With the recent word that Latitude 360, Inc. (OTCQB: LATX), the ultimate dining and entertainment destination, is expanding beyond its already successful three-venue footprint consisting of locations in Indianapolis (75,000 square feet), Jacksonville (50,000 square feet) and Pittsburgh (65,000 square feet), as management agreements have been signed and a LOI has been issued, to take over and subsequently acquire three more locations in New York and Pennsylvania – the company is well on its way to successfully executing its aggressive expansion strategy, which has the company launching three locations per year over the next four years. Much like the previous venues – such as the company’s massive Latitude 360 located in the Clearwater Crossings Shopping Center on Indianapolis’ north side, in one of the city’s most vibrant commercial areas, with direct access to the Keystone office complex and nearby upscale Simon-owned Fashion Mall – these three new locations have been selected for being located in thriving areas, which offer exceptional customer demographics.
More importantly, this move by the company to acquire existing, established locations, two of which are currently being run as upscale bowling, dining and entertainment venues under Frank Entertainment’s Revolutions brand, saves Latitude 360 considerable time and expense over new location build-outs. Two of the new locations will be transitioned to the Latitude 360 brand and begin operating as such by Q4 2015, giving the company immediate access to the host markets for revenue generation, and thus accelerating LATX’s overall expansion timeline significantly. The company’s decision to close via an all-equity transaction will further allow LATX to conserve capital momentum, while still providing the company with rapid expansion of its compelling upscale casual dining and state-of-the-art entertainment model’s footprint.
Integration and managerial takeover of these new locations will be assisted by the anticipated launch of Latitude 360’s daily fantasy sports offering, 360 Fantasy Live, which lets players compete for real money across a wide selection of daily and weekly game modes, all with tight social network integration, customizable user profiles and other online features, like leaderboards and analytics. The recent partnership with hard-hitting fantasy sports gaming network, Major League Fantasy, has poised LATX to capitalize on the booming $26 billion dollar (aggregate spend) fantasy sports market and will help to both attract new clients to its locations, which feature several HD screens to watch the game on, as well as giving existing patrons an exciting new option to go along with the numerous other entertainment offerings already available at a Latitude 360.
And what a menu of offerings there is indeed. With everything from gourmet dining and a full bar, to luxury bowling and a state-of-the-art game room with video games and ticket redemption games, as well as a dine in movie theater and HD sports theater, Latitude 360 has something for everyone in the neighborhood. Latitude 360 even has live music and a dance floor, as well as live comedy shows, booked around some of the hottest local or national acts in music and comedy today. The facility’s multiple networked HD screens also make Latitude 360 a great place to plan an executive luncheon, or take clients out to show them the latest proposal. This concept, which packs nearly everything you could want under one roof – whether it’s a birthday party for the kids, a night out with friends, or an executive meeting – has been sweeping customers off their feet since the company’s initial location launch, and that’s why management is so intent on expanding rapidly into other choice markets.
Get in while the getting is good, visit the company’s website to learn more www.latitude360.com
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