STUDIO CITY, CA, March 17, 2020 (GLOBE NEWSWIRE) -- Tix Corporation (the “Company”) (TIXC), a leading provider of discount ticketing services is providing an update on its Las Vegas subsidiary, Tix4Tonight, LLC and the impact of the Novel Coronavirus (COVID-19) on its Las Vegas operations.
The Current Las Vegas Marketplace:
Our Tix4Tonight business is located in Las Vegas where we sell shows, attractions, tours and dining from our nine ticket booths that are strategically located on the Strip. Due to efforts to mitigate the impact of COVID-19, virtually all Las Vegas entertainment, restaurants, bars, and major hotel properties such as Wynn Resorts and MGM Resorts International have closed. With the closure of entertainment on the Las Vegas Strip, and therefore the cessation of revenue for our business, we effected a layoff of the majority of our employees, closed our ticket booths, and continue to significantly reduce our operating costs. We will continually monitor the Las Vegas marketplace to determine when and if we will be able to commence operations again. We intend to seek available disaster assistance, as well as forms of financing to help with liquidity during this disruption to our business. We will be assisting our employees to obtain any federal and state assistance that may be available to them. We are grateful to our staff for their years and decades of dedication and superb talent they have given the company. We wish them well during this very difficult period.
About Tix Corporation
Tix Corporation (TIXC) provides discount ticketing services. It currently operates nine discount ticket stores in Las Vegas under its Tix4Tonight marquee and its online ticket sales site, www.tix4tonight.com, which offer up to a 50 percent discount for shows, concerts, attractions, and tours, as well as discount dining and shopping offers.
Safe Harbor Statement
Except for the historical information contained herein, certain matters discussed in this press release are forward-looking statements that involve risks and uncertainties. Forward-looking statements include, but are not limited to, statements about our future revenues and financial position. 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 filings with the OTC Markets. The Company assumes no obligation to update these forward-looking statements. A copy of the Company’s reports for the twelve months ended December 31, 2018, can be found on the Company website at www.tixcorp.com or www.otcmarkets.com.
Steve Handy, CFO, (818)761-1002