ASM Global takes a slice of VenuesLive pie

Article posted by Coliseum, October 11^th, 2019

Image: ASM Global / VenuesLive

In a significant business move since it was formed earlier this week, facility management and venue services company ASM Global (ASM) has acquired a 25 per cent stake in Sydney-based stadium operator VenuesLive.

The shareholding has been acquired by ASM from technology company Techfront Australia. The deal has been approved by the Government owners of the three main stadia in VenuesLive’s portfolio. These are the 83,500-seat ANZ Stadium and 30,000-seat Bankwest Stadium in Sydney, as well as the 60,000-seat Optus Stadium in Perth.

Following the investment, the Chairman and head honcho of ASM Global in the Asia-Pacific region, Harvey Lister, will join the board of VenuesLive. Current Directors and joint majority shareholders Daryl Kerry and Steve Heytman will hold the reins of the day to day business of the company.

Onex-owned venue management services company SMG and AEG Facilities joined forces recently to form ASM. AEG Facilities is the venue management subsidiary of sports and entertainment giant AEG.

A confident Lister said that with ASM acquiring a stake in VenuesLive, venues in Australia will witness more family entertainment, sport content and world-class music.

Currently, ASM manages the following venues in Asia-Pacific – 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, and the recently opened 17,000-seat Coca-Cola Arena in Dubai.

The company also manages mid-sized arenas in Brisbane, Newcastle, Cairns, Darwin and soon Christchurch. It also runs the show in 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.

Managing Director of VenuesLive Kerry stated, “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.”

Bob Newman, President and CEO of ASM Global, remarked, “The new shareholding arrangement would offer VenuesLive the opportunity to benefit from ASM’s worldwide network of partnerships with leading entertainment and sports providers.”

He added, “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.”

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