How Silvergate Capital Will Make Cash on Stablecoins and Via Its Partnership With Fb

In May, Silvergate Capital (NYSE: IF), a bank active in the cryptocurrency space, is a blockbuster partnership with. received Facebook To become the exclusive issuer of the US dollar stablecoin Diem, formerly known as Facebook’s Libra Project. In addition to becoming the exclusive issuer of the Diem, Silvergate will also manage the Diem reserve. Management has been very expressive of the potential of stablecoins. Let’s take a look at how Silvergate is positioned to grow revenue from stablecoins and its partnership with Facebook.

Monetize stablecoins

Stablecoins are digital assets that are backed by another, ideally more stable, asset like the US dollar or perhaps a commodity like gold. The goal of stablecoins is to use certain properties of digital assets, such as the possibility of simply exchanging them without a bank account. But as the name suggests, stablecoins are said to have less risk and volatility than pure cryptocurrencies like Bitcoin.

Silvergate is an ideal partner for issuing stablecoins as it has built its own internal payment system called the Silvergate Exchange Network (SEN). SEN can process transactions in US dollars in real time around the clock, 365 days a year between any two users on the network. This is great for institutional crypto traders and crypto exchanges because Cryptocurrencies act around the clock. SEN is already providing each of the four regulated US stablecoin issuers with a critical infrastructure for operations.

Image source: Getty Images.

But the U.S. dollar-diem stablecoin could be a tipping point for Silvergate as Facebook brings huge audiences with it. The social media giant has 2.8 billion users worldwide, and if it can convince a small segment of that audience to buy a small amount of Diem stablecoins, it could quickly gain a huge market share. On Silvergate’s most recent conference call, the bank’s management team said it sees many use cases for stablecoins, including consumer-to-merchant trade and cross-border payments.

Silvergate CEO Alan Lane recently outlined three ways Bank can monetize stablecoins: transaction fees for minting and burning stablecoins; Return on the reserve deposits that support the stablecoin (and which Silvergate will manage); and a new customer segment to which Silvergate can sell traditional banking services.

The reserve deposits from the stablecoins could significantly increase deposits at the bank, which are already growing extremely rapidly, and management said it needs to manage the reserve deposits “capital efficiently”. The bank also has to share some of its fees with Facebook, but it should still be a major source of income. Lane said he sees stablecoins as the next big thing for Silvergate.

An exciting time

It’s an exciting time for Silvergate. The company just had an excellent second quarter, despite the decline in Bitcoin prices and no stablecoin revenue yet. The bank is currently working on expanding the infrastructure to support the minting and burning of stablecoins. Although the timing of the project is still difficult to predict, Lane said management would be disappointed if it couldn’t roll out the pilot before the end of the year. So keep an eye on this project because it could be an important revenue driver for the bank in the not too distant future and in the long term.

This article represents the opinion of the author who may disagree with the “official” referral position of a premium advisory service from the Motley Fool. We are colorful! Questioning an investment thesis – even one of our own – helps us all think critically about investing and make decisions that will help us get smarter, happier, and richer.

NBA faucets Tencent Music Leisure for audio content material partnership

QQ Music platform to offer official NBA podcasts.

Getty Images

  • Amateur podcasters are given the opportunity to create NBA content
  • NBA fans get a special QQ Music subscription offer

The National Basketball Association (NBA) has entered into a new content partnership with the Chinese music streaming service provider Tencent Music Entertainment (TME).

Under the new agreement, TME’s QQ Music platform will host a range of official NBA podcasts, as well as host a podcast creation contest for amateur podcasters. There will also be a special subscription for NBA fans that offers the chance to win tickets among other offers.

Musicians are also expected to work with the NBA and TME to promote league events.

QQ Music, a freemium music streaming service, is a joint venture between TME and audio streaming giant Spotify. The Swedish company has a stake in TME together with the majority owner of the Chinese technology group Tencent. Along with KuGou and Kuwo, QQ is one of the most popular streaming apps in China.

