Canton Repository
CANTON − The Hall of Fame Resort & Entertainment Co. collected $7.5 million in revenue during the third quarter of this year, about $1.24 million less than the same quarter last year, according to its quarterly report.
The company, which oversees the Hall of Fame Village development, filed its third-quarter report on Wednesday without the usual accompanying press release or presentation. It’s unclear if there will be an earnings call.
Highlights from the quarterly SEC filing include:
- Overall operating expenses totaled about $14.6 million in the third quarter, compared to $18.7 million the prior year.
- The company reported a net loss of $4.42 million, compared to $16.1 million in the third quarter last year.
- On a per-share basis, the loss amounted to $0.72 for the third quarter. The loss was $2.89 for the same period last year.
- Revenue from events, rents, restaurants and other unnamed sources totaled $4.63 million, about $1.12 million less than the third quarter of last year. “The decrease was primarily due to a change in number of our large scale events in 2024 compared to 2023 as well as a decrease in revenue from our on-site restaurant,” the report states.
- Hotel revenue from the DoubleTree by Hilton in downtown Canton also decreased 5% year over year to $2.17 million because of lower occupancy. Meanwhile, hotel operating expenses increased 1.8% to $1.84 million “primarily driven by increased labor and supply costs,” according to the report.