Global Entertainment Expands in Home State with New Multi-Purpose Events Center Slated for Yuma, Arizona
23 Julho 2007 - 8:05AM
Business Wire
Global Entertainment Corporation (AMEX: GEE) � a company engaged in
sports management, arena and related real estate development,
facility and venue management and marketing, venue ticketing and
brand licensing � announced today that its plans for expanding its
presence in its home state of Arizona are moving forward with the
City Mayor and Council of Yuma, Arizona unanimously agreeing to
enter into a Phase I Development Agreement with Global Properties I
to formally begin work on a proposed 6,000 fixed seat multi-purpose
events center for their city. The facility is projected to have 22
luxury suites, 2 club suites, restaurants and lounges. The Phase I
Development Agreement provides advanced funding for Global
Properties to move the project forward. Yuma is located close to
the border with California to the west and Mexico to the south. The
area offers a climate that blends desert sunshine with the cool
waters of the Colorado River attracting visitors that double the
population during the winter season and provide a boon for area
businesses. Along with Global Properties I, five other Global
Entertainment (Global) subsidiaries participate in the development
that includes design, opening, managing and marketing the
state-of-the-art multi-purpose events center. International
Coliseums Company heads the design and construction phase. The
Western Professional Hockey League d/b/a the Central Hockey League
(CHL) will award a hockey franchise to serve as the center�s
primary tenant. Encore Facility Management will engage in a
multi-year agreement to manage the building, along with its
licensing and advertising arm, Global Entertainment Marketing
Systems, which will handle all sales and marketing services.
Finally, GetTix will provide exclusive ticketing services for all
events in the Yuma arena. Global has perfected this turnkey
solution for mid-size communities intent on providing a multi-use
entertainment facility for its citizens and the surrounding region.
The facility�s projected opening is autumn of 2009. Steven J.
Bielewicz, president of Global Properties I said, �The City of Yuma
made the commitment that allows us to move forward with this events
center and maintain our timelines. We believe Yuma offers us a
market that will be home to one of the most successful events
centers developed by our Global companies. We take particular
pleasure in working on this development, our second Arizona
multi-purpose events center having opened our first facility in
Prescott Valley in late 2006.� Rick Kozuback, president and chief
executive officer of Global Entertainment commented, �With the
recent announcements of development projects for the cities of
Dodge City, Kansas, Allen, Texas and Independence, Missouri and now
Yuma, Arizona, our past investments in the development of our
cross-revenue generating platform of sister companies is producing
the anticipated results. Our name is gaining in recognition with
each project awarded and we are becoming the developer of choice
for turnkey multi-purpose events centers in mid-sized communities.
We have a strong pipeline in place as well as many additional
target markets under further assessment.� Visit our web sites:
www.globalentertainment2000.com www.centralhockeyleague.com
www.coliseums.com www.Cragar.com www.GetTix.net Global
Entertainment Corporation is an integrated events company focused
on mid-size communities that is engaged through its seven wholly
owned subsidiaries, in sports management, multi-purpose events and
entertainment center and related real estate development, facility
and venue management and marketing, venue ticketing and brand
licensing. 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. International Coliseums Company serves as project
manager for arena development while Encore Facility Management
coordinates all arena facility operations. Global Entertainment
Marketing Systems pursues licensing and marketing opportunities
related to the Company�s sports management and arena developments
and operations. Global Properties I in correlation with arena
development projects works to maximize value and development
potential of new properties. Global Entertainment Ticketing is an
in-house ticketing company for sports and entertainment venues.
Cragar Industries is the licensor for its nationally recognized,
branded products CRAGAR�, TRU-SPOKE�, CRAGAR S/S� and STREET PRO�.
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: intense competition within the sports
and entertainment industries, past and future acquisitions,
expanding operations into new markets, risk of business
interruption, management of rapid growth, need for additional
financing, changing consumer demands, dependence on key personnel,
sales and income tax uncertainty and increasing marketing,
management, occupancy and other administrative costs. These factors
are discussed in greater detail in the company's Annual Report on
Form 10-KSB for the year ended May 31, 2006, as filed with the
Securities and Exchange Commission.
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