Hall of Fame Resort & Entertainment (HOFV) AI Stock Analysis

• Market Cap: $5.59M
• Dividend Yield: N/A
• Average Volume (3M): 10.51K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.73
• Revenue Growth: -17.54%
• EPS Growth: 24.84%
• Country: US
• Employees: 71
• Sector: Communication Services
• Sector Strength: 96
• Industry: Entertainment
• EPS (TTM): N/A
• Shares Outstanding: 6,700,844
• 10 Day Avg. Volume: 10,060
• 30 Day Avg. Volume: 10,505
• PEG Ratio: N/A
• Price to Book (P/B): N/A
• Price to Sales (P/S): N/A
• P/FCF Ratio: N/A
• Enterprise Value/Market Cap: 50.41
• Enterprise Value/Revenue: 14.37
• Enterprise Value/Gross Profit: 21.20
• Enterprise Value/Ebitda: -26.92
• 1Y Price Target: $1.00
• Price Target Upside: 19.05% Upside
• Rating Consensus: Moderate Sell
• Number of Analyst Covering: 0

• Rating: 39 Underperform
• Price Target: $1.00 ▲(19.05% Upside)

The overall stock score is heavily impacted by the company's poor financial performance and the negative corporate event of receiving a Nasdaq delisting notice. The technical analysis provides some neutral signals, but the valuation remains unattractive due to ongoing losses. The potential move to OTC Markets further adds to the risk profile.

Positive Factors

Campus activity

There was also progress in campus activity, with HOFV hosting 2,800 participants in the inaugural NFL Flag competition.

Equity and debt support

Stuart Lichter and affiliates have provided crucial equity and debt capital support, essential for the company's projects.

Financing discussions

HOFV has obtained private and municipal financing totaling more than $200M and is in active discussions regarding additional municipal and other funding.

Negative Factors

Construction financing risks

There are risks related to construction financing, funding, and equity dilution, which could impact the company's financial stability.

Revenue guidance reduction

Management reduced 2024 revenue guidance to $20M-$22M, -13% y/y at the midpoint, from $24M-$27M.

Stock rating downgrade

The stock rating was downgraded to Hold due to limited upside potential and uncertainty surrounding the go-private proposal.

Hall of Fame Resort & Entertainment Business Overview & Revenue Model

Company Description

Hall of Fame Resort & Entertainment Company, a resort and entertainment company, doing business as the Pro Football Hall of Fame. It owns the premier sports, entertainment, and media enterprise surrounding the Pro Football Hall of Fame in Canton, Ohio. The company was founded in 2015 and is headquartered in Canton, Ohio. Hall of Fame Resort & Entertainment Company is a subsidiary of Industrial Realty Group, LLC.

How the Company Makes Money

Hall of Fame Resort & Entertainment Company generates revenue through multiple streams. The primary source of income is its themed attractions and resorts, which include hotel accommodations, event hosting, and retail operations. Additionally, the company capitalizes on media content through partnerships and the production of original programming, leveraging its connections with the Pro Football Hall of Fame and the NFL to create engaging content. HOFV also explores opportunities in the gaming industry, including sports betting and fantasy sports, which contribute to its earnings. Strategic partnerships with sports organizations, media companies, and gaming firms play a significant role in enhancing its revenue potential and expanding its offerings.

Hall of Fame Resort & Entertainment Financial Statement Overview

Summary

Hall of Fame Resort & Entertainment is facing severe financial challenges, with negative profitability, high leverage, and poor cash flow performance. The company's financial health is significantly impacted by persistent losses and high debt levels, limiting its flexibility and long-term viability.

Income Statement

Hall of Fame Resort & Entertainment has faced significant challenges in maintaining profitability, with consistent negative net income and EBIT margins. The TTM period shows a decline in revenue compared to the previous year, and the net profit margin remains negative. The company's gross profit margin has improved slightly in TTM, but overall profitability metrics are weak, reflecting ongoing financial difficulties.

Balance Sheet

The balance sheet reveals a high debt-to-equity ratio, indicating significant leverage, which poses a risk in terms of financial stability. Stockholders' equity has decreased over time, reflecting financial strain. Despite a reasonable equity ratio, the company's high debt levels are concerning, limiting financial flexibility.

