Q1 2025 VENU Holding Corp Earnings Call
Good afternoon, and welcome to venue holding Corporation's first quarter 2025 financial results and business update.
Operator: Good afternoon and welcome to VENU Holding Corporation's First Quarter 2025 Financial Results and Business Update. Earlier today, VENU Trading under the ticker symbol VENU issued a press release summarizing the company's first quarter 2025 performance. following the filing of its quarterly report on Form 10-Q for the period ending March 31, 2025.
Earlier today that you're trading under the ticker symbol V. E. N you issued a press release summarizing the company's first quarter 2025 performance.
Following the filing of its quarterly report on Form 10-Q for the period ending March 31, 'twenty 'twenty five.
Operator: This conference call is being recorded and will be available online along with the earnings press release at VENU live in accordance with the company's retention policy. All participants on today's call are in listen-only mode.
This conference call is being recorded and will be available online along with the earnings press release that venue lie.
Life in accordance with the company's retention policies.
All participants on today's call are in listen only mode. Following our prepared remarks, we will open the line for a Q&A session.
Operator: Following our prepared remarks, we will open the line for a Q&A session.
Heather Atkinson: At this time, I'd like to call over to Heather Atkinson, Chief Financial Officer at VENU Holding Corporation. Heather, please go ahead. Thank you all for joining VENU Holding Corporation's first quarter 2025 earnings call and business update.
Speaker Change: At this time I'd like to spend call over to Heather Atkinson, Chief Financial Officer of venue holding Corporation Heather. Please go ahead.
Heather Atkinson: Thank you all for joining Venu Holding Corporation's Q1 2025 Earnings Call and Business Update. On the call today, we have our senior leadership team, myself, Founder, Chairman, and CEO JW Roth, and President Will Hodgkins. Following the Safe Harbor statement, JW will provide a review and share highlights from across the business. Will is going to provide an operational update on VENU. I will then provide a summary of the quarterly financial results. After that, as our operator mentioned, we will open the call for questions. We'd like to remind everyone that various remarks about future expectations, plans, and prospects constitute forward-looking statements for purposes of Safe Harbor provisions under the Private Securities Litigation Reform Act of 1995.
J W: Thank you all for joining venue holding corporation's first quarter 2025 earnings call and business update on the call today, we have our senior leadership team myself founder Chairman and CEO J W. Robin President well Hutchins following the Safe Harbor statement GW will provide a review issue.
Heather Atkinson: On the call today, we have our senior leadership team, myself, Founder, Chairman, and CEO JW Roth, and President Will Hodgkins. Following the Safe Harbor statement, JW will provide a review and share highlights from across the business. Will is going to provide an operational update on VENU. I will then provide a summary of the quarterly financial results. After that, as our operator mentioned, we will open the call for questions. We'd like to remind everyone that various remarks about future expectations, plans, and prospects constitute forward-looking statements for purposes of Safe Harbor provisions under the Private Securities Litigation Reform Act of 1995.
Heather Atkinson: On the call today, we have our senior leadership team, myself, Founder, Chairman, and CEO J.W. Robb, and President Will Hodgkins.
Heather Atkinson: Following the Safe Harbor Statement, J.W. will provide a review and share highlights from across the business.
Speaker Change: Here are highlights from across the business, then well it's going to provide an operational update and then ill I will then provide a summary of the quarterly financial results after that as our operator mentioned, we will open the call for questions.
Heather Atkinson: Then Will is going to provide an operational update on VENU.
Heather Atkinson: I will then provide a summary of the quarterly financial results.
Heather Atkinson: After that, as our operator mentioned, we will open the call for questions.
Heather Atkinson: We'd like to remind everyone that various remarks about future expectations, plans, and prospects constitute forward-looking statements for purposes of Safe Harbor provisions under the Private Securities Litigation Reform Act of 1995. VENU cautions that these forward-looking statements are subject to risks and uncertainties that may cause our actual results to differ materially from these indicated, including risks described in the company's quarterly report on Form 10-Q for the quarter ended March 31, 2025, and our other filings with the SEC, all of which can be reviewed on the company's website at www.venu.live spelled V-E-N-U dot L-I-V-E or on the SEC's website at sec.gov.
J W: We'd like to remind everyone that various remarks about future expectations plans and prospects constitute forward looking statements for purposes of Safe Harbor provisions under the private Securities Litigation Reform Act of 1995 venue cautions that these forward looking statements are subject to risks and uncertainties.
Heather Atkinson: VENU cautions that these forward-looking statements are subject to risks and uncertainties that may cause our actual results to differ materially from these indicated, including risks described in the company's quarterly report on Form 10-Q for the quarter ended 31 March 2025, and our other filings with the SEC, all of which can be reviewed on the company's website at www.venue.live, spelled VENU.live, or on the SEC's website at sec.gov. Any forward-looking statements made on this conference call speak only as of today's date, Thursday, 15 May 2025, and VENU does not intend to update any of these forward-looking statements to reflect events or circumstances that would occur after today's date, except as may be required by federal securities laws. With that, I'd like to turn the call over to our founder, chairman, and CEO JW Roth. JW. Heather, thank you and good afternoon, everyone.
Heather Atkinson: VENU cautions that these forward-looking statements are subject to risks and uncertainties that may cause our actual results to differ materially from these indicated, including risks described in the company's quarterly report on Form 10-Q for the quarter ended 31 March 2025, and our other filings with the SEC, all of which can be reviewed on the company's website at www.venue.live, spelled VENU.live, or on the SEC's website at sec.gov. Any forward-looking statements made on this conference call speak only as of today's date, Thursday, 15 May 2025, and VENU does not intend to update any of these forward-looking statements to reflect events or circumstances that would occur after today's date, except as may be required by federal securities laws. With that, I'd like to turn the call over to our founder, chairman, and CEO JW Roth. JW.
J W: It may cause our actual results to differ materially from these indicated including risks described in the company's quarterly report on Form 10-Q for the quarter ended March 31, 25, and our other filings with the SEC all of which can be reviewed on the company's website. At Www then you don't lives.
J W: V E N you Dot L. I V E or on the Sec's website at at D. C Dot Gov.
Heather Atkinson: Any forward-looking statements made on this conference call speak only as of today's date, Thursday, May 15, 2025, and VENU does not intend to update any of these forward-looking statements to reflect events or circumstances that would occur after today's date, except as may be required by federal securities laws.
J W: Any forward looking statements made on this conference call speak only as of today's date Thursday May 15, 2025, and then you does not intend to update any of these forward looking statements to reflect events or circumstances that would occur after todays date.
J W.: As may be required by federal securities laws with that I'd like to turn the call over to our founder Chairman and CEO J W. Rot J W.
J.W. Robb: With that, I'd like to turn the call over to our Founder, Chairman, and CEO, J.W. Roth. Heather, thank you and good afternoon everyone. We appreciate you joining us today. Okay, I'm going to dig into some prepared remarks, and then we'll move into our question and answer session.
JW Roth: Heather, thank you and good afternoon, everyone. We appreciate you joining us today. Okay, I'm going to dig into some prepared remarks and then we'll move into our question and answer session. This Q1 was incredible. VENU was founded on the simple idea to build world-class live music and hospitality destinations that focus on the fan. Our disruptive model designed around artistic, fan-focused, experience-driven ambiance is absolutely working. We have witnessed fans and shareholders eager to join in on the VENU movement. To better explain the impact of the next few reports, let me take a quick moment and explain how we do what we do. We work with municipalities to identify the economic impact our venues would have on their community because we have seen we are a tide that rises all boats.
J W: Thank you and good afternoon, everyone. We appreciate you joining us today, okay, I'm going to dig into some prepared remarks, and then we'll move into our question and answer session.
Heather Atkinson: We appreciate you joining us today. Okay, I'm going to dig into some prepared remarks and then we'll move into our question and answer session. This Q1 was incredible. VENU was founded on the simple idea to build world-class live music and hospitality destinations that focus on the fan. Our disruptive model designed around artistic, fan-focused, experience-driven ambiance is absolutely working. We have witnessed fans and shareholders eager to join in on the VENU movement. To better explain the impact of the next few reports, let me take a quick moment and explain how we do what we do. We work with municipalities to identify the economic impact our venues would have on their community because we have seen we are a tide that rises all boats.
