Latitude 360 combines premier upscale casual dining with state-of-the-art entertainment to create cutting-edge destinations that appeal to a broad base of consumers and corporate clients. The company currently owns and operates three award-winning venues in Jacksonville, FL; Pittsburgh, PA; and Indianapolis, IN, and it plans to open an additional location in Albany, NY in the coming months. Patrons at Latitude 360 locations have access to a wide variety of dining and entertainment options – including the 360 Grille, the AXIS Bar & Stage, a bowling alley, a game room, an HD sports theater and a dine-in live performance theater.
In recent weeks, Latitude has taken steps toward expanding upon its proven entertainment formula through the planned acquisition of Major League Fantasy, the first and only daily fantasy product with a fully-integrated social network. When completed, this acquisition would give Latitude a platform upon which to establish a strong position in the daily fantasy gaming industry, which is expected to be a $10 billion market by the end of 2016.
“With the potential acquisition of Major League Fantasy, we’re excited to incorporate the best fantasy sports experience into Latitude 360’s unmatched entertainment and dining experience,” Brent Brown, chief executive officer of Latitude 360, stated in a news release. “We at Latitude 360 see it as something our sports fan patrons will definitely enjoy… and our HD sports theaters are a perfect venue for the ‘360 Fantasy LIVE’ daily fantasy sports experience.”
In the first quarter of 2015, Latitude successfully leveraged the marketability of its entertainment destinations to record strong financial results. The company’s gross sales for the period were $6.4 million, which was a 19 percent year-over-year improvement. Additionally, Latitude realized a 4.4 percent increase in net sales, as compared to the first quarter of 2014. These results were bolstered by the company’s entry into the international market, as it signed an international franchise agreement to license its concept for a new location in Qatar.
Moving forward, Latitude will look to continue building on its recent industry growth in order to promote sustainable returns in the future. As the company continues to add revenue through the sale of premium memberships to its locations, it is in a strong position to capitalize on the overall stability of the restaurant industry. For prospective shareholders, Latitude’s recent performance makes it a viable investment option that offers the possibility of tremendous upside for the foreseeable future.
For more information, visit www.latitude360.com