Future FinTech Indicators Definitive Settlement to Buy UK Cash Fee Service Firm

NEW YORK, September 7, 2021 / PRNewswire / – Future FinTech Group Inc. (NASDAQ: FTFT) (“hereinafter referred to as” Future FinTech “,” FTFT “or” the Company “), a leading blockchain-based e-commerce company and fintech Service provider announced today that on September 1, 2021the Company signed a definitive agreement (the “Agreement”) to acquire 100% of the equity of Khyber Money Exchange Ltd. (“Khyber Exchange”) by Rahim Shah | (the seller”).

Khyber Exchange is a money transfer company with a platform to transfer money through one of its agent locations or through its online portal, mobile platform or over the phone. Khyber Exchange was integrated into February 2009, is headquartered in the UK and has offices in Germany and Italy; his website is https://khyberexchange.com.

According to the agreement, the company will acquire 100% of the equity of Khyber Exchange for a purchase price of € 685,000 (approx US $ 820,170). The company conducted extensive operational, legal, and financial due diligence to achieve this agreement. The Khyber Exchange is regulated by the UK’s Financial Conduct Authority (FCA); the acquisition must be approved by the FCA prior to formal closure.

More detailed information about the agreement can be found on Form 8-K and filings with the Securities and Exchange Commission September 7, 2021.

Shanchun Huang, Chief Executive of Future FinTech, commented, “We are excited about this acquisition as it further expands our presence as a fintech and further diversifies our geographic reach in terms of international business transactions and cash flows. We believe there will be synergies with other financial services businesses that we develop. “

“Khyber Exchange will also be an excellent fit for FTFT UK Limited, our recently established subsidiary that provides us with the operational base for developing the fintech business in Europe. Our goal is to become a diversified fintech company that seizes current opportunities and integrates them into a comprehensive business platform, and to create a company that can meet the current financial needs of its customers and positively transform the traditional banking sector to provide innovative products and services to bring to market, ”concluded CEO Huang.

The story goes on

Rahim Shah |, Chief Executive Officer of Khyber Exchange, stated, “As a global money transfer company, Khyber Exchange can send money to over 130 countries through its agents, online portal, mobile platform or over the phone. Fund transfers can be collected from their offices or via the beneficiary’s bank account, with the funds transferred being credited within 24 to 48 hours. Khyber Exchange guarantees its customers that its transactions are executed at the best possible exchange rate, are secure, reliable, and processed instantly. It has amassed a significant number of loyal customers over the past decade. The acquisition by FTFT will help Khyber Exchange run its business and operations in Asiaespecially in the fast growing Chinese market. “

About Future FinTech Group Inc.

Future FinTech Group Inc. (“Future FinTech”, “FTFT” or the “Company”) is a leading blockchain e-commerce company and a Florida-based financial technology service provider. The company’s business activities include a blockchain-based online shopping mall platform, Chain Cloud Mall (“CCM”), a cross-border e-commerce platform (NONOGIRL), an incubator for blockchain-based application projects and financial services for the supply chain industry . The company is also engaged in the development of blockchain-based e-commerce technology as well as financial technology. For more information, please visit https://ftft.com/.

Safe Harbor Statement

Certain statements made in this press release are “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, or the Stock Exchange Act. Forward-looking statements include statements relating to our beliefs, plans, goals, goals, expectations, expectations, beliefs, estimates, intentions and future performance and involve known and unknown risks, uncertainties and other factors that are beyond our control and are related thereto could cause actual results, performance, capital, property or achievements of the company to differ materially from the future results, performance or achievements expressed or implied in such forward-looking statements. All statements that are not historical facts are statements that may be forward-looking statements. You can make these forward-looking statements through our use of words such as “may”, “will”, “anticipate”, “assume”, “should”, “state”, “would”, “believe”, “consider,” “expect” , “estimate,” “continue,” “plan,” “show,” “project,” “might,” “intend,” “aim,” and other similar words and phrases for the future.

All forward-looking statements, whether written or oral, attributable to us are expressly restricted in their entirety by this caution, including, but not limited to, the risks and uncertainties set out in our Annual Report on Form 10-K for the December 31, 2020 ending Year and our other reports and filings with the SEC. Such reports are available upon request from the Company or the Securities and Exchange Commission, including on the SEC’s web site at https://www.sec.gov. We have no obligation or undertake to update, revise or correct any forward-looking statements after this date or after the respective date on which such statements are otherwise made.

Cision

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SOURCE Future FinTech Group Inc.

Israel, Hamas edge towards settlement on mechanism for Qatari help cash

Palestinian press reported yesterday that the UN approved a new mechanism to send Qatari aid funds to needy families in Gaza. In the past few years, Qatari envoys came to Israel every six months and drove from there to the Strip with suitcases full of cash. Once the money was in place, it was given to a representative of the families in need to be distributed at the post offices. According to reports, the new mechanism would result in the aid money being transferred to the strips through Palestinian banks in the West Bank under the supervision of the UN. This new mechanism would guarantee better control of money. It will only refer to charity funds, not the salaries of Gaza Strip officials. This solution was apparently promoted by the UN special envoy for the Tor Wensland region. The report also alleged that neither Israel nor Hamas objected to it.

The Lebanese newspaper Al-Akhbar published this morning that Hamas had agreed to one in talks with international and Qatari officials mechanism through which Qatari money would be distributed through Palestinian banks and under the supervision of the UN. Official Israeli sources unnamed yesterday said Israel’s army radio that the reports of such a new mechanism were not accurate. However, if such a mechanism is actually put in place, it should not only help combat the dire economic crisis in the Strip, but also lay the foundation for promoting an agreement between Israel and Hamas.

