Company signs multi-year lease agreement in
The Company anticipates opening its first karaoke venue by summer 2024 with goals to open multiple locations throughout the country. The NoMad venue, which will serve as the flagship location, is expected to deliver an unprecedented combination of immersive karaoke technology and stunning audio-visual capabilities, enhanced by a highly curated, upscale food and beverage selections. Guests will be able to partake in these amenities through a variety of options within the venue, including luxurious private karaoke rooms, elevated dining options, and a lively bar, featuring a curated mixology menu.
For those seeking a one-of-a kind karaoke experience, the venue will feature a public performance stage with a focus on immersive experiences. The entire karaoke experience will be driven by a sophisticated, highly interactive app.
“We believe the karaoke hospitality market in
“We see this as a logical extension into a fast-growing market with a highly scalable model, where we can fully leverage our industry-leading karaoke technology, our innovation capabilities, and our global reach to best capitalize on this opportunity. We undertook a rigorous site selection process, where we wanted a specific venue centrally located in a neighborhood that is well-established as a vibrant, up-and-coming entertainment destination that is densely residential and heavily touristed. NoMad met all of our key demographic criteria.”
“We are thrilled with the selection of NoMad for our first location and accomplishing the first critical milestone in the launch of this new business segment,” concluded
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Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Words such as "may", "could", "expects", "projects," "intends", "plans", "believes", "predicts", "anticipates", "hopes", "estimates" and variations of such words and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks and are based upon several assumptions and estimates, which are inherently subject to significant uncertainties and contingencies, many of which are beyond the Company's control. Actual results may differ materially from those expressed or implied by such forward-looking statements. Factors that could cause actual results to differ materially include, but are not limited to, the risk factors described in the Company's filings with the
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