The deal continues the NBA’s lucrative sponsorship operation. In June, a study by the IEG found that the league and its 30 teams generated a record $ 1.46 billion in sponsorship revenue in the 2020/21 season. This corresponds to an increase of six percent compared to 2019/20.

IEG added that league-level partnerships were the main driver behind the increase in sales, with the NBA signing 13 new contracts. It added that league-level sponsorship spending has increased nearly 50 percent since the 2017/18 campaign.

Vaccine Pop-up Clinic Partnership with Spurs Sports activities and Leisure

Published on July 01, 2021

Mayor Ron Nirenberg announced a partnership between the city and Spurs Sports & Entertainment (SS&E) is hosting a COVID-19 vaccine pop-up clinic on July 10 at the AT&T Center and July 17 at Toyota Field. additionally Mayor announced July 10th as SA vaccine day to encourage those who have not yet received their vaccine to make a commitment to get one.

The first clinic event is from 8 am-1pm July 10th at the AT&T Center. The Spurs Food Truck will be on site and SS&E will provide vouchers for SAFC soccer games as well as giveaways, prizes and vaccination stickers.

The July 17th Mobile Clinic Event from 8 a.m. to 1 p.m. at Toyota Field will offer free tickets to SAFC soccer games to anyone visiting the clinic to get their COVID-19 vaccine. The Spurs food truck will also be there.

SS&E will also offer two season pass packages for 10 games, which will be given away on July 10th and 17th as an incentive to encourage people to get vaccinated.

LetsPlay.Dwell secures MKTG Sports activities & Leisure partnership

MKTG Sports & Entertainment has secured a partnership with the Australian esports brand LetsPlay.Live.

Photo credit: LetsPlay.Live / MKTG

CONNECTED: LetsPlay.Live is partnering with Riot Games to broadcast the OCE VALORANT competitive season

According to the press release, this partnership is the first of its kind for the Australia and Oceania region and is expected to further cement LPL’s position as an influential brand in the region. At this point it is unclear what the two parties are focusing on. However, the press release states that both parties are looking forward to “strategic opportunities”.

Duane Mutu, CEO of LetsPlay.Live, commented: “LPL sees the tremendous value of partnering with a world leader in marketing and partnerships. Gaming and esports dominate the media market both locally in ANZ and globally, and we are honored that MKTG and its parent company Dentsu Sports International see the immense value of this industry and the content of LetsPlay.Live.

“We are incredibly excited to offer esports and gaming marketing opportunities to Australian brands and to support our regional ecosystem with their support.”

CONNECTED: LetsPlay.Live works with KRAFTON for LPL PUBG

MKTG Sports and Entertainment is an agency specializing in consulting services, campaigns and strategic planning. MKTG is a major commercial partner to the Australian Football League, Cricket Australia and other sports brands in the country.

Esports Insider Says: Despite Australia’s rocky road in esports, the region is also a place with great potential. With LetsPlay.Live being one of the top esports brands in the region and MKTG being a global powerhouse in traditional sports, we are sure to see interesting things to do in Australia and Oceania in the near future.

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Bally’s Company and Oscar de la Hoya’s KO Leisure Type Partnership to Innovate Fight Sports activities Broadcasts and Remodel Fan Engagement

CAUTION, RI, June 9, 2021 / PRNewswire / – Bally’s Corporation (NYSE: BALY), the leading vertically integrated full-service sports betting and iGaming company in the United States, and Oscar de la Hoyas KO Entertainment, a subsidiary of the world’s most elite boxing promotion company, Golden Boy Promotions, Inc., today announced the establishment of. known a strategic relationship that aims to incorporate unprecedented innovation, objectivity and gamification into martial arts, thereby transforming fan engagement. To unveil this initiative, the companies will air a pilot of “Oscar de la Hoyas KO Entertainment Presents Bally’s Fight Night” – a reinterpretation of the boxing and mixed martial arts (“MMA”) presentation and the first evolution in 2.0 gamification of martial arts.

