Tix Corporation Celebrates Seven Years in Las Vegas with Tix4Tonight Expansion
LAS VEGAS-(Business Wire)-September 10, 2009 - Tix Corporation (Nasdaq: TIXC) today announced “Lucky Sevens at Tix4Tonight,” a promotion celebrating the Company’s seventh year of operation in Las Vegas and the opening of its seventh Tix4Tonight discount ticket outlet.
Tix Corporation is celebrating these two milestones by awarding free tickets to top Las Vegas shows, dinner packages to popular Las Vegas restaurants and a ribbon-cutting ceremony at the latest Tix4Tonight site later this month. The new Tix4Tonight outlet is located at the heavily trafficked area in the Casino Royale Casino and Hotel, which is in close proximity to the Mirage, the Venetian and Harrah’s.
Open daily at 10 AM, Tix4Tonight offers same-day tickets to more than 70 Las Vegas shows and attractions at discounts of up to half off the box office price. Each location also offers discount tee times through Tix4Golf and discount meals through Tix4Dinner, which typically books more than 30,000 restaurant reservations each month at popular Las Vegas restaurants.
“We’re excited to be celebrating seven years of delivering the very best of Las Vegas at Tix4Tonight,” said Mitch Francis, chairman and CEO, Tix Corporation. “Like all Tix Corporation offerings, Tix4Tonight is about being responsive to the public’s demand for high-quality, affordable entertainment. With approximately 115,000 discount show tickets sold every month, Tix4Tonight makes significant contributions to the Las Vegas economy and this segment is an integral part of our Company’s growth story.”
In recently announced second-quarter results, the company’s Tix4Tonight business segment increased the number of discount show tickets sold in the second quarter by 35% to 341,000 tickets. The gross sales value of discount show tickets sold, commissions and fees earned on the sale of discount tickets to customers increased 53%, to $19.5 million, and revenue grew 47% to $4.1 million during the quarter. Tix Corporation expects continued revenue growth and improved profitability for the second half of the year.
About TIX Corporation
Tix Corporation is an integrated entertainment company providing discount and premium ticketing services, event and branded merchandising, and production/promotion of live concert and theatrical events. It currently operates seven prime locations in Las Vegas under the Tix4Tonight marquee, offering up to a 50 percent discount for same-day shows, concerts, attractions and sporting events, as well as discount reservations for golf and dining. The Company also offers premium tickets to concerts, theater and sporting events throughout the United States under its Tix4AnyEvent brand. Newly launched Tix4Members.com offers closed groups discount tickets for nationwide events through a co-branded website with Costco. The Company's Exhibit Merchandising operation is engaged in branded merchandise development and sales activities related to museum exhibitions and other events, including the King Tutankhamun and Real Pirates tours; selling themed souvenir memorabilia and collector's items in specialty stores in conjunction with the specific events and venues. Tix Productions is dedicated to live concert and theatrical promotion and production throughout the United States, Canada and Europe and operates under the banners of Magic Arts & Entertainment and NewSpace Entertainment.
Safe Harbor Statement
Except for the historical information contained herein, certain matters discussed in this press release are forward-looking statements which involve risks and uncertainties. These forward-looking statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties are discussed in the Company's various filings with the Securities and Exchange Commission. The Company assumes no obligation to update these forward-looking statements.
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