A new arena is coming to Miami. This one, however, is not in a traditional format. Rather, the purpose is for esports – racing to be specific. Millennial Esports (TSXV: GAME) announced this morning that it is constructing the first esports racing arena, which is scheduled to open in 2020.
The facility, estimated at $2.8 million in construction costs, will be approximately 12,000 square feet in size. Although small by arena standards, it will be the first of its kind and will feature 30 racing simulators that can be played individually or linked together for a more competitive experience.
The planned facility is a result of Millennial Esports recent majority stake in Allinsports that was announced in August. The technical know-how of the racing simulation firm will be used within the facility, and its believed that their product will be featured throughout.
Driving simulators have taken a prominent role within the racing community as a whole, as it allows drivers to get a better understanding of the science behind what they do. The arena, which will feature a full size motion simulator, will also be utilized to train drivers for real-world racing.
The Miami arena is set to be the first of many such arenas located across the globe, however Millennial Esports was intently non-specific on the details. The arena is set to open some time in 2020, with a hard date or timeline not being given.
Millennial Esports is currently trading at $0.59 on the TSX Venture Exchange.
Information for this briefing was found via Sedar and Millennial Esports Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
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