QualityStocks would like to highlight
Latitude 360, Inc. (
OTCQB: LATX), an award-winning pioneer of a dining and entertainment venues that combine premier upscale casual dining with numerous state-of-the-art entertainment choices. The company develops, constructs and operates cutting-edge Latitude 360 venues ranging from 35,000-85,000 sq. ft., packed full of eating and entertainment options that appeal to a broad base of guests, private events and corporate clients.
In the company’s news,
Latitude360 chairman, founder, and CEO Brent Brown started developing the Latitude 360 concept in 2007, and over the last five years has amassed a strong staff of more than 500 employees and a growing foothold in the restaurant and entertainment industries. Widely recognized within Florida’s business world, Brown’s track record demonstrates his keen ability to transform a vision into a continuously growing, revenue-generating establishment.
Latitude 360 is an award-winning pioneer of a dining and entertainment venues that combine premier upscale casual dining with numerous state-of-the-art entertainment choices. The company develops, constructs and operates cutting-edge Latitude 360 venues ranging from 50,000-85,000 sq. ft., packed full of eating and entertainment options that appeal to a broad base of guests, private events and corporate clients.
The company’s three locations in Jacksonville, Florida, Pittsburgh, Pennsylvania, and Indianapolis, Indiana, encompass the Latitude brand of exceptional food and beverage combined with numerous entertainment options in an upscale venue. Key offerings at each 360 location include Las Vegas-style live performance showroom, a feature bar featuring the area’s top musicians and/or DJs, luxury bowling, dine-in movies, high-definition sports theatre, game arcade and luxury cigar lounge and many choices of private meeting space.
Seven years after Brown began laying the groundwork for Latitude 360, the company has established a first-of-its-kind, fee-based monthly club membership program through which guests have access to a cache of monthly entertainment assets at a value price as well as exclusive access to a 360 Club Concierge service. The program has quickly grown to more than 5,000 active monthly paying members.
In the first quarter of 2015, Latitude 360 reported gross sales of $6.4 million, up 19% compared to $5.4 million in the first quarter of 2014; net sales increased 4.45% compared to the prior-year quarter; and group sales increased 45% to $1.6 million compared to $1.1 million for the comparable quarter of 2014.
Brown’s growth strategies incorporate his more than 15 years of experience in various specialties, including management, leadership and start-up finance, project development, complex real estate development and acquisition, re-zoning, rental management and investment banking. Brown’s experience not only contributes to the success and growth of the Latitude 360 brand, it has also earned him some industry recognition.
Brown is a member of the YLC Advisory Committee for the Manhattan Institute, has served on the South East Vision Committee for the City of Jacksonville as well as sat on the board of trustees for the Jacksonville Chamber of Commerce, and has received a steady flow of awards:
• 2008 Jacksonville Business Journal ranked Brent in the Top 40 Businessman under 40
• 2012 The Ultimate CEO for Northeast Florida by the Jacksonville Business Journal
• 2013 Entrepreneur of the year by Entrepreneur Anchor Magazine
• 2014 Latitude 360 awarded the Florida Fast 100 Companies for the top 100 growth companies in Florida
• 2015 Top 10 Industry Ranking in The Jacksonville Business Journal’s 2015 Book of Lists
• He also is a Co-Founder of H.A.T.U.A. International
Latitude 360 recently expanded its entertainment offerings when it Partnered and pending acquisition of Major League Fantasy (MLF), a leader in the daily fantasy sports industry. By implementing “360 Fantasy Live” into is existing locations, Latitude 360 is making a strong entrance into a rapidly growing market expected to reach $6 billion-$10 billion by year-end 2016.
Many companies are taking advantage of growing demand for daily sports fantasy leagues, but while DraftTeamDaily Fantasy Sports Corp. (OTC:PMXRF), Buffalo Wild Wings (NASDAQ:BWLD) and even Yahoo!, Inc. (NASDAQ:YHOO) enjoy footing in the fantasy sports industry, the acquisition of MLF allows Latitude 360 to position itself as one of the first live, multimedia venues to offer in-house, high-stakes, competitive daily fantasy events.
Brown and his equally strong core management team have not only designed, developed, constructed and operate three Latitude 360 venues around the country, but also plan to open three new venues this year. With an established presence in current markets and three new locations on deck, Latitude 360’s management team has an eye not only on national expansion, but international expansion as well.
“It is our belief that the truest indication of our strength is indicated in our store level results. With three store locations opening in the very near future, we intend to continue to grow and expand, offering customers the best dining and entertainment experience available. Our strategy remains to continue to expand in the United States, expand internationally and increase sales at existing locations. We have made solid progress on these initiatives and look for these to continue into the remainder of 2015 and beyond,” Brown stated in an April news release.
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