Colorado Springs, Colo., Feb 05 — Venu Holding Corporation (“VENU” or the “Company”) (NYSE American: VENU) today announced the successful closing of its $13 million acquisition of a property in Centennial, Colorado, where the Company will develop its first indoor venue to feature Luxe FireSuites. The acquisition marks continued execution of the Company’s strategic expansion across high-demand markets.
VENU plans to complete the entitlement process over the next 180 days and commence construction immediately upon permit issuance. The Centennial venue will bring the company’s proven premium hospitality model, which has driven strong sales and sponsorship revenue at Ford Amphitheater in Colorado Springs, into an indoor format for the very first time.
“Centennial represents a new chapter for VENU,” said JW Roth, Founder, Chairman, and CEO of VENU. “Our FireSuites create a live entertainment experience people can’t get anywhere else, and now we’re bringing that concept to the Denver market year-round. FireSuites are on pace to sell out in the next 75 days, validating both the concept and the market and providing an important source of project financing that reduces our need for capital.”
Development Pipeline Advancing on Multiple Fronts
The Centennial closing comes as VENU continues executing across its broader development portfolio. In Broken Arrow, Oklahoma, construction continues full steam ahead and on schedule. VENU is actively engaged in booking programming and expects to start announcing shows in the next 90 days, a key milestone that will provide visibility into the venue’s inaugural season revenue potential. VENU’s 20,000-seat multi-seasonal amphitheater in McKinney, Texas continues on pace, further extending the Company’s footprint into major metropolitan markets.
“We’re firing on all cylinders,” Roth added. “Centennial is closed, Broken Arrow and McKinney are rising out of the ground, and we’re about to start announcing the artists who will be playing our stages and our key sponsors that will help see these projects through to the finish line. This is what execution looks like.”