Hall of Fame Village LLC Receives Multimillion Dollar Funding through Constellation's Efficiency Made Easy® Program

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Hall of Fame Resort & Entertainment Company

Jul 08, 2024, 08:30 ET

CANTON, Ohio, July 8, 2024 /PRNewswire/ -- Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV, HOFVW) (the "Company"), the only resort, entertainment and media company centered around the power of professional football, today announces it has secured multimillion-dollar funding from Constellation to implement energy efficiency measures and to support the construction and development of the Gameday Bay Waterpark as part of the Phase II asset master development plan of the Hall of Fame Village in Canton, Ohio.

Constellation, the nation's largest producer of carbon-free energy, a leading supplier of energy products and services, and the official energy provider of the Hall of Fame Village and the Pro Football Hall of Fame is providing $9.9 million in financing through its Efficiency Made Easy® ("EME") program, enabling the Hall of Fame Village to install energy-efficient technology and systems. Constellation has employed its EME program over the course of the development on two other occasions allowing for infrastructure development that is designed to reduce energy consumption, creating a more sustainable footprint to advance energy efficiency throughout the resort.

"We continue to be grateful to Constellation for their tremendous collaboration, one that has demonstrated great impact not only to our Company, but to the economic landscape of our region," shared President & CEO Michael Crawford. "This type of lending program serves two priorities for Hall of Fame Resort & Entertainment Company. The first being continued construction financing and the second making energy efficiency a priority for our Company's goals around our corporate sustainability initiatives."

About Hall of Fame Resort & Entertainment Company
Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV, HOFVW) 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 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 "plan," "opportunity," "future," "will," "goal," "enable," "pipeline," "transition," "move forward," "towards," "build out," "coming" , "commitment" and "look forward" and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements are not guarantees of future performance, conditions, or results, and involve a number of known and unknown risks, uncertainties, assumptions, and other important factors, many of which are outside the Company's control, which could cause actual results or outcomes to differ materially from those discussed in the forward-looking statements. Important factors that may affect actual results or outcomes include, among others, the Company's ability to manage growth; the Company's ability to execute its business plan and meet its projections, including obtaining financing to construct planned facilities and for working capital; litigation involving the Company; changes in applicable laws or regulations; general economic and market conditions impacting demand for the Company's products and services, and in particular economic and market conditions in the resort and entertainment industry; increased inflation; the inability to maintain the listing of the Company's shares on Nasdaq; and those risks and uncertainties discussed from time to time in our reports and other public filings with the SEC. The Company does not undertake any obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

SOURCE Hall of Fame Resort & Entertainment Company