Ballys Fight Night features five professional MMA and four professional boxing competitions shown in a video game presentation. With the help of sensors and a custom-made data tracking dashboard, a large number of objective data points such as impact force and thrown and landed stroke combinations are recorded in real time. Using sports science, the data is transmitted in a power bar on the screen, similar to what is found in video games, which summarizes the total damage a fighter has absorbed. By collecting, analyzing and integrating this data into future broadcasts, Ballys and KO Entertainment will provide unparalleled objectivity that will provide fighters with a more rewarding and safer experience while increasing transparency. To further improve the gamification of martial arts and the viewing experience, Ballys intends to incorporate Monkey Knife Fight, its daily fantasy sports platform, into live broadcasts.

Soo Kim, Chairman of Ballys The corporation’s board of directors said, “This partnership represents an exceptional opportunity to bring gaming, media and martial arts experts together to breathe new life into boxing and mixed martial arts. By integrating our innovative technology and interactive gaming platforms into martial arts, we can will create new and transformative ways for audiences to engage with our live broadcasts. We look forward to piloting the Ballys Fight Night, which is just the beginning of this journey, invites viewers to tune in for an incredible night of entertainment. “

Oscar de la Hoya, Chairman and CEO of Golden Boy Promotions, commented, “We have the utmost respect for the history and tradition of boxing and mixed martial arts. By partnering with Ballys, and are working on the development of this innovative product and believe that we can provide data-driven real-time insights into the punch-by-punch actions, creating an unprecedented level of transparency and objectivity. We will also provide an experience that is easier to understand for the average viewer, and at the same time more rewarding and safer for fighters. “

Ballys Fight Night is presented Mike Goldberg Cover game by game, Frank Trigg as a color commentator and Holly Sonders as a social host and reporter. Special will also give fans a glimpse behind the scenes with fighters and coaches, facilitate fan interactions and present Monkey Knife Fight Fantasy competitions.

The “Ballys The pilot “Fight Night” will be broadcast on Stadium, the Sinclair Broadcast Group’s digital and over-the-air television network Wednesday June 9, 2021 at the 5:00 p.m. ET2:00 p.m. PT. Fans interested in viewing Ballys Fight Night can access the broadcast via https://watchstadium.com/live/ballys-fight-night/ and https://watchstadium.com/live/ballys-fight-night-2/. You can also follow the action by following #BallysFightNight on Twitter and @BallysFightNight on Instagram.

over Ballys Group

Ballys Corporation is the leading vertically integrated full-service sports betting and iGaming company in the United States with a B2B2C business model. It currently owns and operates 13 casinos in nine states, a horse racing track, and 13 authorized OTB licenses in Colorado. It also owns Bet.Works, a premier sports betting platform, Monkey Knife Fight, the fastest growing daily fantasy sports site in North America, and SportCaller, a leading global provider of free B2B games.

With more than 6,000 employees, the company’s pro forma operations for upcoming acquisitions include 15,558 slot machines, 465 table games and 5,355 hotel rooms. After the previously announced Jumer’s Casino & Hotel (Rock Island, IL) and Tropicana Las Vegas (Las Vegas, Nevada) Transactions as well as the completion of the construction of a land-based casino near Nittany Mall in State College, PA, Ballys will own and operate 16 casinos in 11 states. Ballys also has a multi-year market access partnership with Elite Casino Resorts, through which it offers mobile sports betting in Iowa, and a temporary sports betting permit to conduct online sports betting in the Commonwealth of Virginia. Its shares trade on the New York Stock Exchange under the ticker symbol “BALY”.

About KO Entertainment

KO Entertainment would like to support all employees, from athletes to creative people, under one roof with ONE common goal. That is the development of culturally meaningful new media content, marketing and branding enhancement that elevates all Latino communities worldwide through their united love for sports and entertainment.

Founded in 2021 by superstar Oscar De La Hoya, known worldwide not only as one of the best fighters of his era, but also as an elite promoter, Grammy-nominated singer, astute businessman and active philanthropist.

About Golden Boy Promotions, Inc.

