Dec 17, 2024
The company behind the Ford Amphitheater in Colorado Springs reached a major milestone late last month when it went public, unveiling more details on plans to expand in other states this week.The CEO and Founder of VENU, JW Roth, spoke with excitement in his voice detailing the historic moment for his company when it joined the New York Stock Exchange (NYSE) and the future ahead."It was a big deal for us," Roth said with a smile. "I mean, it was a little bit like spiking the football, right? It was huge for our shareholders, huge for our company. It's big for our family."VENU focuses on live music and luxury entertainment experiences, ownership stating they are fan-founded and fan-owned."When you're going to be fan-owned... you're you're taking on a responsibility, and there's an accountability that comes with that," Roth added. "We've accepted that accountability, and we're excited about it."VENU was founded in 2017 with Bourbon Brothers Smokehouse & Tavern and The Hall at Bourbon Brothers, before expanding to Georgia. The biggest moment came with the opening of Ford Amphitheater on the north side of Colorado Springs in August. Now the public is able to take ownership with Venu Holding Corporation. Roth admitted he spent the first few days checking the stock price religiously."We've had a lot of calls from Rolling Stone to Billboard to the Wall Street Journal," Roth said from his office just off of Research Parkway in Colorado Springs not far from Ford Amphitheater. "It was fun to be able to represent our city and the City of Colorado Springs as a company that is proudly going on the New York Stock Exchange."The Ford Amphitheater wrapped up its inaugural season with a show headlined by Godsmack in mid-October. A season that didn't come without controversy. Hundreds of noise complaints were filed with the City of Colorado Springs in the North Gate area over the course of several months, some residents saying their home values are taking a hit. Some people told News 5 they even considered moving because of the noise. The City of Colorado Springs commissioned a sound study on the amphitheater and released the results in November. The venue was given special permission by the city, and the city reports the company is meeting requirements put in place when it comes to noise. The City of Colorado Springs is hosting a listening session tied to the noise issues on Tuesday night at 6:30 p.m. at The Classical Academy. As of Monday night, about 200 people had registered to attend. Roth said he also plans on attending.Roth added they are in sort of the final throws of the next set of mitigation for noise, both from an AV standpoint and from the physical side, expecting to file "You know, people ask me all the time about mitigation efforts that we put in this," Roth stated. "In every market that you go to, there is a period of time where the community and the company learn together, and there's a lot of things that you learn. You learn parking, you learn traffic, you learn noise, you learn all of those things, and you learn the mitigation steps that it's going to take to make both sides happy." The Colorado Springs Chamber & EDC reported the Ford Amphitheater is expected to have an economic impact of $1 billion for the city over the next decade. VENU is growing beyond Colorado Springs as it expects to have four other amphitheaters open before 2027, two in Texas and two in Oklahoma. The company has already broken for Sunset at Broken Arrow, Roth discussing the benefits of going public as he expands VENU's footprint."First and foremost, it just creates liquidity for our stakeholders and all of the people that have been involved from the beginning," said Roth. "But beyond that, it gives you the ability to access capital markets. When you're doing projects like we're doing, you know, when we're we're approaching a billion dollars worth of construction underway... It takes a, it takes a hefty concentration on capital formation."VENU shared additional details on the four upcoming amphitheaters that you can see below."We're super excited about the 2025 season, Roth said as the interview was wrapping up. "God's good, right?"FROM VENU ON UPCOMING ENTERTAINMENT COMPLEXES:McKinney, Texas (Dallas Market) Click here to learn more. Expected to Open 2026 Capacity: 20,000 fans Estimated Cost of Development: $220,000, 000 Average Shows Per Year: 40-50 Luxury Fire Pit Suite Units for Investment: 295 Aikman Club Memberships: 350El Paso, Texas Click here to learn more. Expected to Open 2026 Capacity: est. 12,500 fans Estimated Cost of Development: est. $105,000,000 Average Shows Per Year: est. 40-50 Luxury Fire Pit Suite Units for Investment: est. 202 Aikman Club Memberships: est. 175Broken Arrow, Oklahoma (Tulsa Market) Click here to learn more. Expected to Open 2025 Capacity: 12,500 fans Estimated Cost of Development: $93,000,000 Average Shows Per Year: 40-50 Luxury Fire Pit Suite Units for Investment: 202 Aikman Club Memberships: 175Oklahoma City Market location in progress. Click here to learn more. Capacity: est. 12,500 fans Estimated Cost of Development: est. $105,000,000 Average Shows Per Year: est. 40-50 Luxury Fire Pit Suite Units for Investment: est. 202 Aikman Club Memberships: est. 175 Source: Venu Holding Corporation____Watch KOAA News5 on your time, anytime with our free streaming app available for your Roku, FireTV, AppleTV and Android TV. Just search KOAA News5, download and start watching.
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