In recent years, the new Prime Minister Naftali Bennett and the new Finance Minister Avigdor Liberman have repeatedly voiced criticism of the suitcase-cash procedure and accused the then Prime Minister Benjamin Netanyahu of financing the Hamas terrorism. That was actually the background too Liberman resigns 2018 from his position as Minister of Defense in the Netanyahu government. Israel’s new government has insisted that a new mechanism be put in place to transfer donations to Gaza through a UN fund. Such a fund would directly finance development projects in the strip, bypassing Hamas’ involvement, and preventing the money from being used to dig attack tunnels or manufacture weapons.

Although ready to negotiate, developments on the border over the past two weeks reflect the military strategy of the new Israeli government against any terrorist attacks from the Gaza Strip. The Israeli Air Force attacked July 3 Targets in Gaza and retaliatory strikes over fire balloons that were shot down from the Strip during the weekend. Targets included a Hamas rocket launcher and an arms factory. As early as July 1, IDF jets struck another Hamas arms factory in Gaza in response to the fire balloons launched on the same day.

Minister for Diaspora Affairs Nachman Shai said yesterday (July 4th): reacts more violently [than the Netanyahu government]. This is not a fixed formula for an air strike for everyone [incendiary] Balloon for an air force attack … Basically it is clear that Israel is not prepared to accept any violation of sovereignty – not even by one [arson] Balloon.”

surgery Guardian of the walls ended May 21 after Hamas and Islamic Jihad fired nearly 4,400 rockets at Israel over a twelve-day period. During these days of fighting, the IDF struck back and transported more than 1,500 targets from the two groups. A truce brokered by Egypt ended the fighting and offered a short-term solution. Since then, Egypt has been pushing for a long-term deal. Israeli commentator Tal Schneider reported On July 1, Cairo appointed the experienced mediator Ahmad Abd al-Khalek to its negotiating team, which Jerusalem sees as an intensified mediation effort and before an expected visit by Bennett to Washington. Although no date has been set for such a trip, President Joe Biden told visiting President Reuven Rivlin last week that he expected to meet the Israeli Prime Minister as soon as possible.

While the situation on the border with Gaza had deteriorated in recent days and more and more hot balloons ignited bushfires in the southern communities of Israel, Egypt appears to be continuing its mediation efforts to reach an agreement between the sides. A senior Israeli security delegation visited Cairo last week for mediated talks and is expected to return this week. The delegation included National Security Council official Nimrod Gez, Israel’s chief negotiator for the release of Israelis detained by Hamas Yaron Blum, and several other senior security officials.

As Prime Minister, Bennett had made it clear that a long-term deal with Hamas would have to include the return of the bodies of IDF soldiers Oron Shaul and Hadar Goldin to Israel and the release of the two Israeli civilians, Avraham Avera Mengistu and Hisham from Hamas. al-Sayed are being held. IDF seniors have said in recent days that any agreement to relax the restriction on the closure of Gaza must include progress on this issue. A Palestinian report last week said Israel could consent to the release of some sick Hamas prisoners in exchange for information on the physical and mental health of Israeli prisoners. Mediated talks are reportedly blocked in Israel as Hamas insists that prisoners responsible for the killing of Israelis also be included in the prisoner exchange.

Fertitta Leisure, Inc. Broadcasts Modification to Merger Settlement with FAST Acquisition Corp.

HOUSTON, June 30, 2021 /PRNewswire/ — Fertitta Entertainment, Inc., the parent company of Golden Nugget/Landry’s (“Fertitta” or the “Company”), a leader in the gaming, restaurant, hospitality and entertainment industry, and FAST Acquisition Corp. (NYSE: FST) (“FAST”), a special purpose acquisition company co-headed by Doug Jacob and Sandy Beall, announced today that they have entered into an amendment to their previously announced Agreement and Plan of Merger entered into between the parties on February 1, 2021.   According to the amendment, the Company has agreed to contribute certain operating businesses not originally included as part of the business combination with FAST for no additional debt.  Businesses that will now be contributed to the public company include the Mastro’s brand, the Aquariums, the Pleasure Pier, Vic and Anthony’s, and a handful of smaller restaurant concepts, adding a total of 42 incremental, high-quality business assets.  Also, the Company will enter into a transaction to acquire the Catch restaurants, including Catch Steak, which restaurant group is already 50% owned indirectly by Tilman J. Fertitta.  In connection with the amendment, Mr. Fertitta, the Company’s owner, will receive additional equity in the NYSE public company which will increase his total equity stake post -closing of the transaction to approximately 72%.   

Pro forma for the revised transaction, Fertitta Entertainment, Inc. will be one of the largest publicly-traded hospitality companies with 5 land-based casinos and substantial ownership of Golden Nugget Online Gaming, Inc. and over 500 restaurants, amusements, hotels, entertainment venues and other business units across 38 states, the District of Columbia, Puerto Rico, Hong Kong, mainland China, Mexico and Singapore, plus numerous licensed restaurants throughout the world.

In addition, the Company announced preliminary pro forma financial results for the quarter ended June 30, 2021.  Including the additional assets and business units, pro forma net revenues for the three-month period are expected to be between $917 million and $920 million, with pro forma adjusted EBITDA estimated to be between $270 million and $275 million.  For full year 2021, the Company believes that its pro forma adjusted EBITDA will exceed $800 million assuming the contribution or acquisition of all of the operating businesses by the Company was completed as of January 1, 2021.  According to Tilman J. Fertitta, “the contribution of the new business assets greatly improves the Company’s operating cash flow, provides better assets for organic growth, and significantly deleverages the Company as no incremental debt is being incurred by the Company as part of the revised transaction.  Since the rollout of covid vaccinations, the operating results of the incremental assets have been so strong, I decided that I should be focused all in on the Company as I see opportunities for a significant acquisition that would not otherwise be available to the Company without this revised transaction.  We were a great company before and now even better today.”

