Hall of Fame Resort & Entertainment Co. is "pushing ahead with plans" for a resort centered around the Pro Football HOF in Canton, Ohio, according to Konrad Putzier of the WALL STREET JOURNAL. The resort is slated to "include a football-themed water park, hotels, retail space, a research building and, ultimately, apartments." HOF Resort & Entertainment President & CEO Michael Crawford and his investment group have already "completed a stadium and sports complex on the site," and they "hope to break ground on the development’s $300 million second phase later this year." Crawford "declined to comment on the resort’s total costs." The company recently "bought a hotel in downtown Canton that it is renovating," and it also "acquired a majority stake in a fantasy football league." Crawford said that he "hopes branching out into sports betting and esports will help reassure investors at the same time hotels and theme parks are attracting few guests," adding that he "plans to develop original content, including a television show about young football players trying to become professionals." Putzier noted last month, HOF Resort & Entertainment "raised capital through an unconventional method: It went public by merging with what is known as a blank-check company, Gordon Pointe Acquisition Corp." Crawford said that the developers "initially planned to raise" between $60-80M following the merger, but only raised $31M after some of Gordon Pointe's shareholders "backed out of the deal during the pandemic" (WALL STREET JOURNAL, 8/5).
