ASM Global today announced a strategic investment of a 25% shareholding in Sydney-based Stadium operator VenuesLive from Techfront Australia.
This announcement marks ASM Global’s further expansion in the Australian market.
ASM Global, the premier venue management and services company, was formed through the merger of AEG Facilities and SMG.The company spans five continents with a broad and diversified portfolio of more than 300 of the world’s most prestigious arenas, stadiums, convention and exhibition centers and performing arts venues.
Harvey Lister, Chairman and CEO of ASM Global in the Asia Pacific region, said that ASM Global’s investment in VenuesLive was an exciting development that would guarantee more world-class music, family entertainment and sport content across a greater number of venues throughout Australia going forward.
As a result of this investment, Mr. Lister will join the Board of VenuesLive although the day to day business of the company will remain under the direction of current directors and joint majority shareholders Daryl Kerry and Steve Heytman.
In Asia Pacific, ASM Global currently manages the 12,000 seat Brisbane Entertainment Centre, the 52,500 seat Suncorp Stadium, the 21,000 seat Qudos Bank Arena in Sydney, the 8,500 seat First State Super Theatre at ICC Sydney, the 15,000 seat RAC Arena in Perth, the recently opened 17,000 Coca Cola Arena in Dubai; mid-sized arena spaces in Brisbane, Newcastle, Cairns, Darwin and soon Christchurch; and convention and exhibition venues in Sydney, Brisbane, Cairns, Darwin, Newcastle, Christchurch, Kuala Lumpur and Muscat in Oman. The company is also the proponent for the 18,000 capacity Brisbane Live arena in the State’s capital.
VenuesLive is a leading provider of management and hospitality services to venues and events. It operates three of Australia’s most iconic stadiums – the 83,500-seat ANZ Stadium (soon to undergo a major refurbishment) and the 30,000-seat Bankwest Stadium in Sydney, as well as the 60,000-seat Optus Stadium in Perth.
Approval for the acquisition has been granted by the government owners of the three stadiums.
Bob Newman, President and CEO of ASM Global, said the new shareholding arrangement would offer VenuesLive the opportunity to benefit from ASM Global’s worldwide network of partnerships with leading entertainment and sports providers which will bring high profile content to the region.
“The real winners from these developments are the fans who will be able to access a greater range of world-class content, services, amenities and technologies in more venues than ever before, across Australia,” Mr. Newman said.
Daryl Kerry, Managing Director of VenuesLive, welcomed the investment by ASM Global.
“We are excited about ASM Global’s investment in VenuesLive.We look forward to the benefits that ASM Global’s investment in VenuesLive will bring, particularly in delivering additional events to the stadia we manage,” Mr Kerry said.
About ASM Global
ASM Global is the world’s leading venue management and services company.The company was formed by the combination of AEG Facilities and SMG, global leaders in venue and event strategy and management.The company’s elite venue network spans five continents, with a portfolio of more than 300 of the world’s most prestigious arenas, stadiums, convention and exhibition centers, and performing arts venues. From Aberdeen to Anchorage, and Sydney to Stockholm, its venues connect people through the unique power of live experiences.
ASM Global’s diverse portfolio of clients benefit from the company’s depth of resources and unparalleled experience, expertise and creative problem-solving. Each day, the company’s 61,000 passionate employees around the world deliver locally tailored solutions and cutting-edge technologies to deliver maximum results for venue owners, and operations, and amazing experiences for guests. By consistently looking for new ways to envision, innovate and empower the spaces and places that bring people together, ASM Global elevates the human spirit while delivering the highest value for all stakeholders. For more information, please visit www.asmglobal.com.
Date: 3rd October, 2019
Group Communications Manager,
ASM Global (Asia Pacific)
on +61 7 3331 5162 or +61 419729972