18th Feb 2015 08:16
LONDON (Alliance News) - Gfinity PLC said Wednesday it has signed a deal with cinema operator Vue Entertainment International Ltd to develop and launch an eSports arena in London.
Gfinity, an electronic sports company which hosts gaming competitions, said that under the deal part of the Vue Fulham Broadway multiplex will be converted into a 600 capacity eSports venue to be called the 'Gfinity Arena.'
This venue is scheduled to open in March for the start of the 2015 Gfinity Championships. Under the deal Gfinity will commit to a monthly rental fee that will be subject to a 100% clawback from ticketing revenues generated by the venue.
Any additional revenues generated above this level will be shared equally between Gfinity and Vue. Gfinity said its total commitment will be around GBP350,000. The two companies will work together to promote events, and will explore the option of rolling out other Vue locations in the future.
No further financial details were disclosed.
Shares in Gfinity are trading up 7.3% at 22.00 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2015 Alliance News Limited. All Rights Reserved.
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