Venu Holding Corporation Finalizes Land Acquisition for $100M, Multi-Season Amphitheater in El Paso, TX
The $100 million development is set to be built as part of a public-private partnership between VENU and the City of El Paso. Situated within the vibrant Cohen Entertainment District in Northeast El Paso, the state-of-the-art venue will sit at the base of the Franklin Mountains and is poised to become a regional landmark, attracting music fans from across the Southern United States and Northern Mexico.
'Here we go!' says J.W. Roth, Founder and CEO of VENU. 'A huge thank you to Mayor Johnson and the El Paso City Council for their diligence and support throughout this process. We're excited to officially plant roots and bring this unparalleled entertainment destination to El Paso.'
"This is a major milestone for El Paso. The Sunset Amphitheater will be a destination unlike any other in our region—one that showcases our city's unique landscape while driving economic growth, creating jobs, and bringing world-class entertainment to the borderland. We are proud to partner with VENU on a project that will redefine what's possible in Northeast El Paso,' said City of El Paso Mayor Renard U. Johnson.
Backed by a $31.5 million performance-based incentive package from the City of El Paso, Sunset Amphitheater at El Paso is anticipated to open in 2026 and projected to generate more than $2 billion in economic impact in the first 10 years of operation—fueling job creation, tourism, and long-term prosperity across the region.
About Venu Holding Corporation
Venu Holding Corporation ("VENU") (NYSE American: VENU), founded by Colorado Springs entrepreneur and 2023 VenuesNow All-star, J.W. Roth, is a premier hospitality and live music venue developer dedicated to crafting luxury, artist-centric, experience-driven entertainment destinations. VENU's campuses in Colorado Springs, Colorado, and Gainesville, Georgia, each feature Bourbon Brothers Smokehouse and Tavern, The Hall at Bourbon Brothers, and unique to Colorado Springs, Notes Eatery and the 9,570-seat Ford Amphitheater. Expanding with new multi-season Sunset Amphitheaters in Oklahoma and Texas, VENU's upcoming large-scale venues will host between 12,500 and 20,000 guests, continuing VENU's vision of redefining the premium live entertainment experience. Click here to view our company overview.
VENU has been recognized nationally by The Wall Street Journal, The New York Times, Denver Post, Billboard, VenuesNow, and Variety for its innovative and disruptive approach to live entertainment. Through strategic partnerships with industry leaders such as AEG Presents and NFL Hall of Famer and Founder of EIGHT Elite Light Beer, Troy Aikman, VENU continues to shape the future of the entertainment landscape. For more information, visit venu.live
Forward-Looking Statements
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Fox News
2 hours ago
- Fox News
Chiefs legend Derrick Johnson reflects on Travis Kelce's 2016 dating show, Taylor Swift relationship
Former Kansas City Chiefs star Derrick Johnson tells Fox News Digital that the team used to "tease" Travis Kelce for his dating show "Catching Kelce" in 2016, which only lasted one season.
Fox News
2 hours ago
- Fox News
Chiefs players 'teased' Travis Kelce in locker room for 2016 dating show, Derrick Johnson says
There was a time when Travis Kelce's dating life was the subject of entertainment media, even without Taylor Swift. In 2016, the Kansas City Chiefs tight end had his own dating show, "Catching Kelce," on which he tried out dating 50 women, one from each state, in an attempt to find a girlfriend. The show lasted one season. Kelce's former teammate, Chiefs all-time tackle leader Derrick Johnson, told Fox News Digital how the locker room reacted to Kelce's dating show. "He tried not to [talk about the show in the locker room] but we kind of teased him at times, because when you're playing for Andy Reid, there's no distractions. You got to do your job and do it at a high level. So we were aware of the show in the locker room. We'd throw different stuff out there. But when it came to football, it was all business," Johnson said. Kelce turned 27 in October 2016 when the show aired, overlapping with that year's NFL season. The tight end was in the midst of his first 1,000-yard receiving season and second-of-10-straight Pro Bowl seasons. And while the teasing for the show came in the locker room, Johnson says the team's veterans also respected the younger Kelce's abilities when it came to dating. "He had that taken care of. Good or bad, that's the area that he needs no help in," Johnson said. The show's first and only season ended with Kelce choosing a contestant from Kentucky, Maya Benberry, as his girlfriend. However, by 2017, Kelce was reported to have begun dating his next girlfriend, model Kayla Nicole. Kelce and Nicole reportedly dated for five years up until May 2022. Once Kelce began his relationship with Swift in 2023, Johnson took notice. "He outkicked his coverage. Taylor's big time," Johnson said. "Kelce's big time as well, football-wise, but she is globally. So they're definitely a power couple." Johnson left the Chiefs for the rival Raiders for his final season in 2018, but his lasting influence preceded the team's historic dynasty and three Super Bowl wins, with five total trips to the big game, from 2019 to February 2024. Johnson was famously a team leader on defense in the early years of Kelce's career. "None of us knew who he could really be. He probably didn't know it at all either. And once he got going after his second year, third year, I was like, 'This guy is the man!'" Johnson said.
