Written by Dante Uzel on 27 November 2024 01:04
Source: T1
South Korean esports organization T1 Esports has announced plans to raise $35 million to support its growth.
Joe Marsh, CEO of T1 Entertainment & Sports, revealed that part of the funds will be used to expand the T1 Base Camp, a PC gaming café that opened earlier this year in Seoul, South Korea. This announcement comes after T1’s record-breaking fifth League of Legends World Championship victory, with Marsh stating that the organization is aiming for its "biggest expansion" yet, leveraging the momentum from this achievement.
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Marsh highlighted that the gaming cafes represent a "revenue-generating, cash-flow business" that T1 plans to grow by capitalizing on its strong brand. The company is exploring opportunities to open new locations in Japan, Vietnam, Singapore, and China. Since its opening, the T1 Base Camp has become the top PC gaming café in South Korea.
Additionally, T1 plans to expand its live events operations after hosting its first homestand matches this year. The T1 Home Ground event, held at the 6,200-seat Goyang Sono Arena, featured official League of Legends matches with a home crowd, generating over $1m in revenue from ticket sales, food and beverage, and merchandise, according to Marsh.
Tags: T1
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