“The addition of Mastro’s and the destination entertainment businesses provide tremendous cash flow and growth opportunities to the Company and we are excited that Tilman is contributing the new assets to the Company,” said Doug Jacob. “These brands create an even stronger portfolio to leverage for potential future acquisitions.”

Sandy Beall added: “We believe the new assets provide tremendous value to the public company and greatly strengthen the balance sheet for future growth.”

Amended Transaction Overview

The amended transaction implies an enterprise valuation for Golden Nugget/Landry’s of approximately $8.6 billion. This enterprise value includes the value of the GNOG equity to be contributed to the Company, based on an assumed per share trading price of approximately $13.00 for GNOG shares, which will be subject to adjustment based on the 60 day average price of the stock before closing. Estimated cash proceeds from the transaction are expected to consist of FAST’s $200 million of cash in trust, assuming no redemptions. In addition, shareholders have committed to invest approximately $1.24 billion in the form of a PIPE at a price of $10.00 per share of common stock of FAST immediately prior to the closing of the transaction.

The Company expects to use the proceeds from the transaction to accelerate the Company’s growth initiatives, general corporate purposes and reduce existing debt. In connection with the merger, the parties will undertake certain reorganizational transactions to exclude from the public company certain businesses and assets that Tilman J. Fertitta will continue to wholly own on a private basis.

The boards of directors of each of FAST and Fertitta have unanimously approved the amended transaction. The amended transaction will require the approval of the stockholders of FAST and is subject to other customary closing conditions, including the receipt of certain regulatory and gaming approvals. The SEC review process is expected to begin around the third week in July, and the transaction is now expected to close in the fourth quarter of 2021.

Fertitta Entertainment, Inc.

Fertitta Entertainment, Inc. is Tilman J. Fertitta’s holding company for substantially all of his assets, including all of the equity in Golden Nugget, LLC and Landry’s, LLC, approximately 31.494 million shares in Golden Nugget Online Gaming, Inc. (“GNOG”), hotels, real estate, and other investments. The business combination will only include all of its holdings in GNOG and the majority of the assets and businesses that comprise Golden Nugget, LLC and Landry’s, LLC.  Golden Nugget/Landry’s is a multinational, diversified gaming, restaurant, hospitality, and entertainment company based in Houston, Texas.  The Company’s gaming division includes the renowned Golden Nugget Hotel and Casino concept, with locations in Las Vegas and Laughlin, NV; Atlantic City, NJ; Biloxi, MS; and Lake Charles, LA.  GNOG is a leading online gaming company that is considered a market leader by its peers and was first to bring Live Dealer and Live Casino Floor to the United States online gaming market. GNOG was the past recipient of 15 eGaming Review North America Awards, including the coveted “Operator of the Year” award in 2017, 2018, 2019 and 2020. Entertainment and hospitality divisions encompass popular destinations including the Kemah Boardwalk. The Company also operates more than 500 outlets, including over 400 high-end and casual dining establishments around the world, with well-known concepts such as Del Frisco’s, Landry’s Seafood House, Bubba Gump Shrimp Co., Rainforest Cafe, Morton’s The Steakhouse, The Oceanaire Seafood Room, McCormick & Schick’s Seafood, Chart House, Joe’s Crab Shack, and Saltgrass Steak House. Landry’s also operates the popular New York BR Guest Restaurants such as Dos Caminos, Strip House and Bill’s Bar & Burger.

FAST Acquisition Corp.

FAST is a hospitality-focused blank check company launched by the principals of &vestwhose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. FAST is led by founder Doug Jacob and CEO Sandy Beall. FAST raised $200,000,000 in its initial public offering on August 20, 2020 and is listed on NYSE under the ticker symbol “FST.”

Advisors

Latham & Watkins LLP is acting as legal advisor to Fertitta, and Jefferies LLC is acting as financial advisor and capital markets advisor to Fertitta. Jefferies LLC acted as lead placement agent on the PIPE. Both Winston & Strawn LLP and White & Case LLP are acting as legal advisors to FAST.  Citigroup Global Markets Inc. is acting as sole financial advisor to FAST, and Citigroup Global Markets Inc. and UBS Investment Bank are jointly acting as capital markets advisor to FAST.  Goodwin Procter LLP and Skadden, Arps, Slate, Meagher & Flom LLP are acting as legal advisors to Jefferies LLC.

Non-GAAP Financial Measures

This press release includes certain non-GAAP financial measures, including EBITDA and Pro forma Adjusted EBITDA. EBITDA is defined as net income plus interest expense, income tax expense, depreciation and amortization. Pro forma Adjusted EBITDA is defined as EBITDA, plus impairment expenses, pre-opening costs, and onetime non-recurring items, as if all of the businesses were owned as of January 1, 2021. These financial measures are not prepared in accordance with accounting principles generally accepted in the United States and may be different from non-GAAP financial measures used by other companies. FAST and the Company believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends. These non-GAAP measures with comparable names should not be considered in isolation from, or as an alternative to, financial measures determined in accordance with GAAP.

