We are a newly formed special purpose acquisition company organized for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination. We completed our initial public offering in December 2017, raising $200 million. We are seeking an initial business combination with one or more businesses in the leisure industry, including the gaming, recreation, travel and lodging sectors. We will look to pursue opportunities where we can identify a catalyst for growth.
While we may pursue an acquisition opportunity in any industry or sector, we intend to focus on the location-based leisure sector and leisure-related businesses, which complements our management team’s sector and operating expertise. The leisure sector and leisure-related businesses are primarily comprised of companies providing consumer discretionary goods and services. Target businesses that we are focused on in this sector include, but are not limited to, those in the gaming, travel and recreation subsectors. We believe that the experience and capabilities of our management team will make us an attractive partner to potential target businesses, enhance our ability to complete a successful business combination, and bring value to the business post-business combination. Not only does our management team bring a combination of operating, investing, financial and transactional experience, but also members of our management team have worked closely together in the past at multiple leisure-oriented companies, creating value for stockholders.
We have identified the following general criteria and guidelines that we believe are important in evaluating prospective target businesses. We use these criteria and guidelines in evaluating acquisition opportunities, but we may decide to enter into our initial business combination with a target business that does not meet these criteria and guidelines. Continue reading “Criteria and Guidelines”
Our management team is led by A. Lorne Weil, our Executive Chairman, and Daniel B. Silvers, our Chief Executive Officer.
Mr. Weil’s and Mr. Silvers’ careers have centered on identifying and implementing value creation initiatives, often through acquisition (or other transaction means) within the leisure-centric industries. Strategies that they have collectively pursued in the course of these initiatives have included:
(i) cost management and productivity enhancement, and reinvesting the savings behind product innovation, marketing, and brand building;
(ii) the integration of available technology, and the development of new technology, to deliver improved product offerings and
(iii) assessment of existing business lines to identify opportunities to acquire complementary businesses which they believe are capable of leading to substantial revenue synergies.