Update- 29/07/20: It has been confirmed to Esports Insider that Vindex hasn’t raised $300 million, it intends to invest that amount over the next five years in Belong. It was also clarified that Vindex acquired the Belong Gaming Arenas brand and all associated IP; GAME will continue to operate UK locations as a licensed operator.
Esports infrastructure company Vindex is set to acquire GAME’s Belong gaming arena division, according to a report from the Financial Times.
Vindex, which was founded by MLG co-founders Mike Sepso and Sundance DiGiovanni, launched in October following a launched with $60 million (£46.6 million) Series A.
RELATED: From MLG to Vindex: The story of Mike Sepso
According to the report, Vindex has raised $300 million (£231 million) to allow it to fund an expansion for Belong over the next five years. It’s stated that the company is looking to open over 500 esports venues in the United States and a further 1,000 in other countries, which a focus on Europe.
Belong currently owns esports facilities in Bradford, Gateshead, Hull, Manchester, Teesside, York, Preston, Colchester, Milton Keyes, Norwich, Bristol, Kingston, London, Portsmouth, Sutton, West Thurrock, Glasgow, Cardiff, Wrexham, Craigavon, and Ballymena.
RELATED: Vindex establishes partnership with IMAX
In January, Vindex established a partnership with Canadian cinema company IMAX to “create esports events and exclusive content” that would be shown in IMAX cinemas globally.
The infrastructure platform owns Esports Engine, a turnkey esports operations company headed by Adam Apicella, and Next Generation Esports, a production company.
Esports Insider says: This is a big, unexpected move, that’s for sure. Vindex has made it clear from launch that it had big plans – this was demonstrated by the IMAX deal – but this development marks a titanic investment for the company. It would see Vindex seemingly compete against others looking to establish a network of esports facilities, such as Nerd Street Gamers and Allied Esports.
Listen to ESI Network, a suite of esports podcasts