Business Wire
3 hours ago
- Business Wire
Southland Announces Second Quarter 2025 Results
GRAPEVINE, Texas--(BUSINESS WIRE)--Southland Holdings, Inc. (NYSE American: SLND and SLND WS) ('Southland'), a leading provider of specialized infrastructure construction services, today announced financial results for the quarter ended June 30, 2025. Revenue of $215.4 million for the quarter ended June 30, 2025, compared to $251.5 million for the quarter ended June 30, 2024. Gross profit of $13.4 million for the quarter ended June 30, 2025, compared to $40.0 million in gross loss for the quarter ended June 30, 2024. Gross profit margin of 6.2% for the quarter ended June 30, 2025, compared to (15.9)% gross profit margin for the quarter ended June 30, 2024. Net loss attributable to stockholders of $10.3 million, or $(0.19) per share for the quarter ended June 30, 2025, compared to a net loss attributable to stockholders of $46.1 million, or $(0.96) per share for the quarter ended June 30, 2024. EBITDA of $4.2 million for the quarter ended June 30, 2025, compared to $(49.9) million for the quarter ended June 30, 2024. (1) Backlog of $2.32 billion. (1) (1) Please refer to 'Non-GAAP Measures' and reconciliations for our non-GAAP financial measures, including, 'EBITDA' and 'Backlog' Expand "We continue to be encouraged by the sustained margin improvement in our core business resulting from our disciplined approach to bidding and operations," said Frank Renda, Southland's President & Chief Executive Officer. "As we move into the second half of the year, our outlook remains positive. With IIJA and other government spending initiatives in full swing, we are well-positioned to win our fair-share of the opportunities ahead of us." 2025 Second Quarter Results (1) Basic net loss per share is the same as diluted net loss per share attributable to common stockholders for the three months ended June 30, 2025, and June 30, 2024, because the inclusion of potential shares of common stock would have been anti-dilutive for the period presented. Expand Revenue for the three months ended June 30, 2025, was $215.4 million, a decrease of $36.1 million, or 14.4%, compared to the three months ended June 30, 2024. Materials & Paving business contributed $21.7 million to revenue in the three months ended June 30, 2025. Gross profit for the three months ended June 30, 2025, was $13.4 million compared to gross loss of $40.0 million for the three months ended June 30, 2024. Gross margin increased from (15.9)% to 6.2% for the three months ended June 30, 2025, compared to the three months ended June 30, 2024. Materials & Paving business negatively impacted gross profit by $3.8 million in the three months ended June 30, 2025. Selling, general, and administrative costs for the three months ended June 30, 2025, were $13.6 million, a decrease of $2.1 million, or 13.4%, compared to the three months ended June 30, 2024. Selling, general, and administrative costs as a percent of revenue were 6.3% for the three months ended June 30, 2025, compared to 6.2% for the three months ended June 30, 2024. (1) Basic net loss per share is the same as diluted net loss per share attributable to common stockholders for the six months ended June 30, 2025, and June 30, 2024, because the inclusion of potential shares of common stock would have been anti-dilutive for the period presented. Expand Revenue for the six months ended June 30, 2025, was $454.9 million, a decrease of $84.7 million, or 15.7%, compared to the six months ended June 30, 2024. Materials & Paving business contributed $39.8 million to revenue in the six months ended June 30, 2025. Gross profit for the six months ended June 30, 2025, was $34.8 million compared to gross loss of $19.6 million for the six months ended June 30, 2024. Gross margin increased from (3.6)% to 7.7% for the six months ended June 30, 2025, compared to the six months ended June 30, 2024. Materials & Paving business negatively impacted gross profit by $12.9 million in the six months ended June 30, 2025. Selling, general, and administrative costs for the six months ended June 30, 2025, were $30.0 million, a decrease of $0.1 million, or 0.1%, compared to the six months ended June 30, 2024. Selling, general, and administrative costs as a percent of revenue were 6.6% for the six months ended June 30, 2025, compared to 5.6% for the six months ended June 30, 2024. Six Months Ended (Amounts in thousands) June 30, 2025 June 30, 2024 % of Total % of Total Segment Revenue Revenue Revenue Revenue Civil $ 184,446 40.5 % $ 163,641 30.3 % Transportation 270,422 59.5 % 375,968 69.7 % Total revenue $ 454,868 100.0 % $ 539,609 100.0 % Expand Segment Gross Profit (Loss) Three Months Ended (Amounts