategic goals. We started to create assets for our first themed destination in Canton, Ohio by breaking ground on the Constellation Center for Excellence and completing the renovation on the DoubleTree, which we expect to open in the next couple of weeks. In addition, we entered partnerships with Shula’s Steakhouse and Top Golf to be part of the destination. On the media and gaming verticals, we launched the NFL Alumni Academy and announced the brand for our new fantasy football league, called the Hall of Fantasy League, which looks to redefine fantasy football with the launch of the league for the 2021 NFL season,” commented Mike Crawford, Chief Executive Officer. “We continue to remain excited about the long range opportunities in front of us to leverage the power of professional football and create multiple business verticals across an integrated platform and the entire team remains committed to making this company as successful as it can possibly be for the long, long-term,” added Mr. Crawford.
The Company is an early stage development company that has invested approximately
- Added key personnel to our leadership team
- Signed partnership with Spectra Partnerships to support growing revenue through sponsorships
- Rebranded the Company’s flagship destination resort to “Hall of Fame Village powered by Johnson Controls” (“the Village”)
- Commenced construction with the ground breaking of the Constellation Center for Excellence
- Rebranded our new fantasy football league in development to the Hall of Fantasy League
- Launched the inaugural NFL Alumni Academy at the Village, the NFL Alumni Association’s in-season training program designed to prepare the top available free agent player-prospects for opportunities to be promoted to an NFL roster. The Company plans to produce content to provide fans a "behind-the-scenes" look at what it takes to make it to the NFL.
- Executed agreements with Shula’s Restaurant Group as an anchor restaurant and TopGolf Entertainment Group as an anchor virtual experience, both to be located in the Village’s Retail Promenade.
Conference Call Details
The Company will host a conference call and audio webcast on Thursday, November 5, 2020, beginning at 8:30 a.m. ET, to discuss recent developments and provide commentary on the business. Dial-in instructions for the conference call and the replay are outlined below.
Live Call
Dial-In (Toll Free): 1-888-317-6016
International Dial-In: 1-412-317-6016
Conference Replay*
Domestic Dial-In (Toll Free): 1-877-344-7529
International Dial-In: 1-412-317-0088
Canada Dial-In (Toll Free): 1-855-669-9658
Replay Access Code: 10149551
*Available one hour after the end of the conference call through February 5, 2021.
A live audio webcast of the conference call will be available through the “Investor Relations” section of the Company’s website, www.hofreco.com. A replay of the webcast will be archived on the Company’s website.
About the Hall of Fame Resort & Entertainment Company
The 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.
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 “plans”, “strategy”, “goals”, “opportunities”, and “long-term” 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 inability to recognize the anticipated benefits of the business combination; costs related to the business combination; the inability to obtain or maintain the listing of the Company’s shares on Nasdaq; the Company’s ability to manage growth; the Company’s ability to execute its business plan and meet its projections; 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, 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.
