VENU completes $49.7 million sale-leaseback deal for Ford Amphitheater land

Venu Holding Corporation (NYSE American: VENU) completed a $49.7 million sale-leaseback transaction on the land beneath its Ford Amphitheater in Colorado Springs, Colorado. The transaction was completed with O'Neil Roth Real Estate LLC.

The entertainment venue operator said it plans to list and sell an additional $200 million in comparable sale-leaseback structures across its portfolio of entertainment destinations. The Colorado Springs transaction is part of a $200 million financing plan across VENU's current asset base and development pipeline.

"Nearly fifty million dollars unlocked from land we still control, with a meaningful portion to be redeployed to in-development projects," said JW Roth, founder, CEO and chairman of VENU.

VENU currently operates venues in Colorado Springs, Colorado and Gainesville, Georgia. The company has two venues approaching opening in Broken Arrow, Oklahoma and McKinney, Texas, while projects in Houston and El Paso are under development. The company recently announced a planned location in Chattanooga, Tennessee.

The company uses a financing approach that combines fractional ownership, public-private partnerships, and sale-leaseback structures for expansion. VENU generates revenue through sponsorships, ticketing, premium hospitality, and its Luxe FireSuites program.

The information is based on a company press release statement.

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