in thousands) June 30, 2025 June 30, 2024 Gross % of Segment Gross % of Segment Segment Profit Revenue Profit Revenue Civil $ 14,605 17.9 % $ 9,160 11.5 % Transportation (1,242) (0.9) % (49,182) (28.6) % Gross profit (loss) $ 13,363 6.2 % $ (40,022) (15.9) % Expand Six Months Ended (Amounts in thousands) June 30, 2025 June 30, 2024 Gross % of Segment Gross % of Segment Segment Profit Revenue Profit Revenue Civil $ 37,236 20.2 % $ 27,030 16.5 % Transportation (2,393) (0.9) % (46,631) (12.4) % Gross profit (loss) $ 34,843 7.7 % $ (19,601) (3.6) % Expand EBITDA Reconciliation Three Months Ended Six Months Ended (Amounts in thousands) June 30, 2025 June 30, 2024 June 30, 2025 June 30, 2024 Net loss attributable to Southland Stockholders $ (10,306) $ (46,077) $ (14,858) $ (46,483) Depreciation and amortization 5,376 5,572 11,901 11,149 Income tax benefit (61) (15,961) (374) (15,654) Interest expense 9,983 6,720 18,857 12,375 Interest income (802) (176) (1,252) (360) EBITDA 4,190 (49,922) 14,274 (38,973) Expand Backlog (Amounts in thousands) Balance December 31, 2024 $ 2,572,912 New contracts, change orders, and adjustments 203,259 Less: contract revenue recognized in 2025 (454,868) Balance June 30, 2025 $ 2,321,303 Expand Condensed Consolidated Balance Sheets (unaudited) (Amounts in thousands, except share and per share data) As of ASSETS December 31, 2024 Current assets Cash and cash equivalents $ 46,517 $ 72,185 Restricted cash 16,779 15,376 Accounts receivable, net 158,134 179,320 Retainage receivables 115,529 112,264 Contract assets 500,520 483,181 Other current assets 29,704 19,326 Total current assets 867,183 881,652 Property and equipment, net 108,437 116,328 Right-of-use assets 10,135 14,897 Investments - unconsolidated entities 132,541 126,705 Investments - limited liability companies 2,590 2,590 Investments - private equity 2,580 2,699 Deferred tax asset 57,396 54,531 Goodwill 1,528 1,528 Intangible assets, net 1,180 1,180 Other noncurrent assets 1,698 1,539 Total noncurrent assets 318,085 321,997 Total assets $ 1,185,268 $ 1,203,649 LIABILITIES AND EQUITY Current liabilities Accounts payable $ 221,818 $ 191,670 Retainage payable 33,662 33,622 Accrued liabilities 75,459 91,515 Current portion of long-term debt 48,895 44,525 Short-term operating lease liabilities 5,886 10,104 Contract liabilities 250,942 249,706 Total current liabilities 636,662 621,142 Long-term debt 229,728 255,625 Long-term operating lease liabilities 9,952 10,791 Deferred tax liabilities 3,138 292 Financing obligations, net 41,476 41,468 Long-term accrued liabilities 58,075 58,075 Other noncurrent liabilities 40,769 40,847 Total long-term liabilities 383,138 407,098 Total liabilities 1,019,800 1,028,240 Commitment and contingencies (Note 6) Stockholders' equity Preferred stock, $0.0001 par value, authorized 50,000,000 shares, none issued and outstanding as of June 30, 2025 and December 31, 2024 — — Common stock, $0.0001 par value, authorized 500,000,000 shares, 54,113,036 and 53,936,411 issued and outstanding as of June 30, 2025 and December 31, 2024, respectively 5 5 Additional paid-in-capital 292,744 292,173 Accumulated deficit (139,476) (124,618) Accumulated other comprehensive loss (2,156) (3,902) Total stockholders' equity 151,117 163,658 Noncontrolling interest 14,351 11,751 Total equity 165,468 175,409 Total liabilities and equity $ 1,185,268 $ 1,203,649 Expand Condensed Consolidated Statement of Cash Flows (unaudited) Six Months Ended (Amounts in thousands) June 30, 2025 June 30, 2024 Cash flows from operating activities: Net loss $ (12,676) $ (44,830) Adjustments to reconcile net loss to net cash used in operating activities Depreciation and amortization 11,901 11,149 Amortization of deferred financing costs 916 — Loss on extinguishment of debt — 111 Deferred taxes (50) (15,870) Share based compensation 692 1,299 Gain on sale of assets (1,417) (2,855) Foreign currency remeasurement (gain) loss (73) 4 Earnings from equity method investments (1,503) (3,150) TZC investment present value accretion — (2,234) Loss (gain) on trading securities, net (76) 23 Changes in assets and liabilities: Accounts receivable 19,516 (64,672) Contract assets (16,937) 27,398 Other current assets (10,378) 3,181 Right-of-use assets 4,763 1,873 Accounts payable and accrued liabilities 12,328 77,204 Contract liabilities 1,222 31,851 Operating lease liabilities (4,742) (1,608) Other (2,490) (1,340) Net cash provided by operating activities 996 17,534 Cash flows from investing activities: Purchase of property and equipment (2,885) (4,232) Proceeds from sale of property and equipment 3,448 3,206 Contributions to other investments — (13) Distributions from other investments 195 110 Distributions