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COLORADO SPRINGS - Venu Holding Corporation (NYSE American:VENU) announced Tuesday the appointment of Tom Ashley as President of VENU Real Estate and Development to lead the company’s nationwide expansion efforts. The announcement comes as VENU’s stock has shown strong momentum, with a nearly 30% price return over the past six months and a market capitalization of approximately $485 million.
Ashley, who previously served as CEO of HighAltitude Equipment in Colorado Springs and held executive leadership roles at regional banking institutions in Colorado and Kansas, will oversee real estate acquisitions, construction financing, and project developments. He will also manage the company’s three-year expansion agreement with Ryan, LLC, which aims to deliver eight new strategic markets annually. According to InvestingPro data, VENU’s revenue grew by 20.5% in the last twelve months, though analysts note the company is currently burning through cash while maintaining a moderate debt level.
"This role is a once-in-a-lifetime opportunity for my family and me," Ashley said in the press release. "I’m excited to help bring VENU’s vision to life by building iconic, state-of-the-art facilities that communities can be proud of for years to come."
J.W. Roth, Founder, Chairman, and CEO of VENU, cited Ashley’s "seasoned expertise, deep relationships in real estate finance, and a strong understanding of the development process" as key qualifications for the position.
VENU Holding Corporation develops and operates upscale live music venues and hospitality destinations, with existing campuses in Colorado Springs, Colorado, and Gainesville, Georgia. The company is currently expanding with new multi-season Sunset Amphitheaters in Oklahoma and Texas.
The appointment comes as part of VENU’s strategy to strengthen its organizational structure while accelerating national expansion. According to the company statement, this leadership change aligns with VENU’s focus on sustainable growth and delivering value for shareholders. While VENU maintains strong liquidity with a current ratio of 2.72, InvestingPro analysis indicates the stock is currently trading above its Fair Value, with 13 additional ProTips available to subscribers covering everything from profitability outlook to market valuation metrics.
In other recent news, Venu Holding Corporation has reported several significant developments. The company announced the launch of an 8.0% convertible preferred stock offering, allowing both accredited and non-accredited investors to purchase shares with potential dividends. This initiative aims to expand Venu’s ownership model within the live entertainment market. Additionally, Venu has formed strategic partnerships with Aramark Sports + Entertainment and Billboard. The collaboration with Aramark involves managing food, beverage, and facilities at Venu locations, while the partnership with Billboard includes a three-year live music initiative. Venu is also set to join the Russell 3000 Index, a move expected to enhance the company’s visibility in the stock market. The company continues to expand its venue portfolio, with new amphitheaters planned in Oklahoma and Texas. Furthermore, Venu’s nonprofit foundation has awarded community grants to support music education and public art installations. These developments reflect Venu’s ongoing strategy to strengthen its presence in the entertainment industry.
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