Forward-Looking Statements

This press release includes “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995.  The Company’s and FAST’s actual results may differ from their expectations, estimates and projections and consequently, you should not rely on these forward looking statements as predictions of future events.  Words such as “expect,” “estimate,” “project,” “budget,” “forecast,” “anticipate,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “predicts,” “potential,” “continue,” and similar expressions are intended to identify such forward-looking statements.  These forward-looking statements include, without limitation, the Company’s and FAST’s expectations with respect to future performance and anticipated financial impacts of the transactions contemplated by the merger (the “Business Combination”), the satisfaction of the closing conditions to the Business Combination and the timing of the completion of the Business Combination.  These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from the expected results.  Most of these factors are outside the Company’s and FAST’s control and are difficult to predict.  Factors that may cause such differences include, but are not limited to: (1) the occurrence of any event, change or other circumstances that could give rise to the termination of the agreement and plan of merger for the Business Combination (the “Merger Agreement”) or could otherwise cause the Business Combination to fail to close, (2) the outcome of any legal proceedings that may be instituted against the Company and FAST following the announcement of the Merger Agreement and the transactions contemplated therein; (3) the inability to complete the Business Combination, including due to failure to obtain approval of the stockholders of FAST or satisfy other conditions to closing in the Merger Agreement, including the failure to obtain gaming or other regulatory approvals; (4) the impact of COVID-19 on the Company’s business and/or the ability of the parties to complete the Business Combination; (5) the inability to obtain or maintain the listing of FAST’s shares of common stock on the New York Stock Exchange following the Business Combination; (6) the risk that the Business Combination disrupts current plans and operations as a result of the announcement and consummation of the Business Combination; (7) the ability to recognize the anticipated benefits of the Business Combination, which may be affected by, among other things, competition, the ability of the Company to grow and manage growth profitably and retain its key employees; (8) costs related to the Business Combination; (9) changes in applicable laws or regulations; (10) the possibility that FAST or the Company may be adversely affected by other economic, business, and/or competitive factors; and (11) other risks and uncertainties indicated from time to time in the Registration Statement (as defined below) relating to the Business Combination, including those under “Risk Factors” therein, and in FAST’s other filings with the SEC.  The foregoing list of factors is not exclusive.   Readers are cautioned not to place undue reliance upon any forward-looking statements, which speak only as of the date made.  Neither FAST nor the Company undertakes or accepts any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions or circumstances on which any such statement is based. 

No Offer or Solicitation

This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed transaction. This press release shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Additional Information

In connection with the proposed Business Combination, FAST’s wholly owned subsidiary, FAST Merger Corp. (“FAST TX”) intends to file with the Securities and Exchange Commission (the “SEC”) a Registration Statement on Form S-4 (the “Registration Statement”), which will include a proxy statement/prospectus, and certain other related documents, which will be both the proxy statement to be distributed to holders of shares of FAST’s common stock in connection with its solicitation of proxies for the vote by FAST’s stockholders with respect to the proposed Business Combination and other matters as may be described in the Registration Statement, as well as the prospectus relating to the offer and sale of the securities of FAST TX to be issued in the Business Combination. FAST’s stockholders and other interested persons are advised to read, when available, the preliminary proxy statement/prospectus included in the Registration Statement and the amendments thereto and the definitive proxy statement/prospectus, as these materials will contain important information about the parties to the Merger Agreement, FAST and the Business Combination. After the Registration Statement is declared effective, the definitive proxy statement/prospectus will be mailed to stockholders of FAST as of a record date established for voting on the Business Combination and other matters as may be described in the Registration Statement. Stockholders will also be able to obtain copies of the proxy statement/prospectus and other documents filed with the SEC that will be incorporated by reference in the proxy statement/prospectus, without charge, once available, at the SEC’s web site at www.sec.gov, or by directing a request to: FAST Acquisition Corp., 3 Minetta Street, New York, New York 10012, Attention: Sandy Beall, Chief Executive Officer.

Participants in the Solicitation

FAST and Fertitta and their respective directors and executive officers may be deemed participants in the solicitation of proxies from FAST’s stockholders with respect to the Business Combination. A list of the names of those directors and executive officers and a description of their interests in FAST are contained in FAST’s final prospectus dated August 20, 2020 relating to its initial public offering and in FAST’s subsequent filings with the SEC, and is available free of charge from the sources. Additional information regarding the interests of such participants will be contained in the Registration Statement when available.

SOURCE Landry’s

Transformation Leisure Group (TEG) and Appotronics USA Signal Unique Distribution Settlement for Professional-AV Laser Merchandise

ORANGE, Calif .– () –Transformation Entertainment Group (TEG), experts in visualization and audio products, fully integrated solutions and managed services, is pleased to announce that Appotronics USA Inc. has selected the company as its main distributor in North America for its revolutionary and market-leading Pro-AV laser projector products .

All Appotronics Pro AV laser projectors use proprietary intellectual property called ALPD (Advanced Laser Phosphor Display) technology. The ALPD laser display technology is characterized by high efficiency, high contrast, large color range, high reliability, exceptional image quality and a full range of fixed and zoom lenses. Appotronics’ newest Pro AV projector for large event spaces, the T Series, continues to revolutionize the industry and features ALPD technology, 3-DLP and generates up to 33,000 lumens in the smallest, lightest and quietest space.

“We are very excited to be working with TEG to lead our sales operations and provide exceptional customer service in North America,” said Peter Zhang, North America Sales Manager, Appotronics USA. “We look forward to being able to offer TEG the best projectors in the industry for applications such as entertainment, education, places of worship, digital signage and rental staging.”

“Appotronics’ ALPD technology has revolutionized laser projection and enables high performance and reliability at an affordable price,” said Tom Schwartz, TEG partner. “TEG is pleased to work with consultants, dealers, integrators and agencies.”