J.W. Robb: This first quarter was incredible. VENU was founded on the simple idea to build world-class live music and hospitality destinations that focus on the fan. And our disruptive model designed around artistic, fan-focused, experience-driven ambiance is absolutely working. We have witnessed fans and shareholders eager to join in on the VENU movement.
Speaker Change: This first quarter was incredible venue was founded on a simple idea to build world class live music and hospitality destinations that focus on the fan and.
J W.: And our disruptive model designed around artistic fan focused experience driven ambiance is absolutely working we have witnessed fans and shareholders eager to join in on the venue movement.
J.W. Robb: To better explain the impact of the next few reports, let me take a quick moment and explain how we do what we do. We work with municipalities to identify the economic impact our venues would have on their community, because we have seen we are a tide that rises all boats. We then work with the municipality to create public-private partnerships that lead to one of our state-of-the-art venues being built in their city.
J W.: Better explain the impact of the next few reports, let me take a quick moment and explain how we do what we do.
J W: We work with municipalities to identify the economic impact our venues would have on their community. Because we have seen we are a tide rises all boats. We then work with the municipality to create public private partnerships that lead to one of our state of the art venues being built in there.
Heather Atkinson: We work with the municipality to create public-private partnerships that lead to one of our state-of-the-art venues being built in their city. Now, how do we finance what we do? 40% of our financing comes from the municipality partner in each market in the form of real estate, tax incentives, and cash. 40% of the financing comes from the presale of fractional ownerships in each VENU. VENU's unique Luxe FireSuite offers fractional ownership in VENU-owned Sunset Amphitheaters. Owning a FireSuite is like owning a condo within a condo building, except in this case, the condo building is the amphitheater and the condo is the FireSuite. 20% of the financing comes from the sale-leaseback of the real estate that was contributed by the municipality. In fact, this sale-leaseback typically generates a development profit. How does VENU turn profits?
JW Roth: We work with the municipality to create public-private partnerships that lead to one of our state-of-the-art venues being built in their city. Now, how do we finance what we do? 40% of our financing comes from the municipality partner in each market in the form of real estate, tax incentives, and cash. 40% of the financing comes from the presale of fractional ownerships in each VENU. VENU's unique Luxe FireSuite offers fractional ownership in VENU-owned Sunset Amphitheaters. Owning a FireSuite is like owning a condo within a condo building, except in this case, the condo building is the amphitheater and the condo is the FireSuite. 20% of the financing comes from the sale-leaseback of the real estate that was contributed by the municipality. In fact, this sale-leaseback typically generates a development profit. How does VENU turn profits?
J W: Our city now how do we finance, what we do 40% of our finance income from the municipality partner in each market in the form of real estate tax incentives and cash 40% of the financing come from the presale a fractional ownership in each venue venues unique.
J.W. Robb: Now, how do we finance what we do? 40% of our financing comes from the municipality partner in each market, in the form of real estate, tax incentives, and cash. 40% of the financing comes from the pre-sale of fractional ownerships in each venue. VENU's unique Luxe Fire Suite offers fractional ownership in venue-owned Sunset Amphitheaters. Owning a fire suite is like owning a condo within a condo building, except in this case, the condo building is the amphitheater and the condo is the fire suite. Then 20% of the financing comes from the sale-leaseback of the real estate that was contributed by the municipality.
J W: <unk> fire suite offers fractional ownership in venue old Sunset amphitheaters owning a fire suite is like owning a condo within a condo building except in this case the condo building as the amphitheater and the condo is the fire suite then 20% of the financing comes from say a lease.
J W: Back of the real estate that was contributed by the municipality in fact, this sale leaseback typically generates a development profit.
J.W. Robb: In fact, this sale-leaseback typically generates a development profit.
J.W. Robb: So how does VENU turn profits? Number one, we turn profits in the sale of fractional ownership in our venues. We develop raw property contributed by municipalities into state-of-the-art venues with fractional ownerships. Those ownerships go directly onto our balance sheet. These fractional ownerships, along with the sale leaseback, result in a development profit, of which we expect our first one to happen this year.
J W: So how does venue turn profit number one return profits in the sale a fractional ownership in our venues we develop raw property contributed by municipalities intra state of the art venues with fractional ownership those older ships go directly onto our balance sheet. These were accurate.
Heather Atkinson: Number 1, we turn profits in the sale of fractional ownership in our venues. We develop raw property contributed by municipalities into state-of-the-art venues with fractional ownerships. Those ownerships go directly onto our balance sheet. These fractional ownerships, along with the sale-leaseback, result in a development profit of which we expect our first one to happen this year. Number 2, profits from operations. These come as a result of our co-promotion agreements and vendor agreements with associates that are associated with our amphitheaters. Additionally, through the internal operations from our non-amphitheater entities. Q1 posted our biggest quarter yet with over $38 million in fractional ownership sales across our venues, well on our way toward our quarter-of-a-billion goal in 2025. These fractional ownerships are the backbone of the powerhouse that we are building. Remember, these all go directly onto our balance sheet.
JW Roth: Number 1, we turn profits in the sale of fractional ownership in our venues. We develop raw property contributed by municipalities into state-of-the-art venues with fractional ownerships. Those ownerships go directly onto our balance sheet. These fractional ownerships, along with the sale-leaseback, result in a development profit of which we expect our first one to happen this year. Number 2, profits from operations. These come as a result of our co-promotion agreements and vendor agreements with associates that are associated with our amphitheaters. Additionally, through the internal operations from our non-amphitheater entities. Q1 posted our biggest quarter yet with over $38 million in fractional ownership sales across our venues, well on our way toward our quarter-of-a-billion goal in 2025. These fractional ownerships are the backbone of the powerhouse that we are building.
J W: Older ships, along with the sale leaseback result in a development profit.
J W: We expect our first wanted to happen. This year number two profit from operations. These come as a result of our co promotion agreement and vendor agreements with the Soc that are associated with Areva theaters. Additionally, through the internal operations from our non amphitheater entities Q.
J.W. Robb: Number two, profits from operations. These come as a result of our co-promotion agreements and vendor agreements that are associated with our amphitheaters. Additionally, through the internal operations from our non-amphitheater entities.
J.W. Robb: Q1 posted our biggest quarter yet, with over $38 million in fractional ownership sales across our venues, well on our way toward our quarter of a billion dollar goal in 2025. These fractional ownerships are the backbone of the powerhouse that we are building. And remember, these all go directly onto our balance As for our P&L, we will not look back at our losses this first quarter and apologize. The bulk of these costs were non-cash and non-reoccurring development expenses.
J W: <unk> posted our biggest quarter, yet with over $38 million in fractional ownership sales across our venues well on our way toward our quarter of a billion dollar goal in 2025 D. Fractional ownership are the backbone of the powerhouse that we are building and remember these all go.
JW Roth: Remember, these all go directly onto our balance sheet. As for our P&L, we will not look back at our losses this Q1 and apologize. The bulk of these costs were non-cash and non-recurring development expenses. In fact, these costs are driving the most powerful development engine in music, which will turn us profitable later this year with our first development profit and operationally profitable in 2026. As part of that engine, we launched an official partnership with Ryan to rapidly accelerate our national expansion. This relationship and partnership is three years long and is contracted to deliver two new public-private partnerships per quarter. Remember, on average, we can expect to add between $100 million and $300 million to our balance sheet with each delivered development agreement.
J W: Correct Lee onto our balance sheet.
Heather Atkinson: As for our P&L, we will not look back at our losses this Q1 and apologize. The bulk of these costs were non-cash and non-recurring development expenses. In fact, these costs are driving the most powerful development engine in music, which will turn us profitable later this year with our first development profit and operationally profitable in 2026. As part of that engine, we launched an official partnership with Ryan to rapidly accelerate our national expansion. This relationship and partnership is three years long and is contracted to deliver two new public-private partnerships per quarter. Remember, on average, we can expect to add between $100 million and $300 million to our balance sheet with each delivered development agreement. Along the same note, a significant part of this Q1's staggering balance sheet increase was the property acquisitions.
