Venu Holding Corporation Reports Its Annual 2025 and Fourth Quarter Results

COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--Mar 31, 2026--

Venu Holding Corporation ("VENU" or the "Company") (NYSE American: VENU), the visionary owner, operator, and developer of premium live entertainment destinations, announced today results for its fourth quarter and fiscal year ended December 31, 2025

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"From the very beginning, we made a commitment,” said JW Roth Founder, Chairman, and CEO of VENU, “To build something that would stand the test of time, perform at the highest level, and deliver value that speaks for itself. Today, we are doing exactly that.

"The numbers tell the story. Our balance sheet has grown from $83 million to over $370 million in total assets in just 24 months. An independent appraisal of our completed and in development portfolio came in at $1.24 billion on an as completed basis (1). This is a business grounded in tangible assets, measured expansion, and thoughtful capital deployment. Patient capital wins. And we are building this for the long game.

We know the market has been noisy. That is what early stages can look like for companies doing what we are doing. But here is what does not lie: steel went up in McKinney and Tulsa. Tulsa is targeted to open Fall 2026 and McKinney shortly after in Q1 2027. We opened our Sunset Hospitality Collection, the most sophisticated hospitality complex in our history. Luxe FireSuite TM sales broke records again, and our triple net model, which barely existed at the start of 2025, already accounts for 25% of total sales. The market didn't just respond. It leaned in.

"The live entertainment industry is evolving fast, and we are positioned to capitalize with residencies, immersive experiences, and AI-driven activations. The most profitable opportunities are going to the venues built to hold all of it. Our more than music strategy is not a pivot. It is how we stay ten steps ahead.

"We grew our team with people who have seen what winning looks like and chose VENU anyway. World-class artists and athletes are becoming shareholders. Municipalities are knocking. And just this week we added an executive from MSG Entertainment and Sphere, because where we are going demands that level of firepower.

"2026 is already proving the point. PepsiCo signed on as our official beverage partner. Ford Amphitheater made Billboard's 2026 Top Music Venues list. Roth's Sea & Steak was recognized among the best wine programs in the Americas. And remember, our most recent capital raise closed during one of the most volatile market stretches in recent memory. That is conviction.

"The people paying attention right now are going to look back on this moment. The venues are coming. The content is evolving. The model is proven. The market is hungry. And we are just getting to the good part.”

Financial Highlights for the Fourth Quarter and Full Year Ended December 31, 2025

Operational and Strategic Highlights for Q4 2025 and the Full Year 2025:

Venue Development

Content & Experience Innovation

Luxe FireSuiteTM& Capital Innovation

Team & Leadership

Market Recognition & Brand

Subsequent Events: January through March 2026

Conference Call Details

About Venu Holding Corporation

Venu Holding Corporation ("VENU") (NYSE American: 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) Appraisal Disclosures

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.

 

VENU Reports Its Annual 2025 and Fourth Quarter Results

WASHINGTON (AP) — Citing the First Amendment, a federal judge on Tuesday agreed to permanently block the Trump administration from implementing a presidential directive to end federal funding for National Public Radio and the Public Broadcasting Service, two media entities that the White House has said are counterproductive to American priorities.

The operational impact of U.S. District Judge Randolph Moss' decision was not immediately clear — both because it will likely be appealed and because too much damage to the public-broadcasting system has already been done, both by the president and Congress.

Moss ruled that President Donald Trump’s executive order to cease funding for NPR and PBS is unlawful and unenforceable. The judge said the First Amendment right to free speech “does not tolerate viewpoint discrimination and retaliation of this type.”

“It is difficult to conceive of clearer evidence that a government action is targeted at viewpoints that the President does not like and seeks to squelch,” wrote Moss, who was nominated to the bench by President Barack Obama, a Democrat.

White House spokesperson Abigail Jackson said Moss' decision is “a ridiculous ruling by an activist judge attempting to undermine the law.”

“NPR and PBS have no right to receive taxpayer funds, and Congress already voted to defund them. The Trump Administration looks forward to ultimate victory on the issue,” Jackson said in a statement.

PBS, with programming ranging from “Sesame Street” and “Mister Rogers’ Neighborhood” to Ken Burns’ documentaries, has been operating for more than half a century. NPR has news programming from “All Things Considered” and cultural shows like the “Tiny Desk” concerts. For decades, the fates of both systems have been part of a philosophical debate over whether government should help fund their operations.

The judge noted that Trump’s executive order simply directs that all federal agencies “cut off any and all funding” to NPR, which is based in Washington, and PBS, based in Arlington, Virginia.

“The Federal Defendants fail to cite a single case in which a court has ever upheld a statute or executive action that bars a particular person or entity from participating in any federally funded activity based on that person or entity’s past speech,” the judge wrote.

Last year, Trump, a Republican, said at a news conference he would “love to” defund NPR and PBS because he believes they’re biased in favor of Democrats.

“The message is clear: NPR and PBS need not apply for any federal benefit because the President disapproves of their ‘left wing’ coverage of the news,” Moss wrote.

NPR accused the Corporation for Public Broadcasting of violating its First Amendment free speech rights when it moved to cut off its access to grant money appropriated by Congress. NPR also claims Trump wants to punish it for the content of its journalism.

“Public media exists to serve the public interest — that of Americans — not that of any political agenda or elected official,” said Katherine Maher, NPR’s president and CEO. She called the decision a decisive affirmation of the rights of a free and independent press.

PBS chief Paula Kerger said she was thrilled with the decision. The executive order, she said, is “textbook” unconstitutional viewpoint discrimination and retaliation. “At PBS, we will continue to do what we’ve always done: serve our mission to educate and inspire all Americans as the nation’s most trusted media institution.”

Last August, CPB announced it would take steps toward closing itself down after being defunded by Congress.

Plaintiffs’ attorney Theodore Boutrous said Tuesday's ruling is “a victory for the First Amendment and for freedom of the press.”

“As the Court expressly recognized, the First Amendment draws a line, which the government may not cross, at efforts to use government power — including the power of the purse — ‘to punish or suppress disfavored expression’ by others,” Boutrous said in a statement. “The Executive Order crossed that line.”

The judge agreed with government attorneys that some of the news outlets’ legal claims are moot, partly because the CPB no longer exists.

“But that does not end the matter because the Executive Order sweeps beyond the CPB,” Moss added. “It also directs that all federal agencies refrain from funding NPR and PBS — regardless of the nature of the program or the merits of their applications or requests for funding.”

NPR and three public radio stations sued administration officials last May. While Trump was named as a defendant, the case did not include Congress — and the legislative body has played a large role in the public-broadcasting saga in the past year.

Trump’s executive order immediately cut millions of dollars in funding from the Education Department to PBS for its children’s programming, forcing the system to lay off one-third of the PBS Kids staff. The Trump order didn’t impact Congress’ vote to eliminate the overall federal appropriations for PBS and NPR, which forced the closure of the Corporation for Public Broadcasting, the entity that funneled that money to the TV and radio networks.

AP Media Writer David Bauder and AP writer Darlene Superville contributed to this report.

FILE - National Public Radio (NPR) on North Capitol Street in Washington, April 15, 2013. (AP Photo/Charles Dharapak, File)