Hall of Fame Resort & Entertainment pany(US:HOFV)2020-08-11 15:24Financial Data and Key Metrics Changes - The company reported cash of approximately $25.9 million, with gross debt net of cash around $81 million, including a senior term loan of $34.5 million and a related party subordinated loan of $13.4 million [72] - The company expects to target approximately $150 million of annual run rate revenue across key pillars including destination assets, media platform, and gaming vertical once Phase 2 construction is complete [75] Business Line Data and Key Metrics Changes - The company operates three business units: themed experiential destination assets, media and original content creation, and gaming, which includes fantasy sports, eGaming, and sports betting [15][16] - Phase 1 of the Hall of Fame Village has assets worth $250 million and welcomes almost 1 million guests per year [18] Market Data and Key Metrics Changes - The company is strategically located in Canton, Ohio, with approximately 32 million people living within a five-hour drive radius, providing a significant market for its entertainment assets [22] - The gaming industry is projected to grow to almost $7 billion by 2027, with a compound annual growth rate of nearly 25% from 2019 [47] Company Strategy and Development Direction - The company aims to create a multi-dimensional sports and entertainment experience, leveraging partnerships with the Pro Football Hall of Fame and the NFL Alumni Association [12][39] - Future developments include a $300 million Phase 2 expansion, which will enhance the destination and increase guest engagement [19][73] Management's Comments on Operating Environment and Future Outlook - Management highlighted the unique opportunity to partner with powerful brands in professional football, emphasizing the potential for significant long-term shareholder value [9][78] - The company is focused on diversifying revenue streams through media, gaming, and enhanced guest experiences, with a strong emphasis on youth sports development [35][44] Other Important Information - The company has committed sponsorship revenue representing over $120 million in long-term value, with projections to grow annual sponsorship revenue to almost $30 million by 2026 [58][64] - The company was recognized as a National Youth Strategy Champion for its commitment to youth athletes, enhancing its reputation and community engagement [37] Q&A Session Summary Question: What are the company's plans for future sponsorships? - The company plans to engage in meaningful sponsorships across various categories, including alcohol, banking, and telecommunications, aiming to grow annual sponsorship revenue significantly by 2026 [63][64] Question: How does the company plan to leverage its gaming vertical? - The company sees eGaming as a way to integrate its business units and increase engagement, with plans to run eGaming tournaments and explore partnerships in sports betting [45][49]