J W: As for our P&L, we will not look back at our losses. This first quarter and apologize the bulk of these costs were noncash and nonrecurring development expenses. In fact, they are driving these costs are driving the most powerful development engine in music, we will tour, which will turn us profitable.
J.W. Robb: In fact, these costs are driving the most powerful development engine in music, which will turn us profitable later this year with our first development profit and operationally profitable in 2026.
J W: Later this year with our first development profit and operationally profitable in 2026.
J.W. Robb: As part of that engine, we launched an official partnership with Ryan to rapidly accelerate our national expansion. This relationship and partnership is three years long and is contracted to deliver two new public-private partnerships per quarter. And remember, on average, we can expect to add between $100 and $300 million to our balance sheet with each delivered development agreement.
J W: As part of that engine, we launched an official partnership with Ryan two to rapidly accelerate our national expansion. This relationship and partnership has three years long and <unk>.
J W: Is contracted to deliver two new public private partnerships per quarter.
J W: And remember on average we can expect to add between 100 and $300 million to our balance sheet with each delivered development agreement.
JW Roth: Along the same note, a significant part of this Q1's staggering balance sheet increase was the property acquisitions. This week, we closed on another 20-acre property for a 12,500-seat multi-seasonal outdoor music venue in El Paso, Texas. The Sunset Amphitheater in El Paso includes a $31.5 million performance-based incentive package from the city of El Paso, Texas. Earlier in the quarter, we also went under contract to acquire a property in the high-growth suburb of Centennial, just outside of Denver, Colorado, where we plan to build an iconic state-of-the-art indoor music hall, private event space, and restaurant.
J.W. Robb: Along the same note, a significant part of this first quarter's staggering balance sheet increase was the property acquisition. This week, we closed on another 20-acre property for a 12,500-seat multi-seasonal outdoor music venue in El Paso, Texas. The Sunset Amphitheater in El Paso includes a $31.5 million performance-based incentive package from the City of El Paso, Texas. Earlier in the quarter, we also went under contract to acquire a property in the high-growth suburb of Centennial, just outside of Denver, Colorado, where we plan to build an iconic, state-of-the-art indoor music hall, private event space, and restaurant.
J W: Along the same note a significant part of this first quarter's staggering balance sheet increase was the property acquisitions.
Heather Atkinson: This week, we closed on another 20-acre property for a 12,500-seat multi-seasonal outdoor music venue in El Paso, Texas. The Sunset Amphitheater in El Paso includes a $31.5 million performance-based incentive package from the city of El Paso, Texas. Earlier in the quarter, we also went under contract to acquire a property in the high-growth suburb of Centennial, just outside of Denver, Colorado, where we plan to build an iconic state-of-the-art indoor music hall, private event space, and restaurant. Let me pause here and talk a little bit about the development timelines, which will include all of our announced projects. Starting with this year, we will have nine open and operating entities that include three concert halls and event spaces, one amphitheater, and five restaurants and bars.
J W: This week, we closed on another 20 acre property for a 12500 seat multi seasonal outdoor music venue in El Paso, Texas.
J W: Onset amphitheater in El Paso includes a 31.5 million dollar performance based incentive package from the city of El Paso, Texas earlier in the quarter. We also went under contract to acquire a property in the high growth suburb of Centennial just outside of Denver, Colorado.
J W: We plan to build an iconic state of the art indoor music call private event space and restaurant.
JW Roth: Let me pause here and talk a little bit about the development timelines, which will include all of our announced projects. Starting with this year, we will have nine open and operating entities that include three concert halls and event spaces, one amphitheater, and five restaurants and bars. In 2026, we are expected to have a total of 16 open and operating entities, including seven concert halls and event spaces, four fully functioning amphitheaters, five restaurants and bars. As we have discussed, our expansion engine is in full gear and we're thrilled to officially unveil our upcoming locations in the months ahead.
J.W. Robb: Let me pause here and talk a little bit about the development timelines, which will include all of our announced projects. Starting with this year, we will have nine open and operating entities. That includes three concert halls and event spaces. one amphitheater and five restaurants and bars. In 2026, we are expected to have a total of 16 open and operating entities, including seven concert halls and event spaces, four fully functioning amphitheaters, five restaurants and bars.
J W: Let me pause here and talk a little bit about the development timelines, which we include which will include all of our announced projects starting with this year. We will have nine open and operating entities that include three concert halls and event spaces.
J W: One amphitheater and five restaurants and bars in 2026, we are expected to have a total of 16 open and operating entities, including seven concert halls and event spaces for fully functioning amphitheater, five restaurants and bars as we have discussed our expansion.
Heather Atkinson: In 2026, we are expected to have a total of 16 open and operating entities, including seven concert halls and event spaces, four fully functioning amphitheaters, five restaurants and bars. As we have discussed, our expansion engine is in full gear and we're thrilled to officially unveil our upcoming locations in the months ahead. Circling back quickly to the fractional ownerships. These fractional ownerships, as previously mentioned, are also known as Luxe FireSuites. Until February of this year, the only way you could participate in this offering was to pay cash upfront. Our team saw an opportunity to introduce structured financing. Now, buyers can access structured payment plans and finance their purchases over time. Since launching, we have seen more than 32% of our buyers choose to finance over traditional payments. Further, Luxe FireSuites continue to be VENU's most sought-after ownership opportunity.
J.W. Robb: As we have discussed, our expansion engine is in full gear and we're thrilled to officially unveil our upcoming locations in the months ahead.
J W: The engine is in full gear and we're thrilled to officially unveil our upcoming locations in the months ahead.
JW Roth: Circling back quickly to the fractional ownerships. These fractional ownerships, as previously mentioned, are also known as Luxe FireSuites. Until February of this year, the only way you could participate in this offering was to pay cash upfront. Our team saw an opportunity to introduce structured financing. Now, buyers can access structured payment plans and finance their purchases over time. Since launching, we have seen more than 32% of our buyers choose to finance over traditional payments. Further, Luxe FireSuites continue to be VENU's most sought-after ownership opportunity.
J.W. Robb: Circling back quickly to the Fractional Ownerships, these Fractional Ownerships, as previously mentioned, are also known as Luxe Fire Suites. Until February of this year, the only way you could participate in this offering was to pay cash up front. Our team saw an opportunity to introduce structured financing. Now buyers can access structured payment plans and finance their purchases over time. Since launching, we have seen more than 32% of our buyers choose to finance over traditional payment. Further, Luxfire tweets continue to be VENU's most sought-after ownership opportunity.
J W: Circling back quickly to the fractional ownership. These fractional ownership as previous as previously mentioned are also known as luck spire suites until February of this year. The only way you could participate in this offering was to pay cash upfront. Our teams saw an opportunity to introduce structured financing now buyer.
J W: As can access structured payment plans and finance their purchases over time since launching we have seen more than 32% of our buyers choose the financial to choose to finance over traditional payments.
J W: Further Lux fire suites continued to be venues most sought after ownership opportunity because of this we have launched a partnership with one of the nation's fastest growing net lease companies stands investment group to offer innovative triple net real estate opportunities through this approach qualified investors can now participate.
Heather Atkinson: Because of this, we have launched a partnership with one of the nation's fastest-growing net lease companies, Sands Investment Group, to offer innovative triple-net real estate opportunities. Through this approach, qualified investors can now participate in VENU's income-producing long-term assets under a triple-net lease structure, offering a projected 11% to 12% cap rate. Finally, we have made strategic additions to our team in the Q1, like bringing on Connect Partnership Group to serve as our official sponsorship sales partner, accelerating our corporate sales and partnership strategy across our brand portfolio. Additionally, we have added financial leader and strategic growth advisor, Mr. Thomas M. Finke, to our board of directors. Mr. Finke has over 35 years of experience in financial services, including Invesco, Babson Capital, MassMutual, and Barings. Our VENU executive leadership team also grew with the announcement and addition of Executive Vice President of Operations, Vic Sutter.
