VENU's Board of Directors Authorizes Share Repurchase Program
Venu Holding Corporation's ("VENU" or the "Company") (NYSE:VENU) today announced its Board of Directors has approved a share repurchase program authorizing the Company to repurchase up to $10 million of its common stock through December 31, 2026.
The timing, manner, price and amount of any share repurchases will be determined by the Company's management based on various factors, such as available liquidity, cash flows and general market conditions. Any repurchases will be subject to federal and state laws governing such transactions, and may be effected through a variety of methods, which may include open market purchases, privately negotiated transactions, block trades, accelerated share repurchase transactions, purchases through 10b5-1 trading plans, or by any combination of such methods. The authorization does not obligate the Company to acquire any particular amount of common stock and the program may be suspended or discontinued at the Company's discretion without prior notice.
With respect to the repurchase program, VENU's Founder, Chairman, and CEO J.W. Roth stated:
"Today our Board of Directors approved a share repurchase program of up to $10.0 million. This share repurchase program demonstrates our commitment to creating, enhancing, and returning value to shareholders, and allows VENU to buy shares when we view them as undervalued – particularly in periods of market dislocation. We are unequivocal in our belief that our share price does not reflect the true value of VENU. We have a strong balance sheet, a solid cash position, and a portfolio of substantial real estate assets that we carry at zero basis. And recently we received independent, third-party appraisals of all our existing properties that reported a total appraised value of those properties on an as-completed basis of nearly $1.0 billion (1). We believe that the Company's underlying value is simply not reflected in our current market capitalization. As the market continues to fluctuate, we're positioning ourselves to deliver the value our shareholders deserve and further strengthen our financial footing at the same time."
Venu recently reported its third quarter 2025 financial results, highlights from which include:
- Total assets increased to $314.8 million, up $136.3 million or 76%, as of September 30, 2025, from $178.4 million at December 31, 2024.
- Property and equipment increased to $250.2 million, up $113.0 million or 82%, as of September 30, 2025, from $137.2 million at December 31, 2024.
- The Company generated net revenue (defined as profit after Venu's split with AEG Presents Rocky Mountains ("AEG"), the operator of the amphitheater), with receipts from the Company's naming rights agreements (which are outside of VENU's AEG partnership agreement), of $1,999,169 compared to $1,606,573 for the three months ended September 30, 2025 and 2024, representing an increase of $392,596 or approximately 24% year over year for the same period.
- The Company generated net revenue (defined as profit after Venu's split with AEG, the operator of the amphitheater), with receipts from the Company's naming rights agreements (which are outside of VENU's AEG partnership agreement), of $2,768,463 compared to $1,606,573 for the nine months ended September 30, 2025 and 2024, representing an increase of $1,161,890 or approximately 72% year over year for the same period.
About Venu Holding Corporation
Venu Holding Corporation ("VENU") (NYSE:VENU) is a premier owner, developer, and operator of luxury, experience-driven entertainment destinations. Founded by Colorado Springs entrepreneur J.W. Roth, VENU has a portfolio of premium brands that includes Ford Amphitheater, Sunset Amphitheaters, Phil Long Music Hall, The Hall at Bourbon Brothers, Bourbon Brothers Smokehouse and Tavern, Aikman Owners Clubs, and Roth's Sea & Steak. With venues operating and in development across Colorado, Georgia, Oklahoma, and Texas and a nationwide expansion underway, VENU is setting a new standard for live entertainment.
VENU has been recognized nationally by The Wall Street Journal, The New York Times, Billboard, VenuesNow, and Variety for its innovative and disruptive approach to live entertainment. Through strategic partnerships with industry leaders such as AEG Presents, NFL Hall of Famer and Founder of EIGHT Elite Light Beer, Troy Aikman, Aramark Sports + Entertainment, Tixr, Niall Horan, and Dierks Bentley, VENU continues to shape the future of the entertainment landscape. For more information, visit VENU's website, Instagram, LinkedIn, or X.
Forward Looking Statements
Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While Venu believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the company's filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. Venu expressly disclaims any obligation to update or alter statements whether because of new information, future events or otherwise, except as required by law.
(1) Appraisals: These appraisals used the cost basis, income, and comparable sales approaches to valuation and, after reconciliation, came to the appraised values of the properties. These approaches to valuation are commonly used approaches to value for appraisal of commercial properties, as opposed to assigning a valuation on the properties based solely on the cost basis of the properties. The total appraisal for the Colorado Springs campus includes a 5.5-acre parking lot that was later sold through a sale-leaseback transaction in November 2025 for $14 million. At the time of the original appraisal, that parcel was valued at $9.2 million.
It is important to understand that the appraisal of VENU's properties takes into account, among other factors, the valuation of the Company's real estate and developments at a specific point in time, and the appraised value is subject to (and likely to) change at any time, whether it increases or decreases, and such changes could be caused by macro and micro factors over which we have no control. The appraisal of the property portfolio is only an estimate of its value as to the date of the appraisal and based only on the specific appraisal methodologies and should not be relied upon as a measure of its realized value or the value at which any property could be sold to a third party. Other appraisal methodologies may yield materially different appraised value. Furthermore, the appraised value of the properties differs from the values assigned to it under generally accepted accounting principles in the United Stated ("GAAP"), which require the values of the properties to be valued at their cost basis for financial presentation purposes, and therefore the appraised values represent an unaudited measure that may not represent fair value, as defined under GAAP, and such values and appraisals are not, and will not be, subject to audit or other review procedures by our outside independent accountants.
The opinions expressed in the appraisal are based on estimates and forecasts that are prospective in nature and subject to certain risks and uncertainties. Events may occur that could cause the performance of the properties to materially differ from the estimates utilized by the appraiser, such as changes in the economy, interest rates, capitalization rates, the financial strength of the live-music and entertainment industries, and the behavior of event attendees, investors, lenders, and municipalities. The Company reviews each appraisal of its properties to confirm that the information provided to the appraiser is accurately reflected in the appraisal, but it does not validate the methodologies, inputs, and professional judgment utilized by the certified appraiser.
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VENU Media and Investor Relations
Chloe Polhamus, [email protected]