The angel-based Golden Boy was founded in 2002 by Oscar De La Hoya, the first Hispanic to own a national boxing advertising company. Golden Boy is a media and entertainment brand dedicated to making combat entertainment more accessible and affordable. The company’s in-house production team develops creative original programming for RingTV.com and international channels around the world.

The company holds the exclusive rights to top boxers and has sponsored some of the largest, highest-grossing events in the history of the sport. Today Golden Boy is one of the most successful boxing entertainment companies in the world and, through its 2019 partnership with the streaming platform DAZN, is shaping the future of boxing for fighters and fans alike.

Cautionary Note Regarding Forward-Looking Statements

This document contains forward-looking statements within the meaning of the securities laws. Forward-looking statements are statements about matters that are not historical facts and include statements about Ballys Plans, goals, expectations and intentions.

Forward-looking statements are not guarantees and are subject to risks and uncertainties. Forward-looking statements are based on Ballys current expectations and assumptions. Although Ballys believes that his expectations and assumptions are reasonable at this point in time, they should not be construed as representations Ballys Expectations are met. Actual results could differ materially. Forward-looking statements apply only at the time this document was prepared and Ballys does not undertake to update or revise it as more information becomes available, unless required by law.

Important factors beyond those that apply to most businesses, some of which go beyond Ballys Controls that could cause actual results to differ materially from our expectations and assumptions include, but are not limited to:

  • Uncertainties related to the COVID-19 pandemic, including restrictions Ballys Operations, increased costs, changed customer attitudes, effects on Ballys Employees and the ongoing impact of COVID-19 on general economic conditions;
  • unexpected costs, integration difficulties and other events with an impact Ballys recently completed and planned acquisitions and Ballys Ability to realize expected benefits;
  • Risks associated with Ballys rapid growth, including those that impact customer and employee retention, integration, and controls;
  • Risks related to the effects of the digitization of gambling Ballys Casino operations, Ballys Expansion in iGaming and sports betting and the highly competitive and rapidly changing aspects of Ballys new interactive business in general;
  • the very significant regulatory restrictions on Ballys, including the cost of compliance;
  • Limitations and restrictions in agreements on Ballys Debt could have a significant impact Ballys Ability to run our business and liquidity; and
  • other risks identified in Part I. Point 1A. “Risk Factors” of Ballys Annual report on Form 10 – K for the past fiscal year December 31, 2020 as filed with the SEC March 10, 2021 and other filings with the SEC.

The above list of important factors is non-exclusive and does not include matters such as changes in general economic conditions that affect essentially all gaming companies.

You should not inappropriately rely on Ballys forward-looking statements.

Investor contact

Steve Capp
Executive Vice President and Chief Financial Officer
401-475-8564
[email protected]

Media contact

Ballys Group
Richard Goldmann / David Gil
Kekst-CNC
646-847-6102 / 917-842-5384
[email protected]

KO Entertainment / Golden Boy promotions
Gabriel Rivas
Golden boy
(213) -604-7762

SOURCE Ballys Group; KO entertainment; Golden Boy Promotions, Inc.


American Greetings varieties partnership with leisure large Roc Nation

American greetings has partnered with the entertainment company Roc Nation to create custom digital greetings as well as physical and virtual greeting cards.

Specific terms of what Westlake-based American greetings in a Press release described as a “multi-year multi-artist partnership” with Roc Nation have not been disclosed. The press release states that this is the first line of digital and physical greetings from Roc Nation.

American Greetings said in the publication that the products are being developed “in collaboration with the authentic voices” by Roc Nation artists. No artists have been identified who are part of the arrangement.

The digital products will be available worldwide and will be released in 2021, according to American Greetings. Added that “there will be more (information) on physical card availability” and consumers can register for product alerts Here, at www.americangreetings.com/roc-nation.

The first products become part of American Greetings’ “Celebrity SmashUps” Series of digital maps featuring shareable videos from people you know including Donny Osmond and Shaquille O’Neal.