JW Roth: Because of this, we have launched a partnership with one of the nation's fastest-growing net lease companies, Sands Investment Group, to offer innovative triple-net real estate opportunities. Through this approach, qualified investors can now participate in VENU's income-producing long-term assets under a triple-net lease structure, offering a projected 11% to 12% cap rate. Finally, we have made strategic additions to our team in the Q1, like bringing on Connect Partnership Group to serve as our official sponsorship sales partner, accelerating our corporate sales and partnership strategy across our brand portfolio.
J.W. Robb: Because of this, we have launched a partnership with one of the nation's fastest-growing net lease companies, Fans Investment Group, to offer innovative triple-net real estate opportunities. Through this approach, qualified investors can now participate in VENU's income-producing long-term asset under a triple-net lease structure, offering a projected 11 to 12% cap rate.
J W: In venues income producing long term asset under a triple net lease structure offering a projected 11%, 12% cap rate filings, we have made strategic additions to our team in the first quarter like bringing on connect partnership group to serve as our official sponsorship sales partner accelerating our corp.
J.W. Robb: Finally, we have made strategic additions to our team in the first quarter, like bringing on Connect Partnership Group to serve as our official sponsorship sales partner, accelerating our corporate sales and partnership strategy across our brand portfolio.
J W: <unk> sales and partnership strategy across our brand portfolio. Additionally, we have added financial leader and strategic growth advisor, Mr. Thomas and thanks to our board of directors. Mr. Fink has over 35 years of experience in.
JW Roth: Additionally, we have added financial leader and strategic growth advisor, Mr. Thomas M. Finke, to our board of directors. Mr. Finke has over 35 years of experience in financial services, including Invesco, Babson Capital, MassMutual, and Barings. Our VENU executive leadership team also grew with the announcement and addition of Executive Vice President of Operations, Vic Sutter. Vic Sutter has spent the last 20 years in luxury hospitality brands across the United States, the last decade with Live Nation. He's responsible for driving our operational excellence, hospitality, and innovation, and premium guest experiences across all of our premium brands. With that said, I'd like to turn the conference over to President Will Hodgkins. Will, please go ahead.
J.W. Robb: Additionally, we have added financial leader and strategic growth advisor, Mr. Thomas M. Fink, to our board of directors. Mr. Fink has over 35 years of experience in financial services, including Invesco, Babson Capital, MassMutual, and Bearings.
J W: Financial services, including Invesco Babson capital mass mutual in bearings, our venue executive leadership team also grew with the executive with the announcement. In addition of executive Vice President of Operation VIX Setter. Vick has spent the last 20 years in the luxury hospitality brands across the United States the lag.
J.W. Robb: Our VENU executive leadership team also grew with the announcement and addition of Executive Vice President of Operations, Vic Sutter. Vic has spent the last 20 years in luxury hospitality brands across the United States, the last decade with Live Nation. He is responsible for driving our operational excellence, hospitality, and innovation, and premium guest experiences across all of our premium brands.
Heather Atkinson: Vic Sutter has spent the last 20 years in luxury hospitality brands across the United States, the last decade with Live Nation. He's responsible for driving our operational excellence, hospitality, and innovation, and premium guest experiences across all of our premium brands. With that said, I'd like to turn the conference over to President Will Hodgkins. Will, please go ahead. Thanks, JW. Hey all, thanks so much for joining us. As JW mentioned, we have a lot going on at VENU. Our team is spending time focused on the core of our business across our hospitality brands, clubs, and amphitheater operations. Q1 top-line sales were modestly lower year-over-year, driven by a day-part shift at Notes Eatery and a slightly softer performance at Bourbon Brothers and Phil Long Event Center here in Colorado Springs.
J W: Decade with live nation. He is responsible for driving our operational excellence hospitality and innovation and premium guest experiences across all of our premium brands.
Will Hodgkins: With that said, I'd like to turn the conference over to President Will Hodgson. Will, please go ahead. Thanks, JW. Hey all, thanks so much for joining us. As JW mentioned, we have a lot going on at VENU. Our team is spending time focused on the core of our business across our hospitality brands, clubs, and amphitheater operations. Q1 top-line sales were modestly lower year-over-year, driven by a day-part shift at Notes Eatery and a slightly softer performance at Bourbon Brothers and Phil Long Event Center here in Colorado Springs. We are in a product and service development phase, though, implementing several new strategies to enhance our programming, add additional ancillary revenue streams, and improve fan and guest retention.
J W: With that said I'd like to turn the conference over to President will Hudson will please go ahead.
Will Hodgson: Thanks, JW. Hey all, thanks so much for joining us. As JW mentioned, we have a lot going on at VENU. Our team is spending time focused on the core of our business across our hospitality brands, clubs, and amphitheater operations. Q1 top-line sales were modestly lower year-over-year, driven by a day-part shift at Notes Eatery and a slightly softer performance at Bourbon Brothers and Phil Long Event Center here in Colorado Springs. We are in a product and service development phase, though, implementing several new strategies to enhance our programming, add additional ancillary revenue streams, and improve fan and guest retention.
J W: Thanks, J W. Hey, al. Thanks, so much for joining us as J W mentioned, we have a lot going on at venue.
J W: Our team is spending time focused on the core of our business across our hospitality brands clubs and amphitheater operations Q1 topline sales were modestly lower year over year, driven by a day part shifted notes eatery and a slightly softer performance at Bourbon brothers and fill a long event center here in Colorado Springs, we earn.
Heather Atkinson: We are in a product and service development phase, though, implementing several new strategies to enhance our programming, add additional ancillary revenue streams, and improve fan and guest retention. Booking more diverse genres in our clubs, excuse me, investigating robust customer engagement partnerships, implementing new seating configurations, and creating new revenue streams are all meant to better monetize the guest journey, encourage longer dwell times, and provide higher growth potential for artists. We are also preparing to open the Sunset Hospitality Collection here at Ford Amphitheater this fall in Colorado Springs, anchored by our very exciting new fine dining experience, Roth's Seafood & Chophouse. Look for new menu items and mixology offerings at our Bourbon Brothers Smokehouse and Tavern outlets as well, along with new private event packages. As we move through 2025, VENU is positioned for major growth.
J W: In our product and service development phase so implementing several new strategies to enhance our programming and additional ancillary revenue streams and improved fan in guest retention.
Will Hodgson: Booking more diverse genres in our clubs, excuse me, investigating robust customer engagement partnerships, implementing new seating configurations, and creating new revenue streams are all meant to better monetize the guest journey, encourage longer dwell times, and provide higher growth potential for artists. We are also preparing to open the Sunset Hospitality Collection here at Ford Amphitheater this fall in Colorado Springs, anchored by our very exciting new fine dining experience, Roth's Seafood & Chophouse. Look for new menu items and mixology offerings at our Bourbon Brothers Smokehouse and Tavern outlets as well, along with new private event packages. As we move through 2025, VENU is positioned for major growth.
Will Hodgkins: Booking more diverse genres in our clubs, investigating robust customer engagement partnerships, implementing new seating configurations, and creating new revenue streams are all meant to better monetize the guest journey, encourage longer dwell times, and provide higher growth potential for artists.
J W: Booking more diverse genres in our clubs investigate excuse me investigating robust customer engagement partnerships implementing new seating configurations, and creating new revenue streams are all meant to better monetize the guest journey encourage longer dwell times and provide higher gross potential for artists.
Will Hodgkins: We are also preparing to open the Sunset Hospitality Collection here at Ford Amphitheater this fall in Colorado Springs, anchored by our very exciting new Fine Dining Experience Raw Seafood and Chop House. Look for new menu items and mixology offerings at our Bourbon Brothers Smokehouse and Tavern Outlets as well, along with new private event packages.
J W: We are also preparing to open the sunset hospitality collection here at Ford Amphitheater. This fall in Colorado Springs anchored by our very exciting new fine dining experience raw seafood and Chophouse.
