Hall of Fame Resort & Entertainment Company Files Form 10-Q for the Quarter Ended September 30, 2020
November 04 2020 - 6:14PM
Business Wire
To hold an Update Call for Investors
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 $250 million to fund development, including
$16 million during the quarter ended September 30, 2020. The
Company began the third quarter on July 1, 2020 by consummating its
business combination with Gordon Pointe Acquisition Corp. and
commencing its next phase of development as a public company. Since
the close of the transaction, during the quarter the Company has
executed on the following:
- 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.
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Media/Investor Contacts: Media Inquiries
Public.Relations@hofreco.com
Investor Inquiries Investor.Relations@hofreco.com
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