@Marcus thank you for your help!
I'm not sure that MS Global Tables are. Unfortunetly I'm not that good in php and wordpress.
I have both CPT theme template single-location.php in my theme folder with normal post loop inside (basically as it is in single.php). I've location-single.php in my_theme_folder/plugins/events-manager/templates.
I use single-location.php to style the view of the site outside the_content();.
This is how my location-single.php file looks like:
* This page displays a single event, called during the em_content() if this is an event page.
* You can override the default display settings pages by copying this file to yourthemefolder/plugins/events-manager/templates/ and modifying it however you need.
* You can display events however you wish, there are a few variables made available to you:
* $args - the args passed onto EM_Events::output()
*** HERE IS MY NORMAL HTML CODE WITH PLACEHOLDERS ***
$content = ob_get_clean();
echo $output = $EM_Location->output($content);
However, still no matter what I put in location-single.php it does not overwrite the code that is in settings page under "Single location page format".