Category: Press Releases

B Entertainment working in partnership with City of Gainesville, Georgia & Gainesville Redevelopment Authority to bring world-class music venue and Bourbon Brothers Smokehouse and Tavern to North Georgia

VENU, the entertainment company founded by Colorado Springs businessman J.W. Roth that’s proposed an 8,000-seat outdoor amphitheater on the city’s north side, aims to become a publicly traded company this year as part of a long-term growth strategy that includes multiple new venues.

In an announcement Monday, VENU said it plans to raise $22.5 million through a pre-initial public offering — a sale of stock shares before they’re listed on a public exchange. The company has targeted 1.5 million shares to be sold at $15 per share, it said.

The decision by VENU to go public and sell stock isn’t intended to raise money to fund its current crop of entertainment venues in Colorado Springs and elsewhere, Roth said in an interview before Monday’s announcement.

Instead, issuing stock and raising $22.5 million in capital would allow that money to be added to real estate holdings and other VENU assets — producing a balance sheet of at least $50 million and helping the company qualify to be listed on the national Nasdaq stock exchange, Roth said.

Once on Nasdaq, existing shareholders could sell stock for cash, new shareholders could buy into the company and VENU would have an easier time raising capital down the road as it grows the number of its entertainment venues, Roth said.

VENU plans to operate in a half-dozen markets by the end of 2023 and expand to six additional markets over the next five years, the company says.

VENU, Roth said, already has “internal financing” in place for its $40 million amphitheater, to be called The Sunset, which will be part of the Polaris Pointe mixed-use development southeast of Interstate 25 and North Gate Boulevard in northern Colorado Springs. It’s envisioned as a home for concerts, top-name music performers and entertainment acts.

Roth hopes to obtain permits to begin site preparation work for The Sunset in a few weeks and is targeting a completion of the venue by late summer 2023 so that shows can take place before the end of that year. A full year of amphitheater events would be targeted for 2024, he said.

Roth said he’s already worked to line up additional parking for the amphitheater.

He said he now has agreements in place with Academy School District 20, the Classical Academy charter school and Compassion International ministry to the south and Bass Pro Shops, a nearby Polaris Pointe retail anchor. Their parking lots would provide more than 3,000 off-site spaces for concertgoers, who would be shuttled to the venue, Roth said.

The Sunset amphitheater would join Roth’s nearby Boot Barn Hall at Bourbon Brothers indoor music venue at Polaris Pointe, and his Bourbon Brothers Smokehouse & Tavern and Buttermilk Breakfast & Burgers restaurant.

Roth said VENU also has financing lined up for a multi-million dollar entertainment campus that will cover a city block in downtown Gainesville, Ga., northeast of Atlanta. Construction has started on that project, which is scheduled to open in the first quarter of 2023.

An 18-acre multi-concept project also is funded and planned in Murfreesboro, Tenn., south of Nashville, according to Roth. A Bourbon Brothers Smokehouse and Tavern, a 20,000-square foot Boot Barn Hall and a 4,500-seat outdoor amphitheater would be part of that development.

In its pre-initial public offering, VENU plans to sell shares before Sept. 1 in a private placement and before the company submits an application to the federal Securities and Exchange Commission in the fourth quarter, Roth said.

That application, known as an S-1 form, is part of VENU’s effort to go public and is required so that stock shares can be registered with the SEC and eventually traded publicly. The S-1 also lays out the use of stock sale proceeds, the company’s business model and other financial details, according to online posts by financial experts.

The stock offering for the pre-initial public offering is being handled by Donald Capital, a New York-based investment bank, Roth said. About 500,000 of the 1.5 million shares already have been spoken for by investors and the rest should sell quickly, he predicted.

Gainesville, Georgia, is about to get even more vibrant with the arrival of VENU’s highly anticipated entertainment campus, featuring the impressive Boot Barn Hall music venue and the Bourbon Brothers Smokehouse and Tavern restaurant. The sold-out grand opening weekend, scheduled for July 7th and 8th, will be headlined by chart-topping country singer-songwriter Josh Turner (Friday, July 7th), and Country Music Hall of Famer Ricky Skaggs (Saturday, July 8th).