Via Appotronics

Appotronics is a true leader in laser displays, formed by global R&D executives from specialty areas such as optics, electronics, materials, physics, engineering and precision manufacturing. Appotronics invented its signature ALPD® technology in 2007 and it changed the industry. Recognized as the standard for the next generation of laser displays, we continue to be pioneers in industrialization on a global level. ALPD® technology is currently used in multimedia projects for industries such as film production, television, intelligent education, large event displays, and others. Appotronics is the fifth company in the world and the first in China to manufacture digital laser cinema projectors that meet DCI certification.

About the Transformation Entertainment Group (TEG)

Transformation Entertainment Group (TEG) is a technology and professional services company that helps movie theater and commercial space owners optimize, reinvent, transform and improve their entertainment and corporate branding and messaging experiences. TEG is headquartered in Orange County, California. For more information, please visit www.transentgroup.com.

Council OKs incentive settlement for constructing of leisure venue | Native

The Harker Heights Council unanimously voted Tuesday to approve a 380 economic development incentive agreement with Gambit Social House, Inc., which will build and operate an entertainment venue for the city along FM 2410.

The project improvements that Gambit has approved will be in the area where Cedar Knob Road ends and then joins FM 2410 and will be completed on or before March 31, 2022 as specified in the agreement.

This family entertainment center project will include a 12,000 square meter entertainment venue that will house a pub, restaurant and 9-hole mini golf course with top golf technology; eight escape rooms and a 400 square meter event space.

Gambit has also agreed to set up three outdoor ax throwing tracks, beach volleyball facilities, other games, and seating areas on the premises.

City Manager David Mitchell said, “This was the type of project that came up during our Exploring New Heights study a few years ago that was number one in terms of what families wanted.

“Second, we don’t have that, so it could easily become regional and bring in people from other parts of the county.”

Mitchell added, “The cumulative amount of grant payments under this agreement will not exceed $ 150,299. Once the cumulative amount of economic development grants (real estate economic development grants plus sales-related economic development grants) is $ 150,299, the city has no further obligation to pay grants under the agreement and the agreement ends “Said Mitchell.

What the council did with this 380 is performance based. The city does not give the builder any money in advance. All funds they produce will be returned to them.

“In other words, right now, the value of the property is the value of the dirt,” said Mitchell. “Gambit will build a structure on this that will add value to this property. The council agreed to reimburse half of the increase in taxes that come into the city over a five-year period, as well as half of the sales tax.

“That means citizens and the city will receive half of the property tax they produce and half of the sales tax during that period, up to $ 150,299,” Mitchell said.

The city used 380 agreements to lure the Market Heights Mall and Seton Medical Center to Harker Heights.

Mitchell, said, “It is important to reiterate that this is discount and performance driven. The city does not distribute treasury dollars to attract a company to the city. These are dollars that are produced by the company and we will reimburse a portion of what they generate to lure them to this place. “

In return for the economic development grants provided for in this agreement, Gambit agrees to make a minimum investment of $ 2 million in the project improvements, increasing the estimated value of $ 2 million (over the estimated property value in 2021) for The ad valorem property tax will be increased for purposes, as certified by the Bell County Appraisal District, from tax year 2022 on the City of Harker Heights tax registers.

Gambit also agrees to hold at least $ 2 million in total taxable assets on the property for each of the five years through 2026.

So-called 380 agreements are approved by the state and allow cities to set up and manage one or more programs for granting or loaning public funds to promote economic development.

Mitchell told the Herald, “It is not referred to as 380 for any reason other than that found in Chapter 380 of the Local Government Code.

Cerence and SiriusXM Enter Into Settlement to Improve Voice-Powered Leisure Expertise for Automakers and their Drivers

Drivers can use Cerence technology to access SiriusXM programming with simple and intuitive voice commands in vehicles equipped with SiriusXM satellite radios and next-generation SiriusXM with 360L radios

NEW YORK and BURLINGTON, Massachusetts, June 10, 2021 (GLOBE NEWSWIRE) – Cerence Inc. (NASDAQ: CRNC), AI for a world in motion and Sirius XM Holdings Inc. (NASDAQ: SIRI), the leading audio entertainment company in North America, announced today that it is teaming up to bring Cerence’s conversational AI technology together with SiriusXM as part of a bundled offering for automakers.

Together, the two companies will enhance and enrich the driving experience by providing natural, conversational access to SiriusXM, the popular in-car audio entertainment service that features hundreds of channels of curated, ad-free music, sports, news, entertainment, comedy, and more . This collaboration between Cerence and SiriusXM will provide more drivers at more OEMs with better voice technology and a more user-friendly and consistent way for these drivers to adjust to their preferred SiriusXM programming using simple, straightforward commands such as “Play”. 80s to 8. “This functionality will be available on select SiriusXM satellite radios and in the growing number of vehicles equipped with SiriusXM’s next-generation 360L radios and Cerence technology. Drivers using SiriusXM with 360L can use their voice to access all of SiriusXM’s live channels, as well as a library of pre-recorded content, including a wide range of podcasts, exclusive interviews and unique shows.

“We’re constantly looking for ways to make the SiriusXM experience more enjoyable and easier for our coast-to-coast subscribers,” said Sean Gibbons, SVP and GM, Automotive Product and Engineering, SiriusXM. “By working with Cerence, a leading provider of intuitive, natural driving experiences, we’re making it easier than ever for drivers to access and enjoy the best in-car audio entertainment.”

