The social hospitality company F1 Arcade has announced a £30m investment for global expansion.
The UK company plans to spend most of the resources building up a business in the US. F1 Arcade’s flagship location is in St Pauls, London, themed around its Formula 1 simulator racing experience.
The objective now is to establish a string of venues across the UK and US and the group is now in discussions with a number of potential parnters in different parts of the world, including Europe, the Middle East and Australia, to take the concept even further.
Investors include Liberty Media and Formula 1 plus some sector-based investment from Imbiba. Support has also been indicated by McLaren Racing’s CEO Zak Brown anbd Formula 1 drivers Lando Norris and Logan Sargeant.
In a statement this week, F1 Arcade said: “The rapid global growth of Formula 1 and the growth in gaming culture alongside the experience economy presents exceptional opportunities for F1 Arcade as it expands its unique hospitality concept worldwide.
"Following the resounding success of its flagship site in St Pauls, London, which continues to surpass revenue expectations, F1 Arcade plans to open more than 30 locations globally by the end of 2027, with the first US site in Boston scheduled to open in 2024.”
