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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Hall of Fame Resort & Entertainment Company    HOFV

HALL OF FAME RESORT & ENTERTAINMENT COMPANY

(HOFV)
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Hall of Fame Resort & Entertainment Company : Extends Agreement with PepsiCo Beverages North America

04/01/2021 | 09:29am EDT

Pepsi will continue to serve as the non-alcoholic beverage partner of the Hall of Fame Village powered by Johnson Controls

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 it has extended its agreement with PepsiCo Beverages North America to serve as the non-alcoholic beverage partner of Hall of Fame Village powered by Johnson Controls (“the Destination”). Pepsi beverage products will continue to be sold at the Destination and all of its assets, including the Tom Benson Hall of Fame Stadium, DoubleTree by Hilton hotel and the National Youth Football and Sports Complex.

“We are proud to partner with Pepsi to share its product line throughout our Destination assets,” said Erica Muhleman, Executive Vice President of New Business Development/Marketing & Sales for HOFV. “This partnership is an example of another world-class organization on our roster of prestigious affiliated brands recognizing our value as a company as we continue to grow our multiple business verticals. As football fans and visitors safely return to in-person events and leisure travel, this agreement will enable us to continue to offer our guests high-quality, name-brand beverage options at each and every one of our properties.”

The extended partnership will allow the continued sale of Pepsi beverage products, including Gatorade, Aquafina, Pepsi and Diet Pepsi, to athletes and spectators visiting the Destination. In addition to being provided on a regular basis at the Destination, extended opportunities include a presence during all of the event offerings that HOFV has planned this year, which include:

  • Women’s Football Alliance Championship Weekend
  • The Highway 77 Music Festival featuring Dan + Shay, Kelsea Ballerini and others
  • Two Pro Football Hall of Fame Enshrinements
  • The Black College Football Hall of Fame Classic
  • The Hall of Fame Game featuring the Pittsburgh Steelers and Dallas Cowboys

Pepsi is just one of many prominent brands to be affiliated with HOFV, which include Topgolf Swing Suites, Shula’s Restaurant Group, Republic Services, Blue Technologies and Spectra Partnership.

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 PepsiCo

PepsiCo products are enjoyed by consumers more than one billion times a day in more than 200 countries and territories around the world. PepsiCo generated more than $70 billion in net revenue in 2020, driven by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker, Tropicana, and SodaStream. PepsiCo's product portfolio includes a wide range of enjoyable foods and beverages, including 23 brands that generate more than $1 billion each in estimated annual retail sales. Guiding PepsiCo is our vision to Be the Global Leader in Convenient Foods and Beverages by Winning with Purpose. "Winning with Purpose" reflects our ambition to win sustainably in the marketplace and embed purpose into all aspects of our business strategy and brands. For more information, visit www.pepsico.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.


© Business Wire 2021
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Financials (USD)
Sales 2021 35,0 M - -
Net income 2021 -32,0 M - -
Net Debt 2021 - - -
P/E ratio 2021 -8,61x
Yield 2021 -
Capitalization 308 M 308 M -
Capi. / Sales 2021 8,80x
Capi. / Sales 2022 3,83x
Nbr of Employees 30
Free-Float 60,3%
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 1
Average target price 5,00 $
Last Close Price 3,27 $
Spread / Highest target 52,9%
Spread / Average Target 52,9%
Spread / Lowest Target 52,9%
EPS Revisions
Managers and Directors
NameTitle
Michael Crawford Chairman, President & Chief Executive Officer
Jason Krom Chief Financial Officer
Michael Levy President-Operations
Anthony J. Buzzelli Independent Director
David Dennis Independent Director