Global Entertainment Subsidiary, JV Operators of Central Hockey League, Enters Independence, Missouri, with CHL Team
16 April 2009 - 9:05PM
Business Wire
Global Entertainment Corporation (NYSE Amex:
GEE) reports that the Central Hockey League (CHL),
administered by one of its wholly owned subsidiary companies, has
announced the placement of a CHL team in Independence, Missouri,
that will participate in the CHL 2009-10 hockey league season.
Approval was received from the Independence City Council on the
team�s lease with the new $55 million Independence Events Center
currently under construction and expected to open in November 2009.
The CHL, currently playing its 17th season with 18 member teams
across 10 states, approved the transfer of the license for the
expansion team from Lubbock, Texas, thereby relocating experienced
team owners and operators with the license transfer.
The world-class design of the 5,800 fixed-seat multi-purpose
events center has an attached practice facility with a second ice
surface that is a much sought-after addition in new arena
development. The project manager for design and construction of the
state-of-the-art facility is Global subsidiary International
Coliseums Company (ICC), which is also the project manager for the
events center concurrently under construction in Allen, Texas, and
also project manager for the events center scheduled in Dodge City,
Kansas. Management projects of this nature contribute revenue over
a 22-month period for Global. The Independence events center, with
26 luxury suites, VIP seating, along with restaurants and lounges,
will have a variety of entertainment attractions that typically
include concerts, trade shows, family shows, youth hockey,
agricultural events and other civic functions.
Richard Kozuback, president and chief executive officer of
Global Entertainment Corporation, stated, �The expansion of Global
into the Independence market, a part of the heartland of our
nation, opens new opportunities for the company and the City of
Independence. The $55 million multi-purpose facility brings its own
energy to Independence and the surrounding communities, making it a
destination spot for entertainment not previously available in the
community. Global and its multiple subsidiary companies offer a
unique service in the development of multi-purpose events centers
for mid-size communities together with a full complement of
diversified services available for support of the long-term
viability of an arena project.�
Global has multiyear agreements for the Independence, Missouri,
facility that will utilize the specialized services of our
subsidiary companies:
- Encore Facility
Management (Encore) will manage all building operations that
includes food service and catering functions.
- Global Entertainment
Marketing Systems (GEMS) will be the licensing and advertising
arm handling all sales and marketing services.
- Global Entertainment
Ticketing (GetTix.Net) will provide exclusive ticketing
services for all events.
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 six 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
(ICC) serves as project manager for arena development while Encore
Facility Management coordinates arena operations. 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: 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-K for the year ended May 31, 2008, as
filed with the Securities and Exchange Commission.
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