ASM Global Acquired by Live Experiences Company Legends
November 13, 2023
Premium live experiences company Legends is expanding its geographic reach and services portfolio with the acquisition of ASM Global, which manages a portfolio of more than 350 venues spanning five continents. Financial terms of the transaction were not disclosed.
Announced on Nov. 7, the acquisition will position Legends to meet the expanding needs of sports organizations, entertainment venues, convention centers and attractions globally “while supporting its vision to deliver exceptional live experiences,” according to Legends officials in a statement.
By adding ASM Global’s complementary strategy and management capabilities, Legends will be able to support its clients from project conception and planning to venue development and management, content and event booking, revenue strategy and sales execution, as well as omnichannel merchandising and hospitality services, according to Legends officials.
“Legends and ASM Global are both deeply client-centric and fan-focused and together we will deliver maximum value for our global client roster with even greater support and service options,” said Shervin Mirhashemi, CEO of Legends.
He continued, “Welcoming ASM Global to Legends is a capstone achievement in our 15-year journey toward becoming the world’s trusted partner for connecting people with the brands and communities that matter most to them, and for helping our clients create memorable moments that keep their fans and patrons returning time and again.”
Founded in 2008, Legends provides venue planning and project management, premium sales, sponsorship, hospitality and merchandise services to many of the world’s leading sports, entertainment and attractions brands, including Real Madrid, SoFi Stadium, One World Observatory, Dallas Cowboys, FC Barcelona, University of Notre Dame, New York Yankees and Ryder Cup, as well as leagues and properties such as the NFL, MLB, NASCAR, PGA of America and FIFA World Cup.
The company boasts six divisions operating worldwide – Global Planning, Global Sales, Global Partnerships, Hospitality, Global Merchandise and Global Technology Solutions, and works with clients across business verticals including professional sports, collegiate, attractions, entertainment and leisure.
Leading global investment firm Sixth Street, which has more than $74 billion in assets under management, is the majority investor in Legends in partnership with YGE Holdings, LLC, an affiliate of the New York Yankees, and the Jerry Jones family, owners of the Dallas Cowboys.
ASM Global manages a global venue portfolio that includes leading arenas, stadiums, convention and exhibition centers and performing arts venues, including at ICC Sydney Convention Center, Avicii Arena in Stockholm, OVO Arena Wembley in London, Coca-Cola Arena in Dubai and State Farm Stadium, to name a few.
It also manages a number of major U.S. convention centers, including Moscone Center in San Francisco, the Los Angeles Convention Center and Huntington Place in Detroit, among many others, and boasts a robust corporate social responsibility platform, ASM Global Acts.
“We’re thrilled to join Legends, which shares our client-first approach and advances our goal of offering our partner organizations a truly seamless experience while driving the growth of their businesses,” said Ron Bension, president and CEO of ASM Global.
In recent months, ASM Global has seen increasing competition from Oak View Group (OVG), which manages more than 400 venues worldwide, including convention centers, arenas, stadiums and performing arts centers. OVG manages more than 60 convention centers across North America, including Kay Bailey Hutchison Convention Center Dallas, Miami Beach Convention Center, Atlantic City Convention Center, Cincinnati’s Duke Energy Convention Center and I-X Center in Cleveland.
As part of the transaction, current ASM Global equity holders Onex and AEG will sell their ownership interests, and ASM Global will continue to serve existing and in-development AEG venues.
“Our clients will benefit from Legends’ robust services, innovation, technology and global partnerships which, combined with ASM Global’s venue management and content and event booking expertise, will provide our clients with locally tailored solutions and cutting-edge technologies to achieve outstanding fan experiences and improved venue owner results,” Bension said.
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Partner Voices
MGM Resorts is committed to fostering an inclusive and diverse culture, not just among employees and guests but also within its supply chain. The company prioritizes procuring goods and services from businesses owned by minorities, women, veterans, people with disabilities, LGBTQ individuals and those facing economic disadvantages. This commitment is integral to MGM Resorts' global procurement strategy.
Through its voluntary supplier diversity program, MGM Resorts actively identifies and connects certified diverse-owned suppliers to opportunities within its supply chain. The company is on track to spend at least 15% of its biddable procurement with diverse-owned businesses by 2025, demonstrating that supplier diversity is not only a social responsibility but also a strategic business imperative.
Supplier diversity isn’t just the right thing to do – it’s good for business. A diverse supply chain allows access to a broader range of perspectives and experience, helping to drive innovation, entrepreneurship and resilience, while strengthening communities. At MGM Resorts, engaging diverse suppliers ensures best-in-class experiences for guests and clients. Supplier diversity ensures a more resilient supply chain while supporting economic development in the communities in which it operates.
The impact of MGM Resorts' supplier diversity initiatives is significant. In 2023, these efforts supported over 3,500 jobs across more than 30 states, contributed over $214 million in income for diverse-owned businesses and generated more than $62 million in tax revenue. The story extends beyond the numbers – it reflects the tangible benefits brought to small and diverse-owned businesses, fostering economic empowerment in their communities.
MGM Resorts also supports the development and business skills of diverse-owned businesses through investment, mentorship and education. Through the MGM Resorts Supplier Diversity Mentorship Program, the company identifies, mentors and develops diverse-owned businesses to fill its future pipeline, while providing businesses with tools and resources to empower and uplift. Since 2017, the program has successfully graduated 105 diverse-owned businesses and is on track to achieve its goal of 150 graduates by 2025.
MGM Resorts’ commitment to supplier diversity not only enhances its business operations but also plays a crucial role in uplifting communities and fostering economic development. This approach reinforces the idea that diversity is a powerful driver of innovation and resilience, benefiting both the company and the wider community.
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