J W: Look for new menu items, and mixology offerings at our Bourbon brothers, smokehouse, and tavern outlets as well along with new private event packages.
Will Hodgkins: As we move through 2025, VENU is positioned for major, major growth. We're not only expanding, given what you just heard from JW, we're also hard at work unlocking more value from our current operations, smarter food and beverage strategies, refined premium offerings, and targeted and enhanced analytics to help boost profitability and efficiency across the board. Now most importantly, we're keeping our focus where it belongs, delivering unforgettable experiences for both guests and artists, while raising the bar at every turn.
Speaker Change: As we move through 2025, then you it's positioned for major major growth, we're not only expanding given what you just heard from J W. We're also hard at work unlocking more value from our current operations smarter food and beverage strategies refined premium offerings and targeted and enhanced analytics to help boost profitability.
Heather Atkinson: We're not only expanding, given what you just heard from JW, we're also hard at work unlocking more value from our current operations, smarter food and beverage strategies, refined premium offerings, and targeted and enhanced analytics to help boost profitability and efficiency across the board. Now, most importantly, we're keeping our focus where it belongs, delivering unforgettable experiences for both guests and artists while raising the bar at every turn. With that, I'll turn it back over to our Chief Financial Officer, Heather Atkinson. Heather, please go ahead. Thank you, Will. I appreciate everyone being on the call today. I'm going to dive right into some performance highlights from our Form 10-Q and our earnings release. A few highlights from our balance sheet: our total assets increased 19% for the quarter for $34,464,672 to $212,882,187 as of 31 March 2025, up from $178,417,515 as of 31 December 2024.
Will Hodgson: We're not only expanding, given what you just heard from JW, we're also hard at work unlocking more value from our current operations, smarter food and beverage strategies, refined premium offerings, and targeted and enhanced analytics to help boost profitability and efficiency across the board. Now, most importantly, we're keeping our focus where it belongs, delivering unforgettable experiences for both guests and artists while raising the bar at every turn. With that, I'll turn it back over to our Chief Financial Officer, Heather Atkinson. Heather, please go ahead.
J W: Any inefficiency across the board.
J W: Now most importantly, we're keeping our focus where it belongs delivering unforgettable experiences for both guests and artists while raising the bar at a return.
Heather Atkinson: With that, I'll turn it back over to our Chief Financial Officer, Heather Atkinson. Heather, please go ahead. Thank you, Will. I appreciate everyone being on the call today. I'm going to dive right into some performance highlights from our 10-Q and our earnings release. A few highlights from our balance sheet. Our total assets increased 19% for the quarter for $34,464,672 to $212,882,187 as of March 31, 2025. Up from $178,417,515 as of December 31, 2024. Along that same vein, our property and equipment increased 33% to $182,936. as of March 31, 2025, up from $137,215,936 as of December 31, 2024.
Speaker Change: With that I'll turn it back over to our Chief Financial Officer, Heather Atkinson Heather. Please go ahead.
Heather Atkinson: Thank you, Will. I appreciate everyone being on the call today. I'm going to dive right into some performance highlights from our Form 10-Q and our earnings release. A few highlights from our balance sheet: our total assets increased 19% for the quarter for $34,464,672 to $212,882,187 as of 31 March 2025, up from $178,417,515 as of 31 December 2024. Along that same vein, our property and equipment increased 33% to $182,906,195 as of 31 March 2025, up from $137,215,936 at 31 December 2024. As JW mentioned before, our Luxe FireSuites and Aikman Club sales reached $38.7 million for the 3 months ended 31 March 2025.
Heather Atkinson: Thank you I appreciate everyone being on the call today I'm going to dive right in to some performance highlights from our 10-Q and our earnings release and a few highlights from our balance sheet, our total assets increased 19% for the quarter.
Heather Atkinson: 434.464 million $672 to $212 million $882187 as of March 31, 2025.
178 million $417515 as of December 31, 2024.
Heather Atkinson: Along that same vein, our property and equipment increased 33% to $182,906,195 as of 31 March 2025, up from $137,215,936 at 31 December 2024. As JW mentioned before, our Luxe FireSuites and Aikman Club sales reached $38.7 million for the 3 months ended 31 March 2025. A big push of that was since launching in late February VENU's Luxe FireSuite fractional ownership model, which offers suite access at Sunset McKinney and Sunset Broken Arrow, where investors can put 25% down and offers 20-year financing. It generated $12.5 million in sales through 31 March 2025, out of that $38.7 million total offering. Huge increases in our balance sheet. That really strengthened our balance sheet for Q1. We're super excited about what that's going to offer and how it's really going to continue to increase our balance sheet through the rest of 2025.
Heather Atkinson: And along that same vein, our property and equipment increased 33% to 182900 $6195 as of March 31 2025.
Heather Atkinson: Up from 137 million $215936.
Heather Atkinson: At December 31, 2024.
Heather Atkinson: As JW mentioned before, our Luxe Fire Suites and Aikman Club sales reached $38.7 million for the three months ended March 31, 2025. A big push of that was since launching in late February, VENU's Luxe Fire Suite Fractional Ownership Model, which offers suite access at Sunset McKinney and Sunset Broken Arrow where investors can put 25% down and offers 20-year financing. It generated $12.5 million in sales through March 20, 2025. through March 31, 2025 out of that 38.7 million total offering. So huge increases in our balance sheet. So that really strengthened our balance sheet for the first quarter.
Heather Atkinson: And as Jamie mentioned before our Lux fire suite and Aikman club sales reached $38 $7 million for the three months ended March 31 2025.
Heather Atkinson: A big push of that was since launching in late February VENU's Luxe FireSuite fractional ownership model, which offers suite access at Sunset McKinney and Sunset Broken Arrow, where investors can put 25% down and offers 20-year financing. It generated $12.5 million in sales through 31 March 2025, out of that $38.7 million total offering. Huge increases in our balance sheet. That really strengthened our balance sheet for Q1. We're super excited about what that's going to offer and how it's really going to continue to increase our balance sheet through the rest of 2025. VENU is really poised to continue to strengthen our balance sheet. With that, I'd like to turn it over back to JW for our Q&A session. JW?
Heather Atkinson: A big push of that western launching in late February venues like fire sweep fractional ownership model, which offers suite access at Sunset Mckinney and Sunset broken Arrow, where investors can put 25 person down and offers 20 year financing it generated $12 5 million in sales.
Heather Atkinson: Through March 'twenty.
Heather Atkinson: Through March 31, 2025 out of that $38 7 million total offering so huge increases in our balance sheet. So that really strengthened our balance sheet for the first quarter. So we're super excited about what that's going to offer and how it's really going to continue to increase our balance sheet through the rest of 2025, so and.
Heather Atkinson: So we're super excited about what that's going to offer and how it's really going to continue to increase our balance sheet through the rest of 2025. So VENU is really poised to continue to strengthen our balance sheet.
Heather Atkinson: VENU is really poised to continue to strengthen our balance sheet. With that, I'd like to turn it over back to JW for our Q&A session. JW? Heather, thank you. We couldn't be more excited about where we're going and all that we're doing here at VENU. We are building, literally, we are building a machine that will change and disrupt music. Again, I appreciate Heather and Will participating here. Now we'll open it up for questions. Operator? Thank you. We will now begin the question and answer session. If you have dialed in and would like to ask a question, please press star 1 on your telephone keypad to raise your hand and join the queue. If you would like to withdraw your question, simply press star 1 again. We'll pause just a moment to assemble the queue.
Speaker Change: Then he was really poised to continue to strengthen our balance sheet and with that I'd like to turn it over back to Jay W. For a Q&A session J W.
J.W. Robb: And with that, I'd like to turn it over back to JW for our Q&A session. JW? Heather, thank you. We couldn't be more excited about where we're going and and all that we're doing here at VENU.
JW Roth: Heather, thank you. We couldn't be more excited about where we're going and all that we're doing here at VENU. We are building, literally, we are building a machine that will change and disrupt music. Again, I appreciate Heather and Will participating here. Now we'll open it up for questions. Operator?
J W: Thank you.
