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VENUE-MANAGEMENT COMPANIES LOOK TO EXPAND ABROAD
Published December 20, 1994
American venue-management companies are looking to expand their operations to foreign markets, where government-managed facilities that cater to large markets could give these companies large earning potential. Ogden Corp. and Spectacor Management Group (SMG) have been leaders in exoanding into foreign markets, with ventures ranging from arenas in London and Oslo to Australia and Japan. Latin American expansion is also on the menu, with large markets having a "huge" potential upside, translating "into big dollars." While most markets in Europe and Latin America currently have an arena and stadium these facilites usually generate less money than their American counterparts because of the lack of "top shelf concession stands, premium seats and space for inbuilding billboards." This could change with the sports- management expectations of expansion into European and Latin American markets by the "top four" American sports -- baseball, basketball, football and hockey. Manuel Marrerro, Ogden Director of Business Development for Latin America: "This is not a stab in the dark. ... We have a strategy, we have a commitment" (Eric Conrad, Ft. Lauderdale SUN-SENTINEL, 12/20).