CORRECTING and REPLACING Hall of Fame Resort & Entertainment Company Provides Investor Update

CANTON, Ohio--(BUSINESS WIRE)--In Conference Call Details, the Live Call Dial-In number of release dated August 10, 2020, should read: 1-888-317-6016 (instead of 1-877-317-6016).

The updated release reads: 

HALL OF FAME RESORT & ENTERTAINMENT COMPANY PROVIDES INVESTOR UPDATE

The Hall of Fame Resort & Entertainment Company (“HOFV” or the “Company”) (NASDAQ: HOFV), the only resort, entertainment and media company centered around the power of professional football and owner of the Hall of Fame Village powered by Johnson Controls in Canton, Ohio, today announced it has posted an updated investor presentation to its website: www.hofreco.com. Reflecting that the second quarter ended June 30, prior to the July 1 business combination described below, the Company filed a quarterly report on Form 10-Q containing Q2 financial statements of its predecessor issuer, the former Gordon Pointe Acquisition Corp., as well as (ii) a Current Report on Form 8-K amendment, containing Q2 financial statements of HOF Village, LLC, and Q2 pro forma financial statements, giving pro forma effect to the business combination.

“This quarter marked an exciting beginning for the Hall of Fame Resort & Entertainment Company,” said HOFV Chief Executive Officer Michael Crawford. “We have continued to charge ahead with plans for our multichannel platform, announcing exciting partnerships and sponsorships, acquiring stakes in high-growth youth sports and fantasy football verticals, and advancing the construction of our destination. While we have a lot of work ahead of us, I could not be more confident in our team, our partners and our strategy, and look forward to providing football fans and investors with updates on our progress over the next few years.”

Company Highlights:

• We Became a Public Company In early July, the company that owned the Hall of Fame Village powered by Johnson Controls merged with a special purpose acquisition company (SPAC), which we refer to as the business combination, to take the company public, creating the Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV).
• Development Underway The Company has added to its on-campus assets, Tom Benson Hall of Fame Stadium and the National Youth Football and Sports Complex, with the acquisition and renovation of the Hilton DoubleTree hotel in downtown Canton, Ohio. Today, the company is working with multiple financial partners to finalize funding for the development of The Constellation Center for Excellence, the Hall of Fame Premium Hotel, the Hall of Fame Waterpark, Hall of Fame Retail Promenade and the Center for Performance.
• Diversified Revenue Streams with Acquisitions in Complimentary, High-Growth Markets The Company acquired a majority interest in The Crown League, a professional football fantasy league, and 100 percent of Youth Sports Management LLC.
• Cemented Cornerstone Partnership with the NFL Alumni Association The NFL Alumni Association headquarters and the NFL Alumni Academy complex are moving to the Hall of Fame Village powered by Johnson Controls, along with additional youth and player programming.
• Recognized by the President’s Sports Council for Leadership in Youth Sports Programing and Wellness

The Company will host a conference call and audio webcast on Tuesday, August 11, 2020, beginning at 8:30 a.m. ET, to provide commentary on the business.

Dial-in instructions for the conference call and the replay are outlined below. This conference call will also be available through the “Investor Relations” section of the HOFV website, www.HOFREco.com. A replay of the webcast will be archived shortly after the call on the Company’s website.

Conference Call Details

Live Call
Dial-In (Toll Free): 1-888-317-6016
International Dial-In: 1-412-317-6016

Conference Replay*
Domestic Dial-In (Toll Free): 1-877-344-7529
International Dial-In: 1-412-317-0088
Canada Dial-In (Toll Free): 1-855-669-9658
Replay Access Code: 10147047

*Available one hour after the end of the conference call through November 11, 2020.

About the Hall of Fame Resort & Entertainment Company

The Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV) is a resort and entertainment company leveraging the power and popularity of professional football and its legendary players in partnership with the Pro Football Hall of Fame. Headquartered in Canton, Ohio, the Hall of Fame Resort & Entertainment Company is the owner of the Hall of Fame Village powered by Johnson Controls, a multi-use sports, entertainment and media destination centered around the Pro Football Hall of Fame's campus. Additional information on the Company can be found at www.HOFREco.com.

Forward-Looking Statements

Certain statements made herein are “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words and phrases such as “plans”, “strategy”, “look forward”, “updates”, and “projects” and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements reflect the current analysis of existing information and are subject to various risks and uncertainties. As a result, caution must be exercised in relying on forward-looking statements. Due to known and unknown risks, our actual results may differ materially from our expectations or projections. The following risks and uncertainties, among others, could cause actual results to differ materially from those described in these forward-looking statements: the impact of the Coronavirus on HOFV; the failure to achieve the assumptions underlying certain of the financial projections included within the investor presentation including, among others, securing the timely financing for, and achieving construction of, the second phase of the project within assumed timeframes and financial budget, and achieving expected attendance and occupancy rates; changes in applicable laws or regulations; the ability of HOFV to meet its financial and strategic goals, due to, among other things, the ability of the company to grow and manage growth profitability, maintain relationships with customers and retain its key employees; the possibility that the company may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties described herein, as well as those risks and uncertainties discussed from time to time in our reports and other public filings with the SEC.