Heather Atkinson: We couldnt be more excited about where we're going in and all that we're doing here at venue. We are building literally we are building a machine that will change a disrupt music. So again I appreciate the Heather and Ed will participating here now we'll open it up for questions operator.
J.W. Robb: We are building, literally, we are building a machine that will change and disrupt music. So, again, I appreciate Heather and Will participating here.
J.W. Robb: Now, we'll open it up for questions.
Operator: Thank you. We will now begin the question and answer session. If you have dialed in and would like to ask a question, please press star 1 on your telephone keypad to raise your hand and join the queue. If you would like to withdraw your question, simply press star 1 again. We'll pause just a moment to assemble the queue. We'll take our first question from Martin Calvert. I'm sorry, I apologize. Yes, Martin Calvert at Morgan Stanley.
Operator: Operator? Thank you.
Speaker Change: Thank you we will now begin the question and answer session. If you have dialed in I would like to ask a question. Please press star one on your telephone keypad to raise your hand and join the queue. If you would like to withdraw your question simply press Star One again, we'll pause just a moment to assemble the queue.
Operator: We will now begin the question and answer session. If you have dialed in and would like to ask a question, please press Star 1 on your telephone keypad to raise your hand and join the queue. If you would like to withdraw your question, simply press Star 1 again. We'll pause just a moment to assemble the queue.
Heather Atkinson: We'll take our first question from Martin Calvert. I'm sorry, I apologize. Yes, Martin Calvert at Morgan Stanley. Well, it's Martin Calvert, but it's close. JW, Will, Heather, really good quarter. Amazing news out there. I'm really interested in the Ryan, LLC partnership. I know that you guys have stated you're looking at 250,000 seats in 5 years, your projection. Is that going to speed that up? If so, how significantly? Marty, first, thanks for joining. I appreciate your question. I just appreciate the support that you and folks at Morgan Stanley give us. Yeah, the relationship with Ryan, it's fuel on our fire. I mean, it is dramatically accelerating our expansion. Think about this. We add between $100 million and $300 million to our balance sheet with every development agreement. They're committed to bringing us 2 of them a quarter.
Speaker Change: And we'll take our first question from.
Martin Calvert: And we'll take our first question from Martin Gilbert.
Speaker Change: Martin Gilbert I'm, sorry, I apologize yes.
Martin Calvert: I'm sorry, I apologize. Yes, Martin Gilbert at Morgan Stanley.
Speaker Change: Yes, Martin Gilbert at Morgan Stanley.
Martin Calvert: Well, it's Martin Calvert, but it's close. JW, Will, Heather, really good quarter. Amazing news out there. I'm really interested in the Ryan, LLC partnership. I know that you guys have stated you're looking at 250,000 seats in 5 years, your projection. Is that going to speed that up? If so, how significantly?
Speaker Change: Well, it's Martin Calvert, but it's close.
Martin Calvert: Well, it's Martin Calvert, but it's close. JW, Will, Heather, really good quarter. Amazing news out there.
Speaker Change: W. Well had a really good quarter amazing news out there.
J.W. Robb: I'm really interested in the Ryan and company partnership. And I know that you guys stated you're looking at 250,000 seats by in five years, your projection. Is that going to speed that up? And if so, how significantly?
Speaker Change: I'm really interested in the Ryan and company partnership and I know that you guys have steadied youre looking at 250000 seats by.
Speaker Change: Five years, your projection is that going to speed that up.
Speaker Change: And if so how significantly.
JW Roth: Marty, first, thanks for joining. I appreciate your question. I just appreciate the support that you and folks at Morgan Stanley give us. Yeah, the relationship with Ryan, it's fuel on our fire. I mean, it is dramatically accelerating our expansion. Think about this. We add between $100 million and $300 million to our balance sheet with every development agreement. They're committed to bringing us 2 of them a quarter. That's 8 a year. They've just been great partners. At the end of the day, Ryan will add fuel to this fire. At the end of the day, they're going to add about 200% what our original projections were in terms of adding amphitheaters and music halls.
Marty: Marty first thanks for joining I. Appreciate your your question I just appreciate the support that you folks at Morgan Stanley gave us yes.
J.W. Robb: Marty, first, thanks for joining. I appreciate your question, and I just appreciate the support that you and folks at Morgan Stanley give us. Yeah, the relationship with Ryan is fuel on our fire. I mean, it is dramatically accelerating our expansion. Think about this. We add between $100 and $300 million to our balance sheet with every development agreement, and they're committed to bringing us two of them a quarter. That's eight a year. They've just been great partners. So, at the end of the day, Ryan will add fuel to this fire, and at the end of the day, they're going to add about 200% what our original projections were in terms of adding amphitheaters and music halls.
Marty: The relationship with Ryan is its fuel on our fire I mean, it is it is dramatically.
Marty: Celebrating our expansion think about this we add between 100 and $300 million to our balance sheet with every development agreement and they are committed to bringing us.
Marty: Two of them a quarter that's a year.
Heather Atkinson: That's 8 a year. They've just been great partners. At the end of the day, Ryan will add fuel to this fire. At the end of the day, they're going to add about 200% what our original projections were in terms of adding amphitheaters and music halls. Wow. Wow. That's huge. That's huge. It is. It is. It is. I got to tell you, Mayor George Fuller has been not only an advocate from the very beginning. Remember, the reason that we're in McKinney is because of Mayor George Fuller and Ryan. The reason we're in El Paso is because of Ryan and Mayor George Fuller. It's not like they're an unproven commodity. What they have done for us already sort of proves the tempo in which we're going to roll this out. Again, Marty, I'm so grateful for you and thankful for your participation today.
Yes.
Marty: They've just been great partners so.
Marty: At the end of the day, Ryan will will add we will add a few.
Marty: Fuel to this fire and at the end of the day, they're going to add about 200% what our original projections were in terms of adding amp, a theater and music music calls.
Martin Calvert: Wow. Wow. That's huge.
J.W. Robb: Wow, wow, that's huge. That it is, it is, it is.
Speaker Change: Wow Wow that's huge.
JW Roth: That's huge. It is. It is. It is. I got to tell you, Mayor George Fuller has been not only an advocate from the very beginning. Remember, the reason that we're in McKinney is because of Mayor George Fuller and Ryan. The reason we're in El Paso is because of Ryan and Mayor George Fuller. It's not like they're an unproven commodity. What they have done for us already sort of proves the tempo in which we're going to roll this out. Again, Marty, I'm so grateful for you and thankful for your participation today. Buckle up. Here we go.
Marty: It is.
Speaker Change: It is and I got to tell you their boss al has been a not only an advocate from the very beginning and remember the reason that we're in in the kidney is because of their boss Allen Ryan. The reason, we're in El Paso is because of Ryan and they're marked out so its not like theyre, an unproven commodity what they have done for us.
J.W. Robb: And I got to tell you, Mayor Mossau has been a not only an advocate from the very beginning. Remember, the reason that we're in in McKinney is because of of Mayor Mossau and Ryan. The reason we're in El Paso is because of Ryan and Mayor Mossau. So it's not like they're an unproven commodity. What they have done for us already sort of proves the tempo in which we're going to roll this out.
Speaker Change: Already sort of approve the tempo in which we're going to roll. This out so again, Marty I'm. So grateful for you and thankful for your participation today and and buckle up here we go.
J.W. Robb: So, again, Marty, I'm so grateful for you and thankful for your your participation today and and buckle up. Here we go. Thank you and your team JW really appreciate it.
Heather Atkinson: Buckle up. Here we go. Thank you and your team, JW. Really appreciate it. You bet. We'll move next to John Lutz at iHit Industries. Hey, JW. Good to be on the call. Sorry if I have a little wind in the background. I'm on the golf course. All right. There you go. I've been to several concerts at the Ford Amphitheater and loved it last summer. I'm just wondering what kind of new exciting things you might have in the offing for Ford and maybe some of the other venues. Well, John, first, I hope you're hitting them straight today. To answer your question, we're excited about a lot of things. I'm going to start with our expansion plan. Our expansion plan, as it rolls out, is allowing us to add, again, 2 or so new development agreements per Q.
