Steve Emerson's questions to Venu Holding Corp (VENU) leadership • Q3 2024
Question
Steve Emerson from Emerson Investment Group asked for a breakdown of the $2 billion facility pipeline by development stage, the typical length of operating agreements with partners like AEG, and the amount of revenue recognized from the Ford naming rights deal in the current quarter.
Answer
Founder, Chairman and CEO, JW Roth, detailed the project pipeline, noting that Colorado Springs and Gainesville are operational, Broken Arrow is under construction, and McKinney and El Paso have signed agreements. He stated that six additional markets are in various stages of negotiation. Roth explained that operating agreements are typically for 10 years with two 5-year renewal options. Regarding the Ford sponsorship, CFO Heather Atkinson clarified that two months' worth of the revenue was recognized in Q3, while Roth added that the deal would be recognized at approximately $1.3 million annually going forward.