VENU, the rapidly growing music venue and hospitality company, has chosen Gainesville as its second operating venue, following its successful base in Colorado Springs. Recognizing the need for high-quality music and entertainment venues in markets with growing populations, VENU has plans for expansion across the country. By the end of 2023 or early 2024, they aim to begin construction in six additional markets, with six more planned over the next five years. To facilitate this growth, the company is preparing to initiate a public offering.

Situated just an hour northeast of Atlanta, the Boot Barn Hall in Gainesville is a state-of-the-art complex spanning 14,500 finished square feet. The venue boasts stunning floor-to-ceiling beetle kill pine walls and includes an additional 3,575 square feet of mezzanine seating with 15 private suites. Equipped with a remarkable $1.5 million audio and visual system, the Boot Barn Hall promises an unparalleled concert experience.

Adjoining to the Boot Barn Hall, the Bourbon Brothers Smokehouse and Tavern restaurant will be a haven for food enthusiasts. Its scratch kitchen will serve American classics and Southern staples, featuring the largest smoker in northern Georgia. The restaurant’s waiting space will showcase repurposed pews from the historic local First Methodist Church of Gainesville. Curated through special partnership with Gainesville’s Arts Council. With imaginative two-story architecture and Bourbon Bar stocked with exclusive and rare spirits, the Bourbon Brothers is sure to leave a lasting impression.

The entertainment offerings at the campus will be diverse – this month, for its “soft launch,” local artists have been taking the Boot Barn stage since June 9. The June lineup of exciting home grown GA acts precedes the sold-out grand opening weekend on July 7th and 8th (Josh Turner and Ricky Skaggs, respectively), and, in the future, the campus will welcome other chart topping, renowned national acts year-round.

In 2022, VENU, Inc. announced its expansion into emerging markets, including Colorado Springs, CO; Gainesville, GA; and Murfreesboro, TN. The company prides itself on identifying regions with vibrant, growing populations but lacking high-quality music and entertainment venues. Their commitment to offering premium concert experiences with exceptional sound and sightlines, as well as elevated food and beverage options, has earned them recognition. Two VENU venues were named in Billboard’s “2022 New and Renovated Venues List,” and JW Roth, the founder of VENU, was honored as a “VenuesNow 2022 All Star.”

 

About VENU VENU, founded by Colorado Springs-based entrepreneur JW Roth, is the rapidly growing live-entertainment company that by the end of 2023 will be operating a half dozen large and mid-sized premium music venues across the West and South. The company identifies areas with growing populations but a dearth of high-quality music and entertainment venues and offers premium concert experiences, complete with unbeatable sound and sightlines as well as elevated food and beverage options. It currently boasts a Colorado Springs entertainment campus with the Boot Barn Hall concert venue, Bourbon Brothers restaurant, and VENU music and social bar and will have launched similar locations in Georgia, Florida, Tennessee, and Texas by the end of 2023, as well as the company’s crown jewel: The Sunset, a technically advanced, 8,000-person open-air amphitheater in Colorado Springs that will host the largest touring acts in the country.

For more on VENU, contact Mark Satlof (msatlof@shorefire.com) or Hannah Schwartz (hschwartz@shorefire.com) at Shore Fire Media.

June 29, 2023 – Music venue and hospitality company VENU has inked a deal with global entertainment presenter AEG Presents for the forthcoming $55,000,000 outdoor music coliseum Sunset Amphitheater in Colorado Springs, Colorado. Under the terms of the deal, The Sunset will present roughly 40 concerts every year in an 8,000-person state of the art open-air amphitheater in the entertainment-rich Polaris Pointe development. In a true owner-operator partnership, AEG Presents will exclusively book the acts and run day-to-day operations while VENU will continue to own the venue. The unique terms of the ten-year agreement underscore the exceptional nature of this collaboration. The agreement is a ten-year term. Construction on The Sunset is already underway, on schedule to open in 2024.

