New ASM Global expands operations in Australia

Newly formed global entertainment entity ASM Global has today announced a strategic investment of a 25% shareholding in Sydney-based stadium operator VenuesLive.

Acquiring the stake from Techfront Australia, the announcement marks ASM Global’s further expansion in the Australian market.

Formed through the merger of AEG Facilities and SMG, ASM Global’s operations span five continents with a broad and diversified portfolio of more than 300 of the world’s most prestigious arenas, stadiums, convention and exhibition centres and performing arts venues.

Harvey Lister, Chairman and Chief Executive of ASM Global in the Asia Pacific region, said that ASM Global’s investment in VenuesLive was an exciting development that would guarantee more world-class music, family entertainment and sport content across a greater number of venues throughout Australia going forward.

As a result of this investment, Lister will join the Board of VenuesLive although the day to day business of the company will remain under the direction of current directors and joint majority shareholders Daryl Kerry and Steve Heytman.

In Asia Pacific, ASM Global currently manages the 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, the recently opened 17,000 Coca Cola Arena in Dubai; mid-sized arena spaces in Brisbane, Newcastle, Cairns, Darwin and soon Christchurch; and 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.

VenuesLive is a leading provider of management and hospitality services to venues and events. It operates three of Australia’s most iconic stadiums - the 83,500-seat ANZ Stadium (soon to undergo a major refurbishment) and the 30,000-seat Bankwest Stadium in Sydney, as well as the 60,000-seat Optus Stadium in Perth.

Approval for the acquisition has been granted by the state government owners of the three stadiums.

Bob Newman, President and Chief Executive of ASM Global, said the new shareholding arrangement would offer VenuesLive the opportunity to benefit from ASM Global’s worldwide network of partnerships with leading entertainment and sports providers which will bring high profile content to the region.

Newman advised “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.”

Welcoming the investment by ASM Global, Daryl Kerry, Managing Director of VenuesLive, added “we are excited about ASM Global’s investment in VenuesLive. 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.”

Images: VenuesLive managed venues, Bankwest Sadtium in Sydney (top), Perth's Optus Stadium (middle) and Sydney's ANZ Stadium (below).