Hall of Fame Resort & Entertainment Company Partners with StakeKings to Bring Staking Concept to Season-Long Fantasy Sports L...
December 15 2020 - 8:00AM
Business Wire
StakeKings platform will allow participants of
the Hall of Fantasy League to become shared stakeholders of any of
the league’s 10 franchises
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 partnered with StakeKings to
power the Hall Of Fantasy League (“HOFL”), the first
community-backed national fantasy league. The partnership will
introduce staking – the concept of making a financial contribution
to cover a portion of a participant’s entry or buy-in fee, and in
return taking a percentage of the winnings – to a season-long
fantasy sports league for the first time.
“We are excited by the significant progress we have made on our
go-to-market strategy for the HOFL since we acquired the League
this past summer,” said Michael Crawford, President and Chief
Executive Officer of HOFV. “As a result of this important
partnership with a category leader in StakeKings, we now have the
infrastructure we need to power the HOFL and allow individuals to
purchase a stake in a communally shared fantasy team that competes
over the course of a season, not just on a given day. We are the
only fantasy league to offer this kind of opportunity to the
public.”
The StakeKings platform will enable the public to partially
stake any of the HOFL’s 10 regionally based franchises, thereby
becoming team stakeholders and gaining access to exclusive content,
communications, and team governance features. Stakers will be
entitled to their pro rata shares of their teams’ winnings and will
have opportunities to provide input on key roster moves while
engaging directly with their franchises’ Front Office teams and
fellow stakeholders.
“StakeKings is excited for our partnership with the HOFL,” said
Tyler Hancock, Founder and CEO of StakeKings. “Together, we look
forward to bringing a new form of entertainment to fantasy
football, and we can't wait for next season!”
The HOFL’s inaugural draft is expected to take place in summer
of 2021 and its first season will commence alongside the 2021-22
NFL season. Announcements pertaining to franchise locations, team
names and logos, front office personnel and league rules will be
announced in the months leading up to the draft. The League will
leverage its access to the Pro Football Hall of Fame, NFL alumni
and fantasy football personalities to create original video, audio
and written league-focused content that will be hosted on its
platform, helping to entertain, educate and engage team
stakeholders throughout each week of the season.
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 Fantasy League
Hall of Fantasy League (HOFL) is the first community-backed
national fantasy league. Launching with 10 regionally based
franchises in key U.S. markets, HOFL teams will be managed by a
dedicated front office of fantasy experts and former NFL players.
Participation in the league will come in the form of staking, which
will allow the public to financially back individual teams, become
team stakeholders, and gain access to exclusive content,
communications, and team governance features. The HOFL’s inaugural
draft is expected to take place in summer of 2021 and its first
season will commence alongside the 2021-22 NFL season. For more
information visit www.thehofl.com.
About StakeKings
StakeKings is the largest crowd-staking and event management
platform in the world. While StakeKings is best known for its
staking software, the platform is launching its new event
management feature this month. This new feature will allow event
organizers to utilize StakeKings built-in cashier for simple
payment processing, registration, prize distribution, and
crowd-staking for event participants all in one platform. To learn
more about StakeKings, visit www.StakeKings.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 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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version on businesswire.com: https://www.businesswire.com/news/home/20201215005435/en/
Media/Investors: For Hall of Fame Resort &
Entertainment Company Media Inquiries: public.relations@hofreco.com
Investor Inquiries: investor.relations@hofreco.com
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