#PlaybyPlay #Podcast: MarineMax (NYSE: $HZO) Expanding Floor Plan Facility, and Life Time Group Holdings (NYSE: $LTH) Opening Athletic Country Club in Arlington, VA
Djokovic Advances to Wimbledon Finals, and Arsenal Signs Jurriën Timber from Ajax
Vancouver, Kelowna, Delta, BC, July 14, 2023 Investorideas.com, a global investor news source issues today’s edition of Play by Play covering what’s new in sports and esports headlines plus recent news from publicly traded companies..
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MarineMax, Inc. (NYSE:HZO) has announced the expansion of its floor plan facility from $750 million to $950 million, thereby increasing its liquidity and financial flexibility for the future. According to the press release, this larger facility “will be used to finance the purchase of new and used boat and yacht inventory.” Michael H. McLamb, Executive Vice President, Chief Financial Officer and Secretary of MarineMax, said:
“The expansion of our floor plan facility, as provided by the accordion feature of our credit facilities, underscores the success of our growth strategy and the strength of our balance sheet. This increase is consistent with our historical practice of augmenting floor plan capacity as needed for growth. We appreciate the ongoing support and confidence of our bank group partners as we execute on our initiatives and deliver on our mission to provide customers with the world’s best pleasure boating experience."
Life Time Group Holdings, Inc. (NYSE:LTH) has announced the opening of a one-of-a-kind athletic country club in Arlington, Virginia with Life Time Work, its premium coworking destination, set to open July 17. The development spans 113,000 square feet over four floors, including 85,000 square feet for the athletic club and 28,000 square feet dedicated to Life Time's premium coworking spaces. Parham Javaheri, Life Time’s Chief Property Development Officer, explained:
"Life Time at The Clarendon Crossing is the ideal location for us as our expansion continues across key markets while also reinforcing our asset light growth strategy. As a result of our unique, flexible design capabilities and partnership with Regency Centers, we took what was intended to be a small, fitness-only offering and expanded our presence to create a space that features our full Life Time experience, including Life Time Work, to become a true anchor. We expect Life Time to be the heart of this development and bustling area."
Djokovic Advances to Wimbledon Finals, and Arsenal Signs Jurriën Timber from Ajax
The Associated Press reports that Serbian tennis superstar Novak Djokovic is advancing to the Wimbledon final after defeating Italian Jannik Sinner 6-3, 6-4, 7-6 (4) in the semifinals this morning. If Djokovic prevails in the finals, he will have captured his eighth Wimbledon title, tying with Roger Federer as the only two men to have won eight singles trophies at the tournament. Notably, the age gap between Djokovic and Sinner (36 and 21, respectively) was the largest between Wimbledon men’s semifinalists in the Open era, and Djokovic “would be the oldest champion at Wimbledon since professionals were first allowed to compete that year.”
The AP also reports that Islington, London-based football (soccer) team Arsenal signed Netherlands defender Jurriën Timber from Amsterdam club Ajax today so as to strengthen its defensive options for another run at the Premier League title and its return to the Champions League. Arsenal manager Mikel Arteta said:
“We’re really excited that Jurrien has joined us. He is a versatile young defender who will fit into our system and provide our squad with so much added quality. Jurrien is a young player, but has already achieved so much. He has experienced what it’s like to go to a major international tournament on more than one occasion, as well as the trophies he has won with Ajax.”
Sam Mowers, Investorideas.com
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