Hall of Fame Resort & Entertainment Company has recorded a second quarter net loss of $9.1m.
Despite reporting a revenue increase of 14%, up from $2.4m to $2.7m, rising expenses and a significantly lower sum gained through a “change in fair value of warrant liability” pushed Hall of Fame into the red on a year-over-year basis.
The company saw a net income of $15.5m turn into a net loss of more than $9m. However, Q2 of last year does not necessarily offer a favourable comparison.
The majority of the prior-year period’s profit was generated from a $26.3m sum gained through the aforementioned change. When Hall of Fame’s half-year results are compared, a much more favourable picture is painted.