Hall of Fame Resort & Entertainment Company (NASDAQ:HOFV) Q3 2022 Earnings Call Transcript

And so we’ve continued to do that. I can’t really comment on how it would work, if we were to get a sponsor in similar categories of Johnson Controls, that would have to also be part of the mediation process and we’d have to understand how that would work in the context of the existing agreement.

David Marsh: Great. And then just lastly, I think in the last quarter call you guys had guided a little bit more precisely to revenue in the $20 million range and EBITDA loss in the $20 million range for the year. The guidance was a little bit more opaque and I understand with €“ just with market conditions and labor conditions and all of that. But is there any way that you guys could fine tune that a little bit or just reiterate or let us know what your thoughts are with regard to a comparison to the guidance in Q2?

Benjamin Lee: Yes. Dave, this has Ben. Yes, I can cover that one for you. So yes, that’s where we guided previously. We came off of that just a little bit because of seasonality here in 4Q. So we expected to have a couple of more events lined up for 4Q coming off, what you see is a very, very strong third quarter. So slightly below that you’ll see similar to an uptick in what we had in 4Q last year, which put us somewhere between 17 and high teens this year for full year, and then of course, as we look to next year very strong growth in 2023 versus 2022.

Michael Crawford: Yes. And the only thing I would add, I think that’s very well said. And you sort of said this David. And I think as we add new assets and as we start to diversify where revenue comes from selling media, selling partnerships, creating bigger events, these things are coming on a more ad hoc basis now, as an example, our Center for Performance. We’ve now been approached by multiple outside entities to host bigger events in there that we couldn’t have anticipated two weeks ago even. So it’s a very fluid and dynamic environment that we’re facing. I am encouraged though about inflation moderating. I am encouraged about the fact that consumers are still spending on experiences, even though, they may be laying off the big ticket item purchases. And so for regional destinations and great experiences virtually in terms of gaming and media, I think that there is going to be a net positive for us is we move throughout this year and into 2023.

David Marsh: Sounds great, guys. Thanks so much for taking the questions, and again, congrats on the great momentum and progress.

Michael Crawford: Thank you.

Benjamin Lee: Thank you.

Operator: Thank you. At this time, I’d now like to turn the floor back over to management for closing remarks.

Anne Graffice: Thank you. We do have a few other questions that I’m going to share with the group. The first being coming in saying or asking rather, why are you using the ATM at current prices? Can you give a little bit more of an explanation surrounding that process?