Emerald Holding, Inc. Receives $149M in Insurance Litigation Settlement
Emerald Holding, Inc. announced that it had received $149.25 million from its insurance litigation settlement for canceled events under its 2020 and 2021 event cancellation insurance policies.
Of the $149.25 million, $148.54 million is expected to be recognized as Other Income, net for the third quarter of 2022.
Emerald has submitted insurance claims under its 2020 and 2021 event cancellation insurance policies of approximately $348.4 million, representing the net amount of expected gross revenues less avoided costs for canceled events scheduled during 2020 and 2021. Including the $149.25 million litigation settlement payment Emerald has received, total proceeds under the 2020 and 2021 event cancellation insurance policies amount to $372.9 million.
