Hall of Fame Resort & Entertainment reports Q1 ($2.30) vs. ($3.48) last year

Reports Q1 revenue $4.2M, up 34% vs. last year. The Company finished Q1 with a cash balance of $6.9M, including $4.2M in restricted cash, compared to $11.8M, including $8.6M in restricted cash, as of December 31, 2023. “The Q1 reflects our stated commitment to flatten seasonality and grow our business. Within the Village, the team has done a great job in diversifying the types and timing of events we host, adding new tenant experiences, and focusing on the necessary capital sources to continue with the development of our Gameday Bay Waterpark and Hilton Tapestry Hotel. Our Media vertical continues to create new content development, which has allowed us to have more shows in distribution on multiple platforms this year compared to the prior year”. Crawford went on to say, “while we continue to build the necessary infrastructure to support revenue growth, we remain focused on maximizing every dollar spent. The results for the Q1 highlight a significant step towards strengthening expense management processes, which will allow the company to reach stabilization quicker. While the macro-environment remains uncertain, the Company continues to focus on investing to create unique experiences for our guests to enjoy and drive positive results for our shareholders”.