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MB722028
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At&T Stadium

1 LEGENDS WAY, Arlington, TX 76011 · TABC MB722028

Mixed Beverage Arlington Market Enriched 2026-05-24
$27,922,597 Annual gross (L12M) ▼ 73.0% latest MoM Click for monthly detail
$2,326,883 Avg monthly ▼ 89.5% latest vs avg Click for monthly detail
~-7% Est. net margin (likely) $-1,842,891/yr est. net Click for cost model
$13,961k–$-6,450k Est. acquisition range 0.13× annual gross (blended) Click for valuation methods
Liquor sales only — total revenue is higher
Every dollar on this page comes from Mixed Beverage Gross Receipts filings — the alcohol portion of total sales. For a Stadium / Arena, liquor is typically only 50–75% of total business revenue. Concessions liquor + food. Estimated total revenue (rough): $37,230,129 – $55,845,194/year. Treat the valuation below as a screening estimate based on the alcohol portion alone.
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Executive Summary

Click to expand full narrative

At&T Stadium is a mixed-beverage licensed establishment at 1 LEGENDS WAY, Arlington, Texas (TABC MB722028). Over the most recent 12 months it reported $27,922,597 in gross alcohol sales, averaging $2,326,883/month with a best month of $6,191,594. Sales mix: ~43% liquor · 52% beer · 5% wine. The building at this address is owned by ARLINGTON CITY OF (101,000 sqft, $104,712,783 assessed value per county records). Applying Texas bar cost benchmarks yields an estimated annual net of approximately $-1,842,891 (~-7% margin). Acquisition value is estimated at $13,961k–$-6,450k across revenue-multiple, SDE-multiple, and cap-rate methods. All revenue figures are gross mixed-beverage receipts as filed with the Texas Comptroller; they exclude cash income such as cover charges, game machines, or merchandise.

Sales performance · last 12 months

Texas Comptroller mixed-beverage gross receipts actual

Annual gross
$27,922,597
Avg monthly
$2,326,883
Best month
$6,191,594
Dec 2025
Sales mix
43% Liq
52% Beer · 5% Wine

Property & occupancy

County public records + submarket comps

Venue concession agreement

This permit operates at a stadium or arena. Concession-style contracts (not traditional rent) are typical: the venue keeps the majority share of gross receipts, the operator covers labor, cost-of-goods, and capital improvements amortized over the contract term.

Operator share (likely) 30% · $8,376,779/yr
Venue share (estimated) $1,628,818/mo · 70% of gross
Event-day labor ~8% of gross · $186,151/mo

Splits vary by contract — typical range is 60/40 to 80/20 venue/operator on alcohol. Volunteer labor through nonprofit partners is common. Property tax falls on the venue, not the concession operator.

Profit scenarios

Texas bar cost model applied to $27,922,597 gross revenue estimated

Best Case
Operator-favorable contract (40/60 split), volunteer-heavy labor, premium markups
~7%
Revenue$27,922,597
Venue share (60%)−$16,753,558
COGS (16%)−$4,467,616
Event-day labor (7%)−$1,954,582
TX MB gross tax (6.7%)−$1,870,814
Insurance / capex amort (4%)−$1,116,904
Card surcharge net+$307,149
Net profit $2,066,272
Most Likely
Typical major-venue contract (30/70 split), event-day staffing, standard markups
~-7%
Revenue$27,922,597
Venue share (70%)−$19,545,818
COGS (18%)−$5,026,067
Event-day labor (8%)−$2,233,808
TX MB gross tax (6.7%)−$1,870,814
Insurance / capex amort (5%)−$1,396,130
Card surcharge net+$307,149
Net profit $-1,842,891
Stressed
Venue-favorable contract (20/80 split), heavy capex amortization, weaker markups
~-24%
Revenue$27,922,597
Venue share (80%)−$22,338,078
COGS (22%)−$6,142,971
Event-day labor (10%)−$2,792,260
TX MB gross tax (6.7%)−$1,870,814
Insurance / capex amort (6%)−$1,675,356
Card surcharge net+$307,149
Net profit $-6,589,733
Disclaimer: Revenue is mixed-beverage gross receipts from the Texas Comptroller — it does not include cash income like door charges, game machines, merchandise, or event rentals (which can add 10–25% for nightclubs). Cost ratios are industry benchmarks for Texas MB-permit bars. Rent is estimated from submarket comps; property tax is from county public records pro-rated by square footage. Actual profit depends on lease terms, staffing, owner salary, and one-time costs.

Owner income estimator

Split likely net profit across ownership estimated

TABC licensee Legends Hospitality LLC looking up officers…
6
Equal split (50% each)
Based on the "Most Likely" scenario net profit of $-1,842,891/year. Actual owner income depends on salary draws, distributions, debt service, and tax structure. Consult an accountant for actual income projections.

Acquisition value estimate

Based on most-likely scenario (~$-1,842,891 net) estimated

Revenue multiple
$13.96M–$22.34M
0.5–0.8× gross
SDE multiple
$-4,607k–$-6,450k
2.5–3.5× earnings
Cap rate
$-5,585k–$-7,372k
25–33%
Suggested range
$13,961k–$-6,450k
blended estimate
The numbers above are liquor-only: bar-style multiples applied to mixed-beverage receipts. They're the right answer for a pure bar/lounge — but for a restaurant, this is just one slice of total enterprise value (the bar program). See the food-business estimate below.

Federal court history

Public records · last checked 2026-06-24

Lookup pending — check back tomorrow

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