Brett Yormark, Roc Nation’s president of business operations and strategy, said in a statement that the partnership “enables Roc Nation and its talent to create a deeper bond with their audiences.”

Rob Matousek, executive director of direct-to-consumer business at American Greetings, said the partnership “reflects our commitment to creating authentic content that is relevant and accessible to all”.

Roc Nation was founded in 2008 by JAY-Z who is having a big Cleveland-related week and has just been announced as a member of the Rock & Roll Hall of Fame class of 2021. The company represents recording artists, producers, songwriters, and more professionals in the entertainment and sports industries.

Firewalk Studios, a ProbablyMonsters Studio, Reveals Publishing Partnership with Sony Interactive Leisure for AAA Multiplayer Recreation

BELLEVUE, Wash .– () –Probably monsters™ Inc., a new category of game company that is building sustainable game studios through a people-first culture, is proud to announce this Firewalk Studios™, an AAA studio focused on world-class multiplayer experiences, has signed an agreement with Sony Interactive Entertainment as the exclusive publishing partner for its first multiplayer game. This publishing partnership is the first to be announced for a member of the MaybeMonsters studio family.

Firewalk Studios was founded in 2018 and is managed by Tony Hsu (Studio Head, previously GM and SVP of Destiny at Activision), Ryan Ellis (Game Director, previously Creative Director at Bungie) and Elena Siegman (Executive Producer, previously at Harmonix, Irrational Games) headed and bungie). The team consists of a large number of highly talented developers who have helped deliver best-selling, culturally impactful titles, including the Destiny franchise, where all three leads successfully collaborated on both development and release, and Call of Duty, Apex Legends, Mass Effect and Halo. This accumulated expertise enables this team to focus on delivering a rich multiplayer gaming experience based on great core gameplay and inspired art. Firewalk continues Recruiting top talent for his team built on collaboration, inclusion and respect.

Chances are, Monsters CEO and Founder Harold Ryan is continuing his vision of building and maintaining a family of AAA game studios and original IP through a people-first culture. The company’s integrative approach has drawn high-level talent who have worked together on dozens of blockbuster franchises from over 60 large companies. The unique development model allows the studios to focus on creating games while the company’s business team focuses on mentoring, funding, release negotiation, staffing, administration and technology for each studio. Chances are, Monsters build game studios so they can focus on their team, culture, and games while enjoying a stable career and thriving as game developers. The Firewalk Studios are an example of how successful the groundbreaking model that probably built Monsters is: The studios enjoy the creative and financial freedom to turn their imaginations into extraordinary gaming experiences.

“It is likely that Monsters has put together an exceptional team with remarkable industry talent at Firewalk Studios, and their original multiplayer game will be an exciting addition to our portfolio,” said Hermen Hulst, Head of PlayStation Studios, Sony Interactive Entertainment. “We are committed to bringing a wide range of different gaming experiences to our platform and are excited to be working with a visionary studio like Firewalk to bring their truly ambitious experiences to life.”

“I am proud of the sustainable model we have created for our AAA studios to grow and prosper,” said Harold Ryan, CEO and founder of MaybeMonsters. “Firewalk Studios’ strategic partnership with PlayStation fits in perfectly with the premier pedigree and creative vision of the studio.”

“At Firewalk Studios, our goal is to create great collaborative experiences through multiplayer games,” said Tony Hsu, studio head at Firewalk Studios. “That goal is supported by both the world-class operations team at MaybeMonsters and a team at SIE who love games and are great supporters of our project and studio.”

Likely, Monsters announced and encouraged the growth of three game studios across genres, including Firewalk Studios, Cauldron Studios, the development of an AAA narrative game, and a next-generation co-op RPG studio. More details on MaybeMonsters and its studio family will be revealed in the coming months. To learn more about Firewalk Studios, visit firewalkstudios.com.

You are likely to follow Monsters on Twitter at @prblyMONSTERS and connect on LinkedIn at linkedin.com/company/probablymonsters.

About likelyMonsters Inc.