from investees — 4,161 Capital contribution to unconsolidated investments — (250) Net cash provided by investing activities 758 2,982 Cash flows from financing activities: Borrowings on revolving credit facility — 5,000 Payments on revolving credit facility — (5,000) Borrowings on notes payable — 24,678 Payments on notes payable (25,150) (36,910) Payments of deferred financing costs (295) (31) Pre-payment premium — (111) Payments from related parties 4 138 Payments on finance lease and financing obligations (539) (2,656) Payment of taxes related to net share settlement of RSUs (121) (206) Net cash used in financing activities (26,101) (15,098) Effect of exchange rate on cash 82 (69) Net increase (decrease) in cash and cash equivalents and restricted cash (24,265) 5,349 Beginning of period 87,561 63,820 End of period $ 63,296 $ 69,169 Supplemental cash flow information Cash paid for income taxes $ 578 $ 203 Cash paid for interest $ 18,047 $ 11,970 Non-cash investing and financing activities: Lease assets obtained in exchange for new leases $ 10 $ 4,272 Assets obtained in exchange for notes payable $ 3,016 $ 16,009 Related party payable exchanged for note payable $ — $ 3,797 Expand Conference Call Southland will host a conference call at 10:00 a.m. Eastern Time on Wednesday, August 13, 2025. The call may be accessed here, or at Following the conference call, a replay will be available on Southland's website. About Southland Southland is a leading provider of specialized infrastructure construction services. With roots dating back to 1900, Southland and its subsidiaries form one of the largest infrastructure construction companies in North America, with experience throughout the world. The company serves the bridges, tunnelling, communications, transportation, facilities, marine, steel structures, water and wastewater treatment, and water pipeline end markets. Southland is headquartered in Grapevine, Texas. For more information, please visit Southland's website at Non-GAAP Financial Measures This press release includes certain unaudited financial measures not presented in accordance with generally accepted accounting principles ('GAAP'), including but not limited to earnings before interest, taxes, depreciation, and amortization ('EBITDA'), backlog, and certain ratios and other metrics derived therefrom. Note that other companies may calculate these non-GAAP financial measures differently, and therefore such financial measures may not be directly comparable to similarly titled measures of other companies. Further, these non-GAAP financial measures are not measures of financial performance in accordance with GAAP and may exclude items that are significant in understanding and assessing financial results. Therefore, these measures should not be considered in isolation or as an alternative to net income, cash flows from operations or other measures of profitability, liquidity or performance under GAAP. Southland believes that these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to Southland's financial condition and results of operations. Southland also believes that these non-GAAP financial measures provide an additional tool for investors to use in evaluating ongoing operating results and trends. These non-GAAP financial measures are subject to inherent limitations as they reflect the exercise of judgments by management about which items of expense and income are excluded or included in determining these non-GAAP financial measures. Please see the accompanying table for reconciliations of the following non-GAAP financial measures for Southland's current and historical results: EBITDA (non-GAAP financial measures) to net income (loss) attributable to common stock. Forward-Looking Statements This press release contains 'forward-looking statements' within the meaning of the safe harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are neither historical facts nor assurances of future performance. Instead, they are based only on Southland's current beliefs, expectations and assumptions regarding the future of Southland's business, future plans and strategies, projections, anticipated events and trends, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are outside of Southland's control. Southland's actual results and financial condition may differ materially from those indicated in the forward-looking statements. Therefore, you should not rely on any of these forward-looking statements. Any forward-looking statement made by Southland in this press release is based only on information currently available to Southland and speaks only as of the date on which it is made. Southland undertakes no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