The story goes on

In addition, Cerence-powered vehicle assistants use AI to continuously learn about users, meaning drivers who, for example, are constantly adjusting to the 80s of SiriusXM, can be directed to new content based on their preferences. For drivers using SiriusXM for the first time, Cerence offers a voice-enabled, conversational onboarding experience that informs them of the most important features, functions and information about SiriusXM and their trial version or subscription and promotes their enjoyment, acceptance and future use.

“SiriusXM, as the leading provider of in-car content, has a wide reach and new and exciting programming for its subscribers,” said Sanjay Dhawan, CEO of Cerence. “By expanding the capabilities of the mobility assistant to include optimized access to SiriusXM content, we are giving drivers a comprehensive, dynamic experience that makes their journey safer, more productive and more enjoyable.”

This integrated offering will be available in North America to automakers for models starting production next year, and it will be available to OEMs with existing Cerence-powered vehicle assistants with over-the-air update capabilities. Cerence currently works with the world’s leading automobile manufacturers, with Cerence technology solutions installed in hundreds of millions of cars worldwide.

For more information on SiriusXM, see www.siriusxm.com. To learn more about Cerence, visit www.cerence.com, and follow the company up LinkedIn and Twitter.

About Cerence Inc.
Cerence (NASDAQ: CRNC) is the global industry leader in creating unique, moving experiences for the mobility world. As an innovation partner of the world’s leading automobile manufacturers and mobility OEMs, it helps to drive the future of connected mobility through intuitive, powerful interaction between people and their cars, two-wheelers and even elevators, and to connect the digital life of consumers with their daily travels, no matter where you are. The success story of Cerence is based on more than 20 years of experience and more than 350 million cars delivered with Cerence technology. Whether connected cars, autonomous driving, e-vehicles or buildings – Cerence maps the road in front of you. For more information, visit www.cerence.com.

About SiriusXM
Sirius XM Holdings Inc. (NASDAQ: SIRI) is the leading audio entertainment company in North America and the leading programmer and platform for subscription and digital ad-supported audio products. Pandora, a subsidiary of SiriusXM, is the largest ad-supported audio entertainment streaming service in the U.S. The SiriusXM properties, which include Pandora and leading podcast company Stitcher, reach more than 150 million listeners across all categories, the largest addressable audience in the US US digital audio – music, sports, talk, and podcasts. SiriusXM’s acquisitions of Stitcher and Simplecast, along with industry-leading advertising technology company AdsWizz, make SiriusXM a leader in podcast hosting, production, distribution, analytics and monetization. SiriusXM also provides satellite radio and audio entertainment in Canada through Sirius XM Canada Holdings, Inc. In addition to its audio entertainment business, SiriusXM provides connected vehicle services to automakers. For more information on SiriusXM, visit: www.siriusxm.com.

Contact information
Kate Hickman
Cerence Inc.
Tel: 339-215-4583
E-mail: kate.hickman@cerence.com

Andrew FitzPatrick
SiriusXM
E-mail: Andrew.Fitzpatrick@siriusxm.com

Corridor of Fame Resort & Leisure Firm Extends Settlement with PepsiCo Drinks North America

CANTON, Ohio – () – The Hall of Fame Resort & Entertainment Company (“HOFV” or the “Company”) (NASDAQ: HOFV, HOFVW), the only resort, entertainment and media company focused on the power of professional football, announced today announced that it has expanded its business agreement with PepsiCo Beverages North America as the Hall of Fame Village non-alcoholic beverage partner, with support from Johnson Controls (“The Destination”). Pepsi beverage products continue to be sold at destination and in all of its assets, including the Tom Benson Hall of Fame Stadium, the DoubleTree by Hilton hotel, and the National Youth Football and Sports Complex.

“We are proud to partner with Pepsi to share its line of products in our Destination Assets,” said Erica Muhleman, Executive Vice President, New Business Development / Marketing & Sales at HOFV. “This partnership is an example of yet another world-class organization on our list of renowned affiliated brands that recognizes our value as a company as we continue to grow our diverse businesses. As soccer fans and visitors alike are sure to return to personal events and vacation trips, this agreement allows us to continue offering our guests high quality branded beverage options in each of our hotels. ”

The expanded partnership enables the continued sale of Pepsi beverage products such as Gatorade, Aquafina, Pepsi and Diet Pepsi to athletes and spectators visiting the destination. The extended options not only include regular provision at the destination, but also the presence at all events planned by HOFV this year, including:

  • Women’s football alliance championship weekend

  • The Highway 77 Music Festival with Dan + Shay, Kelsea Ballerini and others

  • Two Pro Football Hall of Fame anchors

  • The Black College Football Hall of Fame Classic

  • The Hall of Fame game with the Pittsburgh Steelers and Dallas Cowboys

Pepsi is just one of many well-known brands associated with HOFV, including Topgolf Swing Suites, Shulas Restaurant Group, Republic Services, Blue Technologies, and Spectra Partnership.

About the Hall of Fame Resort & Entertainment Company

The Hall of Fame Resort & Entertainment Company (NASDAQ: HOFV, HOFVW) is a resort and entertainment company that works with the Pro Football Hall of Fame to harness the power and popularity of professional football and its legendary players. Hall of Fame Resort & Entertainment Company, headquartered in Canton, Ohio, owns the Hall of Fame Village, operated by Johnson Controls, a versatile sports, entertainment, and media destination around the Pro Football Hall of Fame campus. Further information about the company can be found at www.HOFREco.com.

