Recent HOFV transcripts
Associated HOFV filings
| Anne Graffice | EVP, Public Affairs |
| Michael Crawford | President and Chief Executive Officer |
| Benjamin Lee | Chief Financial Officer |
| Jack Vander Aarde | Maxim Group |
Good morning and welcome to the Hall of Fame Resort and Entertainment Company’s Second Quarter 2022 Earnings Conference Call. This conference call is being recorded and all participants are in a listen-only mode.
We will open the conference up for questions and answers following the prepared remarks. It is now my pleasure to turn the conference over to Anne Graffice, Executive Vice President, Public Affairs.
You may begin.
you earnings joining conference thank second for and XXXX quarter call. morning all us for our Good
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our financial will operations, line price, from based all and the not flow cash vary for or cash cash this in equivalents future does impact it periods. While on stock and prior the statements company's liquidity
$XX construction ATM. under cash driven flow various expenditures in quarter, be was our during approximately to Both the quarter. restricted to offset compared a quarter. million stock balance values common the balance obtained We the of Moving million from the sheet. approximately usage finished first usage company's cash by the proceeds with approximately are to of the spent $XX continues instruments $XX from cash by second cash This financing inclusive during with of of quarter primary operations the the to addition million balances. at end cash of and sale The
allowed to company the continues pause for loan money offering $XXX the the Midwest quarter. bridge million Capital, and from Capital to company's to in invest Stark in was payable increased compared to loan end largest much to $X.X CH the the shows at due principal The $XXX million bridge at from notes first million a primarily balance debt amounts net $XX.X related to increased the million Foundation. from loan increase and the equity The Lender CH of the $X a Community million Our loan of at current shareholder quarter company.
the its of PACE continued focused we've $XX.X company destination as not reflects economic local also on work, bit a building areas addition, long on for. financial significant financing asset the like Stadium. infrastructure premier allows impact more common financing the been financing goal significant term our both lenders provide a progress that financial laser and community. These capital community that goals. of to early Fame Benson a end. closed In reach Hall We've the company traditional driving will I'd into to In be do site provided July, make typically in support dollars since to give fund detail by on to quarter our structure Tom used local foundation the by the million supported
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primarily adjusted full we than This relates fiscal sponsorship XXXX approximately as low of revenue lease in a loss and delays full the million. revising revenue. the it in and year reduction of and year with our are guidance As revenue lower an timing in to $XX range result expected $XX Mike guidance, is expected discussed expected EBITDA guidance million media
run are revenue assets, rate vertical. EBITDA support approximately revenue the with $XX financial so annual In gaming be communicated. we verticals. destination operating the balancing our one execute adjusted working are of While closing, Those to mid-teens, to run half remainder while on in maintain construction Throughout expenses our $XXX stated work operationalize rate dollars future add our lower than we millions business Longer of term, all year, in previously expect diligent spend revenue per streams generation platforms key and the we've that on multiple our EBITDA to key significant of investing the across the continue run and and in the we as pillars guidance, the annual the and current our of across exciting quarter. our three we of to priorities of Phase we build. ecosystem continues trajectory again upward the driving our X pillars. diversified remain each still based XXXX, in will to target The synergies to media expect second growth hard million assets. resources continuing rate We million across team
long-term to We also balance shareholder sheet through provides committed our growth flexibility extremely value. that phase to remain maintaining deliver a financial
provide to you've we transparent Finally, shareholders and come updates to our as timely to move will we continue expect, as ahead. and
Mike? turn Mike, closing who will comments. to I'll some it provide back Now,
just so address Ben grateful to you, great really conclusions, thanks efforts him doing. and you're so job Thank his script. bit and for off I Ben partnership. many thing, and for little a the want has supported lead I'm One helped
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long-term debt rate ensure the to creative interest We PACE is that lending debt, around have of longer this been XX like incredibly lower years things success term company.
to of you each the each an loans for has in in you that belief the anyone and each having from adding plan call company's put impact is to media these before projecting remind from I'd in the that capital So asset, this order the for more the general us are the according tell the the to like stack that they're city, and I'd you, and county in is community thinking is the which our surrounding walks approval this and show vehicles. community already they asset economic from region. just that also support and start away this risk are debt, have on community asset, of the all confidence to layering and the to really from first help other just going gaming we for investment going have doing at area requires then success, equity
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creating Now, be past the across a two I've game of not with a across last just end hotel alive look honoring and changer a say, platform created, synergy we to our day media. proud early We're along when said betting add two more it we of that we're what Rush and two and an construction running. of exceptional thing and for not said you're be creating is maybe as committed summer. more destination have. them why. saying, goal business our and with of and this I've every year vertical seeing has and our Sports created and day know Betr. that thing we and of well. This the and that by inspiring in imagined not experience as could driving XXXX, those well and park visit. by explain -- just doing. up of I'll vertical ground can we synergy for the the will this an every single We is the creating and couple is And gaming our other a partnerships at team true. is us just my one through company, just our I it's throughout is is our in they're all is and have what assets break with thing, partners I hour what posts hopefully us business doing future at but that, water some I'll opportunity a on all aligned and half and could think this our in And end I'll be next hopeful
trust just You process to the here. have
is We change. never company committed excellence. long-term a This going to are We're company that to committed is a midterm value. and to
proud we couldn't and more team. allows the While we'd I like things do want be to to of do us that. do to quicker, great process the things
shareholders a answered of was investors, every stop open for and to these you. just as you me on for And hopefully a know progress and changes felt turn hear single to I'll from and now of And evolves. all the think I some and It questions. it directly I lot it's of was I longer it issues and we're you back this for me call. exciting important Anne we've day. up making. over key broader questions. Thank this bit
any anyone Thank on you, questions Mike. call? Do the from we have
first Group. Maxim Our comes Vander [Operator Jack from Aarde question the line of Instructions] with
proceed may You with your question.
