CANTON, Ohio, August 12, 2021–(BUSINESS WIRE)–Hall of Fame Resort Entertainment Company (NASDAQ: HOFV, HOFVW) (the “Company”), the only resort, entertainment and media company centered around the power of professional football, announced its second quarter fiscal 2021 results for the period ended June 30, 2021.
“There have been many key events achieved during the second quarter and continuing into the third quarter, highlighting the strength of the ecosystem that we are creating,” stated Michael Crawford, President and CEO of HOFV. “The foundation that has been laid has created momentum across all business verticals. The last months have been exciting and show the strength of the team to achieve all these accomplishments. We, together with the Pro Football Hall of Fame, hosted Enshrinement Week last week with thousands of people coming to the Hall of Fame Village powered by Johnson Controls to celebrate two Enshrinements (2020 and 2021), the NFL Hall of Fame Game, and concert. Within our Hall of Fame Village Media subsidiary, we co-produced World Chase Tag (“WCT”) 2021 Championships and launched a set of NFTs for six football legends. Finally, within our gaming vertical, our Hall of Fantasy league announced the front offices for each of the teams and launched an app.”
Key Financial Highlights
-
Second quarter revenue was $2.4 million, an increase of 39% compared to the same period of the prior year, primarily driven by hotel revenue. Event and rental revenue also contributed to revenue.
-
Second quarter net income was $15.5 million. This was primarily due to income of $26.3 million related to a change in fair value of warrant liability .
-
Second quarter adjusted EBITDA was a loss of $5.6 million, compared to $1.3M in the same period of the prior year, resulting from increased investments in operations. See
Article source: https://finance.yahoo.com/news/hall-fame-resort-entertainment-company-203100048.html
