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Hall of Fame Resort & Entertainment Company Inc. (HOFV) stock soars during current market. Here’s to know why?

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KAR Stock

Hall of Fame Resort & Entertainment Company Inc. (NASDAQ: HOFV) stock surged by 12.21% in the current market trading session. In collaboration with the Pro Football Hall of Fame, Hall of Fame Resort & Entertainment Firm is a resort and entertainment company that capitalizes on the strength and fame of professional football and its great players.

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What is happening?

Esports Entertainment Group and Hall of Fame Resort and Entertainment Company have announced a collaboration that will introduce esports to the Destination.

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EEG will now serve as the Village’s official esports distributor, operating a Helix eSports entertainment center which is a dynamic and ongoing esports complex that will accompany Topgolf Swing Suites and Don Shula’s as a key component of the destination’s a retail and entertainment offerings. This new facility, which is set to start in mid-2022, will function as a practice, competition, and tournament area for a range of esports activities and events, allowing HOFV to capitalize on the growing popularity of esports throughout the world. Including the location, this joint venture allows for the evaluation of additional growth in a number of many other business lines, including the possibility of esports betting and fantasy sports betting as legislators proceed to consider the possibility of legalizing sports betting in Ohio in the coming months.

Michael Crawford, President & CEO of HOFV stated,

HOFV is pleased to collaborate with the well-recognized EEG to provide followers a new state-of-the-art facility in the Village, given the success of esports and its sustained ascending trajectory. Having an EEG-powered esports complex on campus provides yet another appealing option for gaming fans and visitors to interact in virtual settings. In addition to allowing HOFV to attract followers from all over the world, both physically and electronically – it also provides them with strategic expansion prospects inside their gaming vertical.

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