By John Dobberstein, Editor
Tickets for shows at Broken Arrow’s Sunset Amphitheater may start going on sale in a matter of weeks, said the facility’s developer during a conference call with investors this week.
Venu executives said completion of the 12,500-seat, $103 million amphitheater on the city’s southeast side is on track for a fall opening and shows are expected to go on sale in 6-8 weeks.
The Colorado Springs-based company has not hinted who the opening acts will be. In general, Venu advertises the amphitheater will, “provide Tulsa and the surrounding area with a luxury, open air venue for A-list artists and Grammy award winning national touring acts.”
In its annual report, Venu said it launched an “omni content strategy” at its amphitheaters to, “expand programming beyond traditional concerts to include residencies, AI productions, high-end tribute experiences, theatrical productions, and original in-house shows” to drive year-round use and fan engagement.”
The company told investors this week that many artists want to be the one opening a new amphitheater and Venu has, “some significant interest for some major acts.” Venu looks to get in 3-5 large outdoor shows, and possibly more, this fall before transitioning into an indoor configuration as the company hosts a variety of events.
Just when it looked like Venu was going to lose its promoter for the site — industry giant Live Nation — the two firms entered into a “multi-event incentive agreement” early last year that will provide incentives to Live Nation to book and promote live music concerts, comedy events and other mutually approved entertainment events in Broken Arrow.
The incentive payment is based on the number of tickets sold at each event during each contract year, which is based on a tiered chart with varying incentive payments per ticket sold depending on the range of total tickets sold per contract year.
A bonus payment will be paid to Live Nation for $1 dollar for each ticket sold at each event where the gross revenue of ticket sales for an event equal to or is greater than $650,000.
But the amphitheater will still be functioning as an “open house” to allow Venu and other promoters to bring in acts.
The amphitheater — under construction just north of the Broken Arrow Events Park — will have a roof and radiant heating capacity for year-round use, as well as 234 “VIP Luxe FireSuites” accommodating groups of 4-10 guests in each suite.
Another feature will be the “Aikman Club,” an air-conditioned luxury suite with premium event sight lines and VIP access, with a one-time membership fee of $100,000.
Concertgoers will be able to purchase reserved seats in the upper- and lower-bowl seating areas or enjoy general admission in the upper bowl.
As for the company’s planned expansion to 40 total markets by 2030, Venu officials are in negotiations in 13 markets in Colorado, Texas, Florida, Tennessee, Kentucky, Indiana and Ohio, and more than 50 additional locations have been contacted about possible projects.
Venu opened its first luxury amphitheater in Colorado Springs in 2024 and the company plans to open a 20,000-seat facility in McKinney, Texas next year. Venu is also actively pursuing amphitheater developments in Centennial, Colo., Webster, Texas (Houston area) and El Paso.
Venu’s stock took a significant hit last year, as it was trading at nearly $18 a share in August before falling to $8.42 by year’s end and $3.40 on April 1. Nevertheless, Venu closed an $86 million capital raise this month that chairman and CEO J.W. Roth said “significantly” strengthens the company’s balance sheet and supports its national expansion.
“The raise was completed during a period of significant broader market volatility, reflecting strong institutional and retail investor conviction in Venu’s long term growth strategy,” he said.
Roth believes Venu’s stock is severely undervalued, noting that an independent appraisal of the company’s completed and in-development portfolio came in at $1.24 billion on an as-completed basis. “We know the market has been noisy. That is what early stages can look like for companies doing what we are doing,” he said. “This is a business grounded in tangible assets, measured expansion, and thoughtful capital deployment. Patient capital wins. And we are building this for the long game.”
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