Cash Flow

Cash flow analysis highlights persistent negative free cash flow, which has worsened over time. The operating cash flow to net income ratio is negative, reflecting operational challenges. While financing activities provide some liquidity, the company's inability to generate positive free cash flow poses a significant risk to its financial health.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	19.60M	21.21M	24.13M	15.98M	10.77M	7.10M
Gross Profit	13.29M	15.22M	17.64M	-25.95M	-21.83M	-19.02M
EBITDA	-10.46M	-7.36M	-31.33M	-22.32M	-71.87M	-18.31M
Net Income	-52.71M	-55.85M	-68.68M	-45.88M	-92.41M	-45.49M
Balance Sheet
Total Assets	360.50M	366.71M	441.90M	456.30M	337.29M	310.84M
Cash, Cash Equivalents and Short-Term Investments	831.08K	2.87M	3.24M	30.08M	10.28M	7.15M
Total Debt	265.34M	266.93M	285.96M	174.73M	101.36M	98.90M
Total Liabilities	315.67M	294.47M	315.16M	265.04M	132.71M	126.65M
Stockholders Equity	45.79M	73.19M	127.69M	192.14M	205.18M	165.28M
Cash Flow
Free Cash Flow	-16.52M	-27.31M	-72.59M	-100.06M	-91.50M	-66.98M
Operating Cash Flow	-11.91M	-10.91M	-27.00M	-4.89M	-20.76M	-18.37M
Investing Cash Flow	-4.11M	-7.77M	-27.83M	-112.13M	-70.73M	-17.58M
Financing Cash Flow	14.82M	11.31M	33.13M	133.15M	68.83M	67.38M

Hall of Fame Resort & Entertainment Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 0.84
• 50DMA: Negative
• 100DMA: Positive
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HOFV, the sentiment is Negative. The current price of 0.84 is below the 20-day moving average (MA) of 0.85, below the 50-day MA of 0.85, and below the 200-day MA of 0.94, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 48.06 is Neutral, neither overbought nor oversold. The STOCH value of 3.19 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HOFV.

Hall of Fame Resort & Entertainment Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	60 Neutral	$46.28B	4.13	-13.12%	4.13%	1.85%	-42.71%
RDI	53 Neutral	$52.92M	―	-540.12%	―	7.59%	61.22%
DLPN	49 Neutral	$14.44M	―	-101.62%	―	4.84%	-9.71%
LVO	47 Neutral	$58.09M	―	154.70%	―	-18.76%	-21.72%
HOFV	39 Underperform	$5.59M	―	-72.74%	―	-17.54%	24.84%
ZNB	―	$761.20K	―	-200.89%	―	―	―
ANGH	41 Neutral	$20.86M	―	-270.84%	―	88.72%	-85.54%

Hall of Fame Resort & Entertainment Corporate Events

Hall of Fame Resort Increases Credit Facility by $1M

On July 24, 2025, Hall of Fame Resort & Entertainment Company and its subsidiaries entered into a Ninth Amendment to their Note and Security Agreement with CH Capital Lending, LLC. This amendment increases the facility amount from $14 million to $15 million, allowing the company to access an additional $1 million for general corporate purposes, which could impact its operational flexibility and financial strategy.

Hall of Fame Resort Extends Loan Agreement

On June 30, 2025, Hall of Fame Resort & Entertainment Company and Stark Community Foundation agreed to amend their business loan agreement, extending the maturity date to December 31, 2025, while maintaining the interest rate at six percent per annum. This extension provides the company with additional time to manage its financial obligations, potentially impacting its operational strategies and financial planning.

Hall of Fame Resort Faces Nasdaq Delisting Notice

On June 18, 2025, Hall of Fame Resort & Entertainment Company amended its Note and Security Agreement with CH Capital Lending, increasing its borrowing capacity by $2 million for general corporate purposes. Additionally, the company received a delisting notice from Nasdaq due to its failure to hold an annual shareholder meeting by June 30, 2025, as required by Nasdaq rules. The company does not plan to appeal the delisting, and its stock is expected to move to the OTC Markets Group.

Hall of Fame Resort Secures Increased Lending Facility

On May 27, 2025, Hall of Fame Resort & Entertainment Company and its subsidiaries entered into a Seventh Amendment to their Note and Security Agreement with CH Capital Lending, increasing their facility amount from $10 million to $12 million for general corporate purposes. Additionally, John Van Buiten announced his resignation as Vice President of Accounting, effective upon the closure of a merger or by August 31, 2025, with no disagreements cited with the company.