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Tix Corp. (TIXC) Announces Acquisition of All Access Entertainment

March 2, 2010 8:45 AM EST Send to a Friend
Tix Corporation (NASDAQ: TIXC) announced that the Company has acquired the assets of All Access Entertainment, a discount ticket service with five facilities in Las Vegas.

The five facilities operated by All Access Entertainment are being converted to the Company's wholly-owned subsidiary Tix4Tonight brand and operations. The additional facilities bring the total number of Tix4Tonight same-day discount ticket stores in Las Vegas to thirteen. All Access Entertainment President Metin Durmus will provide consulting services to assist the Company in the transition and to help achieve additional growth.

"The All Access ticket facilities are located at complementary sites, where Tix4Tonight does not have stores. As a result, we anticipate this acquisition will further our efforts to reach more customers with our inventory of unsold, highly discounted tickets to fabulous Las Vegas shows, which is a great benefit to both consumers and Las Vegas producers," said Mitch Francis, chairman and CEO, Tix Corporation. "We believe the acquisition will be accretive, adding additional cash flow to our discount ticketing division, which increased gross ticket sales last year by approximately 44% to nearly $80 million dollars. We believe this growth trend will continue this year by approximately 25% to nearly $100 million dollars of gross ticket sales."**

**Note that the Company only reports Tix4Tonight's commissions and fees as revenue, not gross ticket sales. The Company plans to release its 2009 earnings report by March 16, 2010 and will discuss performance of the entire Company including its two divisions not mentioned herein at that time.



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