Global Entertainment Announces Strategic Partnership with VenuWorks to Manage New Facilities
November 03 2010 - 1:45PM
Business Wire
Global Entertainment Corporation (OTCBB:
GNTP), an integrated event and entertainment company, today
announced an agreement with VenuWorks, a public assembly management
firm, to provide facility management services for the events center
Global is constructing in Dodge City, Kansas, along with future
facilities the company develops.
Global Entertainment has formed a strategic partnership with
VenuWorks in which VenuWorks will provide facility management and
concession management services to Global-built facilities in place
of Global’s Encore Facility Management and GEC Food Service, LLC
subsidiaries. As part of the agreement, Global will continue to
provide event center development, construction and ticketing
services and where appropriate, will provide CHL hockey franchises
and marketing services to these facilities. In addition, Global has
worked with the Dodge City, Kansas, city manager as well as members
from the county and city to finalize the transition of the facility
management contract for the new building being constructed in Dodge
City by Global Entertainment’s wholly owned subsidiary
International Coliseums Company.
VenuWorks is one of the three largest public assembly management
firms in the United States. The company provides management
solutions and consulting expertise for arenas, theaters and
convention centers throughout North America and currently manages
35 separate facilities in 17 communities across the country. In
addition to its facility management services, VenuWorks also
performs feasibility studies, operations audits and consulting work
for clients with existing and prospective public assembly
facilities.
Steve Peters, President of VenuWorks, stated, “Global
Entertainment has demonstrated a strong capacity for developing
well-designed multi-purpose arenas across the country, most of
which have been located in communities that fit very well into our
market profile. By working with Global Entertainment, we can offer
proven ongoing management after the arena is built. ”
Chief Executive Officer of Global Entertainment, Richard
Kozuback, commented, “As part of the review of Global
Entertainment’s business units, our company’s Board of Directors
has determined that our organization has excelled in developing and
building first-class event centers in markets across the country,
completing those facilities on time and within budget, providing
ticketing and marketing services, and delivering CHL franchises as
anchor tenants in the markets that desire them. However, our
company has faced challenges in managing these buildings, and we
have concluded that this is not our core strength.”
Kozuback continued, “Therefore, as part of our continuing
efforts to reassess our current operations to successfully position
Global Entertainment for the future, we recognized the need to
partner with a group who specializes in the facility management
area. We look forward to combining our expertise in arena
development, project management, ticketing, franchising, licensing
and marketing with VenuWorks’ skills in facility management to
create a stronger overall concept going forward.”
Visit our web sites:
www.globalentertainment2000.com
www.centralhockeyleague.com
www.coliseums.com
www.GetTix.net
Global Entertainment Corporation is an integrated events and
entertainment company focused on mid-size communities that is
engaged, through its seven wholly owned subsidiaries, in sports
management, multi-purpose events and entertainment centers and
related real estate development, facility and venue management and
marketing and venue ticketing. Global Properties I, in correlation
with arena development projects, works to maximize value and
develop potential new properties. International Coliseums Company,
Inc. (ICC) serves as project manager for arena development while
Encore Facility Management and GEC Food Service, LLC coordinate
arena operations and concessions. Global Entertainment Marketing
Systems (GEMS) pursues licensing and marketing opportunities
related to the Company’s sports management and arena developments
and operations. Global Entertainment Ticketing (GetTix.Net) is a
ticketing company for sports and entertainment venues. The Western
Professional Hockey League, Inc., through a joint operating
agreement with the Central Hockey League, is the operator and
franchisor of professional minor league hockey teams in nine
states.
Certain statements in this release may be "forward-looking
statements" within the meaning of The Private Securities Litigation
Reform Act of 1995. These forward-looking statements may include
projections of matters that affect revenue, operating expenses or
net earnings; projections of capital expenditures; projections of
growth; hiring plans; plans for future operations; financing needs
or plans; plans relating to the company's products and services;
and assumptions relating to the foregoing.
Forward-looking statements are inherently subject to risks and
uncertainties, some of which cannot be predicted or quantified.
Future events and actual results could differ materially from those
set forth in, contemplated by, or underlying the forward-looking
information.
Some of the important factors that could cause the company's
actual results to differ materially from those projected in
forward-looking statements made by the company include, but are not
limited to, the following: limited liquidity and the need for
additional financing, intense competition within the sports and
entertainment industries, past and future acquisitions, expanding
operations into new markets, risk of business interruption,
changing consumer demands, dependence on key personnel, sales and
income tax uncertainty and increasing marketing, management,
occupancy and other administrative costs.