Hall of Fame Resort & Entertainment Co
NASDAQ:HOFV
Hall of Fame Resort & Entertainment Co
Hall of Fame Resort & Entertainment Co. is a resort and entertainment company, which leverages the power and popularity of professional football and its legendary players in partnership with the Pro Football Hall of Fame. The company is headquartered in Canton, Ohio and currently employs 45 full-time employees. The company went IPO on 2018-03-12. The firm 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. The firm together with National Football Museum, Inc., doing business as the Pro Football Hall of Fame (PFHOF).
Hall of Fame Resort & Entertainment Co. is a resort and entertainment company, which leverages the power and popularity of professional football and its legendary players in partnership with the Pro Football Hall of Fame. The company is headquartered in Canton, Ohio and currently employs 45 full-time employees. The company went IPO on 2018-03-12. The firm 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. The firm together with National Football Museum, Inc., doing business as the Pro Football Hall of Fame (PFHOF).
Revenue Guidance Lowered: The company reduced its 2024 revenue outlook to $20–22 million, citing event mix and delays in bringing new assets online.
Profitability Improvement: Despite lower revenue, operational efficiencies and cost controls have narrowed losses and improved adjusted EBITDA compared to last year.
Event and Guest Growth: Attendance and guest engagement are up year-over-year, with record-setting weeks in food, beverage, and other campus revenues from a diverse lineup of events.
Balance Sheet Progress: The company restructured over $70 million of debt to extend maturities and received grants and new financing to support ongoing operations and development.
Phase 2 Construction Nearing: Final financing for the Gameday Bay Waterpark and on-site hotel is close to completion, with both assets expected to open in mid to late 2025.
Media and Gaming Expansion: The media pipeline has grown by 50%, with monetization and profitability in sight; gaming events and partnerships are gaining traction.
Operational Focus: A strong emphasis on bundling, packaging, and customer experience is driving increased synergy and longer guest stays on campus.
