Latitude 360 (OTC: LATX) is surfing the wave of an industry that, according to a recent study, is growing at over 16% per annum and has been maintaining that rate over the past five years. The company is an award-winning, full-service upscale restaurant and leisure emporium that plans, develops, constructs and operates premier entertainment venues. At present it operates three such locations. The first was opened in January 2011 in Jacksonville, Florida; the second in November 2012 in Pittsburgh, Pennsylvania, and the third in Indianapolis in January 2013. The company plans to open three more locations. The first of these is slated for Syracuse at Destiny USA, the largest shopping center in the state of New York.
Latitude 360’s menu of entertainment options at its three locations includes a main restaurant (360 Grille & Bar), a luxury bowling alley (The Lanes), a dine-in movie theater (Cinegrille), a game room offering the latest hi-tech video and redemption games, a theater for live performances (Latitude Live), a sports theater with multiple HD screens, a luxury smoking lounge (Latitude Lit), and a dance arena (Axis Bar & Stage).
Latitude 360 is promoting a seminal idea. It aims to redefine the modern American entertainment experience by altering the mix and variety of entertainment options available at one venue. Latitude 360 is the Disneyland for adults. The company’s strategy is to create a one-stop entertainment shop where dining facilities, the movies, bowling, gaming, live entertainment or a sports bar can be found. The company recently launched its latest product offering, 360 Fantasy Live, in the highly lucrative fantasy sports market.
Fantasy sports allow sports fans to bet on the performance of their favorite players. Fantasy sports are fast becoming the sports fan’s stock market, since every fan that knows and loves his football can now put his knowledge to the test. The Fantasy Sports Trade Association (FSTA) reports that, currently, there are close to 57 million players of fantasy sports in the U.S. and Canada, each of whom spends, on average, $465 per year. That amounts to roughly $26.5 billion. The customer base for fantasy sports, according to the FSTA, has been growing at an annual compounded rate (CAGR), from 2010 to 2015, of over 12%. The typical fantasy sports player is male, around 37, and college educated, and about half earn more than $75,000. The industry has yet to realize its potential. It is now moving into sports other than football.
For more information on the company visit www.latitude360.com
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