Steve Emerson's questions to Venu Holding (VENU) leadership • Q3 2024
Question
Asked for a breakdown of the $2 billion development pipeline by project status (signed, under construction, LOI), the typical length of operator agreements with partners like AEG and Live Nation, and how much of the Ford naming rights revenue was recognized in the quarter.
Answer
The company provided a detailed breakdown of its 11-venue pipeline, confirming 5 are signed/under construction/completed (Colorado Springs, Gainesville, Broken Arrow, McKinney, El Paso) and 6 are in earlier stages. Operator agreements are typically 10 years with two 5-year options, but new venues will be "open rooms" with multiple partners. For the quarter, two months of the Ford naming rights revenue were recognized, and it will be about $1.3 million annually going forward.