guys. continues to I'll morning the good hear Village added appreciate I all start Good It's Great. with to advance. the color. the Michael, question.
noted next the How awareness Thank maybe role attendance see play look You in a other that, of And you into just as NFTs record attendance. those do any you. year? and levels you maybe the the maybe color? summer
you it slate from how to been year, destination that be and we have football excitement exponential. agents, came Yes, people And see I thanks booking say amenities the and what operators, last ideas. with talent you with seeing I year sporting our can't for people and you've juices number as Jack. women's flowing to offer. for the you with wow in the tell easy event as would have has you is that were, now conversations the championships Enshrinement, to have that seeing of event if here, a growth USFLs, created, at, that the this came that, look certainly we
We're right I'm excited very So year. about booking of next the process in now.
years or As of you little with hangover concerts suffering talent had canceled a year to COVID and gets sometimes events We're years. booked a in terms for out. couple know, multiple a still even with bit that be
that an growth for going correct I If year they're same was year our that out to event of growth saw, kind be out course partners. I very team So those. and next think the our indicator of and we slate is still trying expect strong. the But of this to
quality athletes And is have experience and helping a others what these that comment around proud are compelling that now. the becomes such us are it that creating. I'm as we and I for think just unparalleled the of We really of we're that helping, And agents book more that having and artists talent are open these destination. assets,
for more this year. so And should fans exciting even than our next be it our and guests year, for so
being sports in that a seeing about to think entitlements, I one But kind only to of want And will We I we this think one have asked really experiences NFTs to question a NFTs tickets an digital create NFTs becoming not pieces, but of that give being opportunity one of collectable a attached experiences, pieces, you those. kind kind a are just NFTs. grow across usable. you're to from collectable to general, events.
I And lot going us so while think is for I there opportunity this won't talk do a to be call, there. that on about
remains a maybe hear a I the guidance. reminder important, that's terms Ben then in just line a so for most did question guidance long-term bit. and XXXX and Ben the cutting in the little impact, just And Can XXXX and be great. touch construction on but target. guidance may the That's out comments was outlook of on spend? My you on
to Yes, Glad revisit that. sure.
strong to and imagine. seeing timing growth, I'm in for half media revenue still for and Again, changes quarter-over-quarter about, primarily second guidance due million. low we approximately the talked million for and we're we sponsorship, range we XXXX, a expect to sorry, revenue, year trajectory can relates on reduced it we're that you as EBITDA as upward here, loss $XX $XX that expecting of lease So full but pretty adjusted
of to terms of dollars of where for around rate been construction millions In quarters quarters. spend, the of the run right past the we've couple expect we maintain next a couple of mid-teens,
of launch. really Hall helpful. of to Michael, second term on Hall That's Fame the such of or that's Cool the great. near event. then Okay, just that season one And League, point a more Fancy see
just talked You monetization about adding play free bit maybe Can to touch new league in or schemes you that plans. on a further?
to we new I realized model, a had brand a we that Yes, was think, unfamiliar model world. franchise look the that fantasy
I think it was very popular.
Right? world make yards last game space, engagement meaningful from the we seeing the you're fantasy And people GMs, an our in those on and to had meaningfully great Engagement the quarterback take living ever participants is that with them. then time Commissioner and for in and a best Emmett bunch. get game already changes impact who the of one to and more played hear engaged really are year. a and learned Smith. the think this These being celebrities and from I gain important. ball than expert whole They also the the
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that’s I it me. Thanks, the Great. appreciate color. all really from
Jack. Thanks Absolutely.
of call gentlemen, closing I session. today's have Anne remarks. and question-and-answer for back we this to Ladies end like reached would Graffice over turn the to
our sincere extending plan. and partners. team Entertainment Thank say support you. a just our in behalf Resort just very at investors, you continued the game really our In want appreciate thank belief the and entire Fame to Company We closing, our to shareholders, your I of of Hall & on
hope today. you thank for So being ahead. and have great us weekend I you a with wonderful Friday a
This today's concludes conference.
the day. this you You your may your Enjoy rest at Thank lines of for participation. time. disconnect your
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