“I can’t express the magnitude of our excitement as we embark on this incredible journey alongside AEG Presents. This partnership not only solidifies and validates our business model but also represents a truly exceptional alliance. Anytime you can do business with an Anschutz company, it’s an honor.” said VENU CEO JW Roth.

Brent Fedrizzi, Co-President & COO, AEG Presents Rocky Mountains, added ““We are looking forward to bringing World Class entertainment to Colorado Springs with the addition of the Sunset Amphitheater and our new partnership with J.W. Roth and his team at VENU. This entertainment destination will be a crown jewel in the community, for artists and fans to enjoy for years to come.”

Named last fall to Billboard’s “Venues to Watch” list, The Sunset will host some of the largest touring acts in the country in style and comfort on the same campus as VENU’s current mid-sized music venue Boot Barn Hall. Designed by industry renowned architects, The Sunset will offer an unparalleled view of the sun setting over Pikes Peak, America’s mountain, right behind the stage as each concert begins, flanked by the United States Air Force Academy stadium on the left and the iconic Air Force chapel on the right, as well as amenities like 92 VIP luxury firepit suites, and a $20,000,000 signature fine dining seafood and chophouse with a magnificent rooftop bar, carrying over 150 of the rarest bourbons in the world.

VENU has plans to begin construction in a half dozen markets by the end of 2023 or early 2024, with expansions to six additional markets planned over the next five years.

In 2022, VENU, Inc. announced new music and entertainment complexes in the emerging markets of Colorado Springs, CO; Gainesville, GA and Murfreesboro, TN. The company identifies markets in regions with growing populations but a dearth of high-quality music and entertainment venues, and offers premium concert experiences, complete with unbeatable sound and sightlines as well as elevated food and beverage offerings. In addition to having two VENU venues named to Billboard’s “2022 New and Renovated Venues List,” JW Roth was named a “VenuesNow 2022 All Star.”

ABOUT VENU, Inc.

VENU, founded by Colorado Springs-based entrepreneur JW Roth, is the rapidly growing live-entertainment company that by the end of 2023 will be operating a half dozen large and mid-sized premium music venues across the West and South. The company identifies areas with growing populations but a dearth of high-quality music and entertainment venues and offers premium concert experiences, complete with unbeatable sound and sightlines as well as elevated food and beverage options. It currently boasts a Colorado Springs entertainment campus with the Boot Barn Hall concert venue, Bourbon Brothers restaurant, and VENU music and social bar and will have launched similar locations in Georgia, Florida, Tennessee, and Texas by the end of 2023, as well as the company’s crown jewel: The Sunset, a technically advanced, 8,000-person open-air amphitheater in Colorado Springs that will host the largest touring acts in the country. https://venu.live/

ABOUT AEG PRESENTS

Combining the power of the live event with a focus on true artist development, AEG Presents is a world leader in the music and entertainment industries. Operating across four continents, the company has an unparalleled commitment to artistry, creativity, and community. Its tentpole festivals and multi-day music events — which include the iconic Coachella Valley Music & Arts Festival and the legendary New Orleans Jazz & Heritage Festival alongside British Summer Time at Hyde Park, Stagecoach, Hangout Festival, Electric Forest, and Firefly — continue to set the bar for the live music experience. AEG Presents promotes global tours for artists such as The Rolling Stones, Ed Sheeran, Elton John, Taylor Swift, Celine Dion, Justin Bieber, Kenny Chesney, Paul McCartney, and Katy Perry, in addition to — through its network of clubs, theatres, arenas, stadiums and renowned partner brands such as Goldenvoice, Messina Touring Group, Concerts West, The Bowery Presents, PromoWest Productions, Marshall Arts, Madison House Presents, and Zero Mile Presents — creating and developing an unmatched infrastructure for artist development and audience reach. More information can be found at www.aegpresents.com.

For more on VENU, contact Mark Satlof (msatlof@shorefire.com) or Hannah Schwartz (hschwartz@shorefire.com) at Shore Fire Media.

For AEG Presents, contact Dennis Dennehy (ddennehy@aegpresents.com).