About PepsiCo

PepsiCo products are enjoyed by consumers more than a billion times a day in more than 200 countries and territories around the world. PepsiCo posted net sales of more than $ 70 billion in 2020, powered by a complementary food and beverage portfolio that includes Frito-Lay, Gatorade, Pepsi-Cola, Quaker, Tropicana, and SodaStream. PepsiCo’s product portfolio includes a wide variety of enjoyable foods and beverages, including 23 brands, each with estimated annual retail sales of more than $ 1 billion. Leading PepsiCo is our vision to be the world leader in convenient foods and beverages by winning on purpose. “Winning with Purpose” reflects our ambition to win sustainably in the market and to embed purpose in all aspects of our business strategy and our brands. For more information, visit www.pepsico.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 expressions such as “opportunity,” future, “” will “,” Aim “and” looking ahead, and other similar expressions that predict or indicate future events or trends, or 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 beyond the control of the company and which could lead to actual results or material differences differ from those discussed in the forward-looking statements. Important factors that could, among other things, affect actual results or results include the inability to anticipate the anticipated benefits of the business combination. Costs related to the business combination; the inability to maintain or maintain listing of the Company’s shares on the Nasdaq; the company’s ability to manage growth; the company’s ability to execute its business plan and deliver on its projections; potential legal disputes in which the company is involved; Changes in applicable laws or regulations; general economic and market conditions that affect demand for the company’s products and services, particularly economic and market conditions in the resort and entertainment industries; the potential adverse effects of the ongoing global coronavirus pandemic (COVID-19) on capital markets, general economic conditions, unemployment and liquidity, the company’s operations and staff, and the risks and uncertainties that from time to time affect our Discussed reports and other public filings with the SEC. The company assumes no obligation to update or revise any forward-looking statements as a result of new information, future events or for any other reason, except as required by law.

Allied Esports Leisure and Factor Companions Amend Inventory Buy Settlement

Allied Esports Entertainment, Inc. (NASDAQ: AESE) (the “Company” or “AESE”), a global esports entertainment company, announced today that it has amended its share purchase agreement with Element Partners, LLC (“Element”) for sale all of the outstanding capital of any entity that collectively operates or operates the poker business and assets of the Company (the “WPT Business”). The amendment to the share purchase agreement increases the total purchase price from $ 90.5 million to $ 105 million.

The company’s board of directors unanimously approved the amendment to the share purchase agreement. In connection with approving the change, the Company’s Board of Directors, in consultation with its financial and legal advisers, compared the terms of the amended share purchase agreement to the terms of Bally’s Corporation (“Bally’s”) proposal to acquire WPT Business for $ 105 million. Upon such review, the Board of Directors determined that Bally’s proposal did not constitute a “superior proposal” (as that term is defined in the share purchase agreement with Element).

The transaction is expected to close in late April 2021, provided the Company’s shareholders approve the transaction and comply with required regulatory approvals and other customary closing conditions.

About the World Poker Tour

The World Poker Tour (WPT) is the premier name for internationally televised games and entertainment with branded presence in land-based tournaments, television, online and mobile. WPT has been a leader in poker since 2002, sparking the global poker boom with the creation of a one-of-a-kind television show based on a series of high-stakes poker tournaments. WPT has broadcast in more than 150 countries and territories worldwide and is currently producing its 18th season which will air on FOX Sports Regional Networks in the United States. Season XVIII of WPT is sponsored by ClubWPT.com. ClubWPT.com is a unique online membership site that provides internal access to the WPT, as well as a sweepstakes poker club available in 43 states and territories in the US, Australia, Canada, France and the UK. WPT also engages in strategic brand licensing, partnership and sponsorship opportunities. Please visit WPT.com for more information. WPT Enterprises Inc. is a subsidiary of Allied Esports Entertainment, Inc.

The story goes on

About Allied Esports Entertainment (AESE)

Allied Esports Entertainment (NASDAQ: AESE) is a global esports entertainment company dedicated to delivering transformative live experiences, cross-platform content and interactive services worldwide through the strategic merger of two strong entertainment brands: Allied Esports and World Poker Tour (WPT). On January 19, 2021, AESE entered into a share purchase agreement (the “Original Agreement”) to sell the interests WPT owns to Element Partners, LLC, subject to all applicable shareholder and regulatory approvals and other terms of the deal were satisfied. The original Agreement was amended and adapted on March 19, 2021 and further amended on March 29, 2021 (the “Amended Agreement”).

Important additional information and where to find it

AESE has filed a declaration of consent with the SEC in connection with the transactions contemplated in the original agreement and has sent a declaration of consent to its shareholders. It will submit supplementary documents to the amended agreement (the “Sales Transaction”) and send them to its shareholders. The supplementary consent form contains important information regarding AESE, Club Services, Inc., the sales transaction and the amended agreement. Investors and shareholders are asked to read the consent form and supplementary materials carefully before making an investment decision or consenting to the sale. Investors and shareholders can obtain free copies of the informed consent, supplementary materials, and other documents filed by AESE with the SEC through the SEC website maintained by the SEC www.sec.gov or contact the attorney at AESE, Regan & Associates, Inc. by phone (toll free in North America) at 1-800-737-3426

Participant in the call

In addition to Regan & Associates, Inc., AESE, its directors and officers may be considered participants in obtaining consents relating to the sales transaction. Information regarding the directors and officers of AESE and their ownership of AESE shares is contained in AESE’s amended Annual Report on Form 10-K / A for the year ended December 31, 2019 and in the final declaration of consent for the sales transaction submitted at AESE was filed with the SEC on February 2, 2021 and is supplemented by other public filings that have been and are required to be filed with the SEC. AESE’s directors and officers advantageously own approximately 6.6% of AESE’s common stock. Investors and shareholders can obtain additional information regarding the direct and indirect interests of AESE and its directors and officers in relation to the Sales Transaction by reading the consent form and other documents referenced above.