Likely, Monsters, a new category of game company, was founded in 2016 by former Bungie President and CEO Harold Ryan. Monsters is likely building a family of sustainable game studios that create and launch original AAA games using a people-first culture. Headquartered in Bellevue, Washington, the company has a strong cast of seasoned, innovative game development executives with a proven track record of launching blockbuster projects. It is likely Monsters’ mission to unite, guide and empower talented game developers to create extraordinary interactive experiences. The company has built and nurtured the growth of three studios, each with a unique player focus. Firewalk Studios is making an original AAA multiplayer game published exclusively by Sony Interactive Entertainment, Cauldron Studios is making an original AAA storytelling game and the third studio is working on a next generation co-op RPG project. Monsters probably has over 200 employees and continues to grow sustainably. For more information, visit likelymonsters.com.

Via Firewalk Studios

The purpose and aim of Firewalk Studios is to provide epic gaming entertainment based on great gameplay and inspirational art that captures the excitement of playing together. Firewalk Studios was founded in 2018 as part of the MaybeMonsters studio family and is run by a team of seasoned developers who know and love multiplayer games. Their experienced management team has created some of the greatest game and movie entertainment that has drawn millions of dedicated fans. These titles include Call of Duty, Destiny, Apex Legends, Mass Effect, Overwatch, The Avengers, Pacific Rim, Inside Out, Up, and Cars 2 “. Firewalk Studios is building a world class, next generation game studio that people come to first. The studio is taking a more sustainable approach to game development: this goes hand in hand with setting a high quality bar and treating each other with trust and respect. For more information, visit firewalkstudios.com.

Via Sony Interactive Entertainment

Sony Interactive Entertainment (SIE) is recognized as the world’s leading provider of interactive and digital entertainment and is responsible for the PlayStation® brand and the family of products and services. SIE has innovated since the original PlayStation was launched in Japan in 1994. The PlayStation family of products and services includes PlayStation®5, PlayStation®4, PlayStation®VR, PlayStation ™ Store, PlayStation®Plus and PlayStation ™ Video, PlayStation ™ Music, PlayStation ™ Now and acclaimed PlayStation software from PlayStation Studios. SIE is headquartered in San Mateo, California and is a wholly owned subsidiary of Sony Group Corporation. The company has global functions in California, London and Tokyo.

A Fairytale Partnership – Animation Initiatives Introduced by Massive Display Leisure Group, The Princess Community and Animation Renaissance

BEVERLY HILLS, Calif., February 26, 2021 (GLOBE NEWSWIRE) – Big Screen Entertainment Group (OTC: BSEG) is developing a variety of animation projects with its new production partner The Princess Network and the fast-growing animation Renaissance studio.

The new projects will be fairytale-like, leveraging the innovative work and cutting-edge technology on which Animation Renaissance boutique studio has built its growing reputation.

A feature film will be produced first with a fresh version of Cinderella, and the as-yet-untitled film will be co-directed by Catherine Taylor and Kimberley Kates.

The internationally renowned director Catherine Taylor is one of the most exciting newcomers in directing. She was helped on her rise to success by the British Academy of Film and Television Arts (BAFTA) new talent programs. She has made fashion films for stylish brands such as Tom Ford and Stella McCartney, and has gained recognition for her feature films and music videos.

Kimberley Kates is the chief executive of Big Screen and has driven the public company’s most recent expansion into streaming, content creation and acquisition. This is Big Screen’s first animated production in collaboration with its newest partner, the elegant lifestyle brand The Princess Network (www.theprincess.network).

“It will be amazing to share this wonderful opportunity to create animation magic and inspirational imagery together,” said Richard Culver, owner and director of Animation Renaissance in Thailand.

Thousands of variations of the Cinderella story have been told across the world for centuries, but the timelessly constant theme of a young woman rising above her circumstances is more relevant to this day than ever.

About animation renaissance:
An animation studio in Thailand run by film director Richard Culver. Animation Renaissance is known for its stunning graphics and its unique creative talent as an artist, which differs from other studios in that it is innovative, original and always at the cutting edge of technology.

