Business
American Leisure Holdings, Inc.'s GG Media Network Enters Negotiations with Hollywood Riviera for Equity Swap to Include Participation Stake in $4.5 Million in Annual Revenues
American Leisure Holdings, Inc.'s GG Media Network Enters Negotiations with Hollywood Riviera for Equity Swap to Include Participation Stake in $4.5 Million in Annual Revenues.
About this update from American Leisure Holdings, Inc.
[{"type":"text","content":"\n \n \n American Leisure Holdings, Inc.'s GG Media Network Enters Negotiations with Hollywood Riviera for Equity Swap to Include Participation Stake in $4.5 Million in Annual Revenues\n \n \nAmerican Leisure Holdings, Inc.'s GG Media Network Enters Negotiations with Hollywood Riviera for Equity Swap to Include Participation Stake in $4.5 Million in Annual Revenues\n \n LAS VEGAS, NV--(Marketwired - Jun 5, 2017) - American Leisure Holdings, Inc.'s GG Media Network (OTC: AMLH) is pleased to announce the Company has entered into negotiations with Hollywood Riviera Studios to partake in an equity swap. The agreement is designed to stimulate near-term growth and increase shareholder value as the Company works to establish a competitive advantage in the overall esports industry.\n \"We are building an esports production company for gamers, fans and enthusiasts who expect high-quality content on any platform at any time,\" said Christian Bishop, chief executive officer, GG Media Network. \"Hollywood Riviera Studios shares our vision. We look forward to continuing our strong, productive relationship as we make significant strides in the delivery of programming that is fresh, entertaining and engaging.\"\n Current terms under discussion include the Company receiving up to a 25 percent participation stake in Hollywood Riviera Studios' studio production and mobile business which yields annual revenues of approximately $4.5 million. \n \"GG Media Network has an exciting vision for what it wants to achieve in the esports industry,\" said Rolando Nichols, chief executive officer, Hollywood Riviera Studios. \"As a business leader and entertainment industry veteran, I see the potential esports has to capture and hold the attention of an audience. I am excited to be working with a company on the leading edge of innovative program development and content delivery.\" \n According to recent reports, including the Newzoo 2017 Global Esports Market Report issued in February, the coming year will see the esports Economy grow to $696 million, a year-over-year increase of 41.3 percent. Over the course of the year, non-endemic brands are expected to spend $517 million across three areas:\n \n \n $155 million, advertising\n \n$266 million, sponsorship\n \n$95 million, media rights\n \n \n By 2020, non-endemic brand investment in esports is expected to do...