Cautionary Statement Regarding Forward-Looking Information

This release contains certain forward-looking statements under the federal securities laws. Forward-looking statements may include our statements about our goals, beliefs, strategies, goals, plans, including product and service developments, future financial conditions, results or projections, or current expectations. In some instances, you may identify forward-looking statements by using words such as “may,” “will,” “should,” “expect,” “plan,” “anticipate,” “believe,” “estimate,” “predict.” “potentially” or “further”, the negative of such terms or other comparable terminology. For example, when we discuss the effects of the sales transaction, the satisfaction of the closing conditions for the sales transaction, and the timing of the closing of the sales transaction; We use forward-looking statements in our post-sale plans. These statements are subject to known and unknown risks, uncertainties, assumptions and other factors that could cause actual results to differ materially from those anticipated in the forward-looking statements. These factors include, but are not limited to, the occurrence of an event, change, or other circumstance that may result in the termination of the amended contract or otherwise cause the Sales Transaction not to be completed; the outcome of legal proceedings that may be initiated against us after the sale is announced; the inability to complete the Sale Transaction, including due to failure to obtain approval from our shareholders or other conditions for the completion; receiving an unsolicited offer from another party for an alternative business transaction that may affect the sales transaction; a change in our plans to withhold the net proceeds from the sale transaction; our inability to complete one or more future acquisition or strategic transactions with the net proceeds from the sale transaction; and a decision not to pursue strategic options for the esports business. Most of these factors are difficult to predict with accuracy and are generally beyond our control. You should consider the areas of risk described in connection with any forward-looking statements that may be made here. AESE’s business and operations are subject to significant risks that increase the uncertainty inherent in the forward-looking statements contained in this release. Except as required by law, we undertake no obligation to publicly announce the result of any revision of these forward-looking statements that may reflect events or circumstances after the date of this document or the occurrence of unexpected events. For more information on potential factors that could affect our business, please see “Item 1A. Risk Factors” in our amended Annual Report on Form 10-K / A for the fiscal year ending December 31, 2019 ending March 17 at with the SEC. 2020. Readers are also requested to review the various disclosures we have made in this amended Annual Report on Form 10-K / A and in the informed consent form relating to the proposed sale transaction that we have filed with and sent to the SEC have to carefully examine and scrutinize our shareholders.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210330005472/de/

contacts

Investor contact:
Let glasses
Addo Investor Relations
lglassen@addoir.com
424-238-6249

SMC Leisure Indicators Definitive Buy Settlement to Purchase Spectrum Leisure LLC

SAN FRANCISCO, CA / ACCESSWIRE / February 24, 2021 / SMC Entertainment, Inc. (“SMC” or the “Company”) (OTC PINK: SMCE), a provider of products and services to the entertainment industry, digital communications and content distribution solutions, is pleased to announce that it has entered into a definitive purchase agreement to acquire 100% of Michigan-based Spectrum Entertainment LLC (“Spectrum LLC”) Has. for the equity of SMC Entertainment. SMC expects this acquisition to close soon and will publish the terms of the acquisition when it is closed.

Spectrum Midway & Carnival, the marketing brand name of Spectrum LLC, specializes in rides, games, food and fun for the whole family. Spectrum LLC has been in operation for over 25 years. Revenue for the 2018 and 2019 fiscal years was $ 597,153 and $ 618,204, respectively. Spectrum LLC saw a significant drop in revenue in FY 2020 due to the troubled US economy and expects revenues to recover in FY 2021 as the economy opens up and market conditions improve. At the end of fiscal 2020, Spectrum LLC’s net assets were $ 1,569,000. All figures are unaudited.

SMC will use this acquisition to expand its business plan to include established and proven revenue generating companies that require minimal working capital to operate their existing infrastructure. SMC intends to invest additional capital to increase Spectrum LLC’s market share and add additional games and rides.

Rick Bjorklund, President and CEO of SMC stated: “Since joining the SMC team in 2018, we have continued to seek acquisition opportunities in fragmented markets with an appropriate acquisition valuation. This acquisition provides SMC with additional revenue and strengthens our material assets We believe that there are more strategic acquisitions in this area and we will invest our time in finding the right synergetic expansion opportunities. “

The story goes on

Dan Barbacovick, Founder and Owner of Spectrum LLC, said: “We are pleased that SMC Entertainment has confidence in our growth strategy. Rick Bjorklund has extensive experience in the community events business that fits very well with Spectrum’s goals and visions ! “

About Spectrum Entertainment LLC
Spectrum Entertainment LLC has provided rides, games, food and fun for all the family for over 25 years through its marketing brand Spectrum Midway & Carnival. For more information visit www.spectrumcarnival.com.

About SMC Entertainment, Inc.
SMC Entertainment, Inc. is a provider of products and services to the entertainment industry, digital communications and media content marketplaces. Our multidisciplinary sales approach offers a platform to increase sales growth through acquisitions. For more information visit www.smceinc.com.

Press contact:
Ron Hughes
Operations manager
SMC Entertainment, Inc.
Ron.Hughes.operations@gmail.com

Safe Harbor Statement
This press release contains statements that may constitute forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995. These statements contain statements regarding the intent, belief, or current expectations of the company, its members of management and assumptions on which such statements are based. Potential investors are cautioned that such forward-looking statements are no guarantee of future performance and involve risks and uncertainties and that actual results could differ materially from those anticipated in such forward-looking statements.

SOURCE: SMC Entertainment, Inc.

View source version on accesswire.com:
https://www.accesswire.com/631495/SMC-Entertainment-Signs-Definitive-Purchase-Agreement-to-Acquire-Spectrum-Entertainment-LLC