Martin Calvert: Thank you and your team, JW. Really appreciate it.
Speaker Change: Thank you and your team J W. Really appreciate it you bet.
JW Roth: You bet.
Operator: We'll move next to John Lutz at iHit Industries.
Speaker Change: Yes.
Speaker Change: Well move next to Jon Lutz and I hit industries.
John Lutz: We'll move next to John Lutz at IHIT Industries. Hey, J.W. Good to be on the call. Sorry if I have a little wind in the background. I'm on the golf course. All right. There you go.
Jon Lutz: Hey, JW. Good to be on the call. Sorry if I have a little wind in the background. I'm on the golf course. All right.
Speaker Change: Thanks.
Jay W: Hey, Jay that'd be a good to be on the call sorry, if I have a little wind in the background and I'm on the golf course, Alright, there you go.
JW Roth: There you go.
Jon Lutz: I've been to several concerts at the Ford Amphitheater and loved it last summer. I'm just wondering what kind of new exciting things you might have in the offing for Ford and maybe some of the other venues.
John Lutz: Um, I've been to several concerts at the Ford Amphitheater and loved it last summer.
Speaker Change: I've been to several concerts at the Ford amphitheater and loved it last summer I'm, just wondering what kind of new exciting things you might have in the offing for board and maybe some of the other day.
J.W. Robb: I'm just wondering what kind of new exciting things you might have in the offing for Ford and maybe some of the other venues. Well, John, first, I hope you're hitting them straight today. But to answer your question, we are excited about a lot of things.
JW Roth: Well, John, first, I hope you're hitting them straight today. To answer your question, we're excited about a lot of things. I'm going to start with our expansion plan. Our expansion plan, as it rolls out, is allowing us to add, again, 2 or so new development agreements per Q. That's the first thing that we're excited about. The second piece of our excitement focuses on the sale of our Fire Pit Suites. As you can see, we have accelerated that. We believe we can cross a quarter of a billion dollars this year in sales.
Speaker Change: Well, John first I hope you hit them straight today, but.
Speaker Change: To answer your question. We are we are we're excited about a lot of things I'm going to start with the expansion plan our expansion plan as it rolls out.
J.W. Robb: I'm going to start with the expansion plan. Our expansion plan, as it rolls out, is allowing us to add, again, two or so new development agreements per quarter. That's the first thing that we're excited about. The second piece of our excitement focuses on the sale of our fire pit suites. As you can see, we have accelerated that. We believe we can cross a quarter of a billion dollars this year in sales. The new financing metrics and the new financing programs that are falling into place with both banks and, ultimately, the SBA will be fuel to that fire.
Speaker Change: Is allowing us to add again, two or so new development agreements.
Speaker Change: Per quarter.
Heather Atkinson: That's the first thing that we're excited about. The second piece of our excitement focuses on the sale of our Fire Pit Suites. As you can see, we have accelerated that. We believe we can cross a quarter of a billion dollars this year in sales. The new financing metrics and the new financing programs that are falling into place with both banks and ultimately the SBA will be fuel to that fire. When we cap it all off, it all comes down to the fan experience in our venues, adding Vic to the mix here and adding to the ambiance and experience that we have at our venues and our shows. Those are all things that you can expect to watch us grow. Thanks so much, JW. Keep up the good work. Thank you. We'll move next to Wes Gottesman at Raymond James. Hey, JW.
Speaker Change: That's the first thing that we're excited about the second piece of our excitement focuses on the sale of our fire pit suites.
Speaker Change: As you have as you can see we have accelerated that we believe we can cross a quarter of a $1 billion. This year in sales.
JW Roth: The new financing metrics and the new financing programs that are falling into place with both banks and ultimately the SBA will be fuel to that fire. When we cap it all off, it all comes down to the fan experience in our venues, adding Vic to the mix here and adding to the ambiance and experience that we have at our venues and our shows. Those are all things that you can expect to watch us grow.
Speaker Change: The new financing metrics and the new financing programs that are falling into place with both banks and ultimately the SBA.
Speaker Change: Will will be will be fuel to that to that fire and then you know what at the when we when we cap it all off it it all comes down to the fan experience and our in our venues, adding adding Victor the mix year end and adding to the ambiance and experience that we have at our at all.
J.W. Robb: When we cap it all off, it all comes down to the fan experience in our venues. Adding Vic to the mix here and adding to the ambiance and experience that we have at our venues and our shows, those are all things that you can expect to watch us grow. Thanks so much, Steve. Keep up the good work. Thank you.
Our at our venues and our shows.
Speaker Change: Those are all things that you can expect to watch us at watch us grow.
Jon Lutz: Thanks so much, JW. Keep up the good work.
Speaker Change: Thanks, so much.
JW Roth: Thank you.
Speaker Change: Good work.
Operator: We'll move next to Wes Gottesman at Raymond James.
Speaker Change: Thank you.
Speaker Change: Well move next to a Scotsman at Raymond James.
Wes Gottesman: We'll move next to Wes Gottsman at Raymond James.
Wes Gottesman: Hey, JW. How's it going? Wes Gottesman here.
Speaker Change: Hey, GW has it gone wescott, it's been here.
Wes Gottesman: Hey JW, how's it going? Wes Gottesman here. Wes, it's good to have you on. Absolutely, good to be here, thank you.
Heather Atkinson: How's it going? Wes Gottesman here. Wes, it's good to have you on. Absolutely. Good to be here. Thank you. My question for you: so a significant differentiator for VENU is, of course, the Fire Pit Suites, which you've been talking about, which have also had strong momentum over the past few months. On the last call, we heard about the launch of the Fire Suite financing. Can you talk more about that, how it works, and how it's been performing so far? Yeah, good question. Fire Pit Suites drive the development of our business, right? I mean, it's what pushes forward the financing as we move into these new markets. We have been working diligently to expand not only how investors and how fans can purchase Fire Pit Suites, but how they're marketed.
JW Roth: Wes, it's good to have you on.
Speaker Change: Well, that's it's good to have you on.
Wes Gottesman: Absolutely. Good to be here. Thank you. My question for you: so a significant differentiator for VENU is, of course, the Fire Pit Suites, which you've been talking about, which have also had strong momentum over the past few months. On the last call, we heard about the launch of the Fire Suite financing. Can you talk more about that, how it works, and how it's been performing so far?
Speaker Change: Absolutely good to be here. Thank you.
Speaker Change: My question for you. So a significant differentiator for venue is of course, the firepit suites, which you've been talking about which are also had strong momentum over the past few months.
Wes Gottesman: My question for you, so a significant differentiator for VENU is of course the Fire Pit Suites which you've been talking about, which have also had strong momentum over the past few And on the last call, we heard about the launch of the FireSuite Finance. Can you talk more about that, how it works, and how it's been performing so far? Yeah, good question. So, you know, Firepit Suites drive the development of our business, right? I mean, it's what pushes forward the financing as we move into these new markets. And so, we have been working diligently to expand not only how investors and how fans can purchase Firepit Suites, but how they're marketed.
Speaker Change: The last call.
Speaker Change: You heard about the launch of the fire suite financing.
Speaker Change: Can you talk more about that how it works and how it's been performing so far.
JW Roth: Yeah, good question. Fire Pit Suites drive the development of our business, right? I mean, it's what pushes forward the financing as we move into these new markets. We have been working diligently to expand not only how investors and how fans can purchase Fire Pit Suites, but how they're marketed. The first piece of your question sort of is answered with the financing model that we have in place has increased sales about 32% across the board. We expect that to increase over the next quarter or so.
Speaker Change: Yes, good question so.
Speaker Change: <unk> suites drive.
Speaker Change: Drive the development of our business variety I mean, it's what it's what pushes forward the financing as we as we move into these new markets and so we have been working diligently to expand not only.
Speaker Change: How how investors and how fans can purchase firepit suites, but.