About the Big Screen Entertainment Group (BSEG):
Beverly Hills-based Big Screen Entertainment Group is a 16 year old production and distribution company that continues to grow and develop into new business models in the rapidly changing media landscape.

Forward-Looking Statements: A number of the statements in the press release are forward-looking statements that are made under the safe harbor provisions of the Private Securities Litigation Act of 1995. These forward-looking statements involve a number of risks and uncertainties. This includes the timely development and market acceptance of products and technologies, competitive market conditions, the successful integration of acquisitions and the ability to secure additional sources of funding. In this press release, words such as “may,” “plan,” “estimate,” “expect,” “intend,” “may,” “potentially,” “should” and similar expressions are forward-looking statements.

Lorraine Lee
323.654.3400
Big@bigscreenent.com
Princess@theprincess.network

Mayor Fulop Proclaims Main Partnership with Leisure Large; $72M Restoration Plan will take Historic Loew’s Theatre to the Subsequent Stage

Mayor Fulop Announces Major Partnership With Entertainment Giant; The $ 72 million restoration plan takes the historic Löwstheater to the next level

Devils Arena Entertainment, operator of world renown Prudential Center and home of the New Jersey Devils, selected to restore and maximize music, performance and live event bookings at the 3,300-seat Iconic Theater

For renderings click on Here.

JERSEY CITY – Mayor Steven M. Fulop today announced a new partnership with Devils Arena Entertainment (DAE), the largest entertainment provider in New Jersey and operator of the Prudential Center, one of the ten most booked arenas in North America, to sign a unique $ 72 million agreement for the transformative restoration of the historic Loew’s Theater. The revitalization aims to transform the centuries-old theater into a state-of-the-art, 3,300-seat venue that will attract superstars and emerging artists, act as the engine of economic development and hub for the local Journal Square community, and expand Jersey City’s growing reputation as an unparalleled arts destination in the New Jersey.

“The restoration of the Löw is decades in the making, so I am encouraged and excited to work with Devils Arena Entertainment, a respected entertainment company and operator of the globally successful Prudential Center, to advance this monumental step in our commitment to restoring Löw Theater to its former glory, revitalizing Journal Square and growing our art community, ”he said Major Fulop. “This unique partnership signifies our long-term planning for a post-pandemic future in which we are confident that art and culture will be a staple of life.”

The majestic Loew’s Jersey will be an integral part of the revitalization and redevelopment of Journal Square – Jersey City’s historic downtown and one of the busiest transportation hubs in the area. Called once

When the Loew’s Theater opened in Jersey City more than 90 years ago, it was underutilized for decades after various roadblocks until the Fulop administration stepped in and worked with local residents and the community group Friends of the Loews (FOL) with the common goal to revive the local gem and discover its untapped potential.

Construction is expected to start in 2022 with an expected opening in 2025. Part of the agreement ensures that priority will be given to hiring local MWBE companies to revitalize the regional economy and get people back to work.

“Loew’s Jersey Theater is a cult community treasure that has long played a prominent role as the premier arts and entertainment venue in Jersey City. We are privileged to have the opportunity to work with Mayor Fulop, the Friends of the Löws and the local Journal Square community to bring this historic venue back to life, ”he said Hugh Weber, President of Devils Arena Entertainment. “As operators of the nearby Prudential Center, one of the top entertainment destinations in the United States, we understand the importance of live performance in electroplating communities and stimulating business. We envision Loew’s Jersey Theater as a catalyst to help the citizens of Northern Jersey literally get back on their feet to celebrate world-class art and music. “

“We look forward to actively working with JCRA to create a detailed restructuring agreement that leverages DAE’s expertise in commercial show management and marketing while implementing all of last summer’s RFP guaranteed by FOL” , he said Colin Egan, founder of Friends of the Loew’s. “This agreement will continue FOL’s role as a non-profit branch of the Lions. We will therefore continue our voluntary activities that enable direct community participation in the life and maintenance of this landmark, maintain our support for local arts and develop other non-profit groups, and offer affordable programs. Perhaps most importantly, we continue to ensure that as many people as possible have the opportunity to enjoy and benefit from the Löws, ”said Colin Egan, founder and director of the Friends of the Löws.

