Hall of Fame Resort & Entertainment Company has published its financial report for the second quarter of 2022.
Revenue in the second quarter reached $2.7m, reflecting a 14% boost when compared to last year’s corresponding period. The company posted a net loss attributed to shareholders in Q2 that totaled $9.2m.
Adjusted EBITDA decreased, too, during the second quarter when compared to the same period last year. The report reflected a loss of $6.1m net loss in Q2 2022. Adjusted EBITDA during 2021’s second quarter was $5.6m.
Hall of Fame Resort & Entertainment President and CEO Michael Crawford said: “This quarter represented an inflection point in the company’s evolution as we operationalize, and build upon the physical and virtual foundation that has been set over the past couple of years.
“We’ve made key plays across all business verticals, and we continue to move the ball down the field. We have hosted multiple large events on campus during the second and third quarters, where we have been able to capitalize on the synergies across many of our assets.”
Business highlights during the quarter noted significant company wins. During the second quarter, the resort hosted performances from notable entertainers, including Dave Chappelle.
Crawford elaborated on events from the quarter and fan engagement.
He concluded: “We welcomed thousands of guests during Enshrinement week with the kickoff to the NFL season, the Enshrinement ceremony, the Concert for Legends, and then ended the weekend with Dave Chappelle. The media vertical had an excellent showing with its pilot episode of Inspired and launching Football Heaven, a first-of-its kind-podcast, which highlights our access to incredible content and stories from the world of professional football.
“The gaming vertical launched the second season of Hall of Fantasy League (HOFL) and submitted necessary applications to the Ohio Casino Control Commission to obtain the necessary sports betting licenses. And while there is still more to come, the Company has transitioned into an operational destination offering multiple unique engagement opportunities for fans and consumers.”
