Press Release 23 December 2013
Papa Entertainment plc
("Papa Entertainment" or the "Company")
New RTRV contract signed with LVH
Papa Entertainment Plc (ISDX:PAPP), a specialist UK group focused on the music and media
industries, is pleased to announce that the Company's wholly owned subsidiary, Rock Vault Tours
Inc. ("RVT"), has today signed a new entertainment engagement agreement with The Las Vegas Hotel &
Casino ("LVH") for its Raiding The Rock Vault ("RTRV") show to remain at the LVH for a period of
one year with a sixty day termination clause for either party.
The key terms of this new agreement, which are financially significant for the Company, are that
LHV has agreed to pay the hotel's own labour costs as well as the hotel's direct costs throughout
the whole of 2014. In addition, LVH has also agreed to purchase a minimum of 150 tickets for use
by their casino clientele for each show during the one year contractual period.
The new agreement also provides that RTV will only be responsible for the show's royalties and its
own direct costs in running the show.
RTRV concerts are performed in the Showroom at the LVH. The Showroom seats approximately 1,500
people and the hotel has 2,956 rooms and 305 suites in total. The two hour long concert narrates
the story of classic rock and features songs by The Who, The Doors, Jimi Hendrix, Free, The
Eagles, Led Zeppelin, Bryan Adams, Van Halen, Deep Purple, Queen, Kiss and The Rolling Stones.
Harry Cowell, Chief Executive of Papa Entertainment plc, said: "We are absolutely delighted to
have signed this new multi-million dollar revenue agreement with the LVH. Having established
Raiding the Rock Vault as one of the leading shows in Las Vegas since we opened eight months ago
is a phenomenal achievement by any standard. We would like to thank the LVH management team and
all of the staff for their commitment and ongoing support for this exciting project.
"This new agreement not only provides RTRV with financial stability for the next 12 months but
also allows the show to expand its offering, commit to new band members as well as also increasing
the number of one-off concerts with special guest musicians and vocalists, under our 'RTRV Icon
Series'. The Board of Papa Entertainment believes that 2014 will be an extremely exciting year for
the Company and for our shareholders."
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For further information, please contact:
Papa Entertainment plc
Harry Cowell, Chief Executive Tel: +44 (0) 20 8977 0632
Allenby Capital Limited Tel: +44 (0) 20 3328 5656
Alex Price / Michael McNeilly www.allenbycapital.com
Henry Harrison-Topham / Jamie Hooper Tel: +44 (0) 20 7398 7719
Notes to Editors
Papa Entertainment was incorporated as a vehicle for the purpose of acquiring companies or
businesses engaged in the entertainment, music and media industries. Papa Entertainment acquired
Mission Entertainment Group Limited and its subsidiaries (the "Mission Group") in July 2012.
Papa Entertainment is led by its Chief Executive Officer, "Sir" Harry Cowell, who has over 25
years' experience in the music industry.
The Company's Non-Executive Chairman is Korda Marshall, who has during his career signed artists,
directed major label A&R departments, produced, executive produced and been a managing director of
three recording companies and has worked with performers including Take That, MUSE, Ash, Paul
Oakenfold, the Eurythmics, Dave Stewart, Peter Andre, Garbage, James Blunt, Gnarls Barkley and The
Darkness, personally signing or negotiating with several of these artists. Korda's signings
include Mercury Music Prize winning band Alt-J.
Simon Napier-Bell, a Non-Executive Director of Papa Entertainment, has enjoyed a long career in
the entertainment industry, commencing in the 1960s, with notable highlights including the
management of well-known artists such as "Wham!" and the "Yardbirds" and the co-writing of the No.
1 Hit Single "You don't have to say you love me" for Dusty Springfield.
The Mission Group is a group of music production and publishing companies with studio and office
facilities in Kingston-Upon-Thames, South West London. The Mission Group's business consists of
the delivery of music to the listener, incorporating writing, recording, marketing and
distribution, label management and production. The Company's policy through concentrating all the
Group's operations under one roof and utilising its own studios is to consolidate the functions of
music production and publishing in-house in order to manage costs and to integrate functions that
would otherwise be subject to external contracting. Various contracts, artists, projects and
agreements are signed to the Mission Group's companies.
Papa Entertainment was admitted to the ISDX Growth Market on 14 September 2012.
For more information on the Company please visit: www.papaentertainmentplc.com