The Rehabilitation and Operations Agreement ensures that DAE, a trusted owner and operator of industry-leading venues, will work closely with Jersey City and Friends of the Loew to restore the iconic theater to a world-class arts and entertainment hub. The $ 72 million deal aims to optimize the venue’s performance for both artists and audiences, including:

  • Modernization of technology with state-of-the-art visual and acoustic improvements, as well as concessions and ticket sales areas;
  • Reconceptualization of entrances and exits at the front and rear of the house to meet ADA requirements and expand audience capacity;
  • Major infrastructure improvements (HVAC, plumbing, code requirements, electrical upgrades); and
  • Historical preservation of the control lamp for the stage lighting, the pop-up microphone and the orchestra and organ lifts.

Once opened, DAE will continue to work with Jersey City to provide yet another exceptional resource in support of the surrounding community.

***.

About Löws Theater

Loew’s Jersey is one of five “Wonder Theaters” built in the Tristate area in the late 1920s by Loew’s Corporation, which founded and owned MGM Studios and was one of the most important presenters of live stage shows and films at the time were. The five theaters were film palaces – a unique type of building that, as the name suggests, combined large seating capacities and some of the most elaborate architecture ever built with state-of-the-art film projection facilities, as well as stage and backstage facilities, and supported large-scale tours. Loew’s Corporation saved little money in building the five wonder theaters and made them exceptionally richly decorated and functional compared to many other film palaces. Loew’s Jersey cost $ 2,000,000 to build – a very large sum at the time.

The Loew’s early years hosted stage shows starring some of the greatest stars of the 1930s, including Cab Calloway, George Burns, Gracie Allen, and Duke Ellington. Movie stars like Judy Garland, Humphrey Bogart and Jean Harlow appeared there. In 1967 the four seasons gave a concert in the Löw.

In recent years, stars like Patti Labelle, Kurt Vile and Courtney Barnett, Yo La Tengo, Sufjan Stevens, the Neutral Milk Hotel, the Decemberists, The Duprees and Beck have taken the stage of the Löws. Authors George R. Martin and Stephen King and stars Nick Offerman, Anna Faris and Bryan Cranston all sat down to discuss their new books.

More recently, the theater has become a filming location for movies, television shows, and music videos. In 2018, the lion was used for scenes in the film The Joker, in which Joaquin Phoenix stars in an Oscar-winning performance.

Via Devils Arena Entertainment and Prudential Center

Devils Arena Entertainment is a subsidiary of the New Jersey Devils of the National Hockey League, which is responsible for the leasing, operation and maintenance of the Prudential Center. The Prudential Center is a premier sports and entertainment venue in downtown Newark, New Jersey. The state-of-the-art arena opened in October 2007 and is home to three-time Stanley Cup champion Devils of the National Hockey League (NHL), Seton Hall University’s NCAA Division I men’s basketball program, and more than 175 concerts of family shows and special events each year. The arena is also home to the GRAMMY Museum Experience Prudential Center, which opened its doors to the public in October 2017. The 8,200-square-foot experience marks the first outpost of the GRAMMY Museum on the East Coast and features a dynamic combination of educational programs and interactive permanent and traveling exhibits, including a look at legendary GRAMMY winners from New Jersey. Voted in the top 8 nationwide by Pollstar, Billboard and Venues Today, the Prudential Center is considered one of the premier venues in the United States and receives over 2 million guests annually. For more information about the Prudential Center, visit PruCenter.com. Follow the arena on Facebook, Twitter and Instagram @PruCenter.

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Candy Launches Broad-Scale NFT Answer for Main Leisure and Shopper Manufacturers in Partnership With Bitcoin.com

Sweet, in partnership with Bitcoin.com, introduces a comprehensive NFT solution for leading entertainment and consumer brands

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