Heather Atkinson: The first piece of your question sort of is answered with the financing model that we have in place has increased sales about 32% across the board. We expect that to increase over the next quarter or so. Additionally, we're expanding beyond the markets where we're building and into markets where investors can participate in owning Fire Pit Suites. In other words, a triple-net investor that typically buys, let's say, a Walgreens, who lives in Green Bay, Wisconsin, can now buy a triple-net product of ours in the form of a Fire Pit Suite in one of our markets and never attend a show, kick that Fire Pit Suite back to us, let us manage that Fire Pit Suite, and produce a triple-net return for him that averages in that 11 to 12% cap rate. Fantastic. Thank you. You bet.
Speaker Change: But how their marketing so the first and the first piece of your question sort of.
J.W. Robb: So, the first piece of your question sort of is answered with the financing model that we have in place. It's increased sales about 32% across the board. We expect that to increase over the next quarter or so. Additionally, we're expanding beyond the markets where we're building and into markets where investors can participate in owning Firepit Suites. So, in other words, a TripleNet investor that typically buys, like, let's say, a Walgreens. He lives in Green Bay, Wisconsin, and now buy a TripleNet product of ours in the form of a Firepit Suite in one of our markets and never attend a show.
Speaker Change: Is answered with the with the with the financing model that we have in place is increased sales about 32%.
Speaker Change: Across the board, we expect that to increase over the next quarter or so Additionally, we're expanding beyond the markets, where we're building.
JW Roth: Additionally, we're expanding beyond the markets where we're building and into markets where investors can participate in owning Fire Pit Suites. In other words, a triple-net investor that typically buys, let's say, a Walgreens, who lives in Green Bay, Wisconsin, can now buy a triple-net product of ours in the form of a Fire Pit Suite in one of our markets and never attend a show, kick that Fire Pit Suite back to us, let us manage that Fire Pit Suite, and produce a triple-net return for him that averages in that 11 to 12% cap rate.
Speaker Change: And into markets, where investors can participate in owning firepit suites. So in other words, a triple net investor that typically buys like let's say a walgreens he lives in Green Bay, Wisconsin, and now by a triple net.
Speaker Change: Product of ours in the form of fire pit suite, and one of our markets and never agenda show kicked that fire pits suite backed us, let us manage that fire pit suite.
J.W. Robb: Kick that Firepit Suite back to us. Let us manage that Firepit Suite and produce a TripleNet return for him that averages in that 11% to 12% capital.
Speaker Change: And produce a triple net return.
Speaker Change: For him that averages in that 11% to 12% GAAP rate.
Wes Gottesman: Fantastic. Thank you.
J.W. Robb: Fantastic. Thank you. You bet.
Speaker Change: Fantastic. Thank you.
JW Roth: You bet.
Speaker Change: Beth.
Heather Atkinson: We'll go next to Pete D'Arruda at Broadcasting Experts. Hey, JW. I saw you recently announced a partnership with Sands Investment Group to launch the NNN Real Estate Opportunities at VENU. How does this fit into the broader development strategy at VENU? I appreciate your time. Pete, thanks for calling in. Again, I appreciate your support of all that we do here. I look at it as a way to expand the market of condo or, let's say, Fire Pit Suite owners. Right now, when we started this business, the bulk of Fire Pit Suite owners were owners in the market.
Operator: We'll go next to Pete D'Arruda at Broadcasting Experts.
Speaker Change: And we'll go next to Peter Buda at broadcasting aspect.
Pete Daruda: and we'll go next to Pete Daruda at Broadcasting Experts. Hey, JW. I saw you recently announced a partnership with Sands Investment Group to launch the NNN Real Estate Opportunities at VENU. How does this fit into the broader development strategy at VENU? And I appreciate your time.
Pete D'Arruda: Hey, JW. I saw you recently announced a partnership with Sands Investment Group to launch the NNN Real Estate Opportunities at VENU. How does this fit into the broader development strategy at VENU? I appreciate your time.
Peter Buda: Hey, J W. I saw you recently announced the partnership with Sands investment group to watch the end end and real estate opportunities that venue.
Speaker Change: How does this fit into the broader development strategy at venue and I appreciate your time.
JW Roth: Pete, thanks for calling in. Again, I appreciate your support of all that we do here. I look at it as a way to expand the market of condo or, let's say, Fire Pit Suite owners. Right now, when we started this business, the bulk of Fire Pit Suite owners were owners in the market. As we continued to grow and build our venues, we realized that there were investors across the US that wanted to own these Fire Pit Suites like they would own a triple-net real estate investment outside of the markets where they live.
J.W. Robb: Pete, thanks for calling in. Again, I appreciate your support of all that we do here. I look at it as a way to expand the market of condo or, let's say, fire pit suite owners. Right now, when we started this business, the bulk of fire pit suite owners were owners in the market. And as we continued to grow and build our venues, we realized that there were investors across the U.S. that wanted to own these fire pit suites like they would own a triple net real estate investment outside of the markets where they live. And so we did a bunch of research, and at the end of the day, SANS bubbled to the top as one of the best triple net platforms in the country.
Speaker Change: Please thanks for thanks for calling in and again I appreciate your support of all that we do here.
Speaker Change: I look at it as a way to expand.
Speaker Change: The market of of condo or let's say Firepit suite owners right now when we started this when we started this business the bulk of Firepit suite owners, we're owners in the market.
Heather Atkinson: As we continued to grow and build our venues, we realized that there were investors across the US that wanted to own these Fire Pit Suites like they would own a triple-net real estate investment outside of the markets where they live. We did a bunch of research. At the end of the day, Sands Bubble to the Top is one of the best triple-net platforms in the country. We started a conversation with them. At the end of the day, it resulted in us signing a deal with Sands to promote our Fire Pit Suites on their platform. Over the next couple of weeks, you'll see them start to launch these on their platforms. I believe with all my heart that this will become a major way we sell Fire Pit Suites across the US.
Speaker Change: As we continued to grow and build our venues we realized that there were investors across the U S that wanted to own these fire pit suites like they would own a triple net.
Speaker Change: Real estate investment outside of of all of the markets, where they live and so we reached we did a bunch of research and at the end of the day dance bubble to the top as one of the best Triple net Platt.
JW Roth: We did a bunch of research. At the end of the day, Sands Bubble to the Top is one of the best triple-net platforms in the country. We started a conversation with them. At the end of the day, it resulted in us signing a deal with Sands to promote our Fire Pit Suites on their platform. Over the next couple of weeks, you'll see them start to launch these on their platforms. I believe with all my heart that this will become a major way we sell Fire Pit Suites across the US.
Speaker Change: Platforms in the country and so we started up we started a conversation with them.
J.W. Robb: And so we started a conversation with them, and at the end of the day, it resulted in us signing a deal with SANS to promote our fire pit suites on their platforms. So over the next couple of weeks, you'll see them start to launch these on their platforms. And I believe with all my heart that this will become a major way we sell fire pit suites across the U.S., and it'll be a big accelerator as we expand our market. That's awesome. Appreciate it.
Speaker Change: And at the end of the day it resulted in US signing a deal with sands to promote our fire pit suites on their platform. So over the next couple of weeks Youll see them start to launch these on their platforms and I believe with all my heart that this will this will become a major.
Speaker Change: Way, we sell Firepit suites across the U S and it'll be a big accelerator.
Heather Atkinson: It'll be a big accelerator as we expand our markets. That's awesome. Appreciate it. You bet. With no further questions in the queue, that concludes our conference call for today. Thank you so much for your participation. You may now disconnect.
JW Roth: It'll be a big accelerator as we expand our markets.
Speaker Change: As we expand our markets.
Pete D'Arruda: That's awesome. Appreciate it.
Speaker Change: That's awesome appreciate it.
JW Roth: You bet.
Operator: With no further questions in the queue, that concludes our conference call for today. Thank you so much for your participation. You may now disconnect.
J.W. Robb: Be back.
Speaker Change: You bet.
Speaker Change: With no further questions in the queue that concludes our conference call for today. Thank you. So much for your participation you may now disconnect.
Operator: With no further questions in the queue, that concludes our conference call for today. Thank you so much for your participation. You may now disconnect.
Speaker Change: [music].
Operator: Thanks for watching!