Chinese investors announce $900m Esports stadium

Chinese investors announce $900m Esports stadium

Chinese businesses are investing serious funds in Shanghai’s new eSports stadium. The Shanghai International Modern Cultural and Innovative E-Sport Centre’s construction of a new venue has begun following a traditional ‘groundbreaking’ ceremony. The main part of the facility is an eSports arena, but additional installations like a hotel are attached.

The League of Legends World Championships last year in Shanghai was one of the biggest events on the eSports calendar, promoting China as the largest eSports market in the world. In addition, it is estimated that approximately 70% of Chinese gamers like eSport. It is therefore no accident that SuperGen, the parent company of Edward Gaming, is the main investor in Shanghai International New Cultural and Innovative E-Sports Centre.

How big will this eSports stadium be? Arjun Kharpal, a CNBC reporter, shared some of the progress in this post, some of which you can see. The site spans 500,000 square metres when it comes to land use. Besides the stadium, the eSports business, team HQs and an attached hotel forming a complex will be part of the gaming field(s). It is projected that 5.8 billion Chinese yuan will be used in this project (approximately US$898 million).

According to the local media, the Shanghai International New Cultural and Creative esports centre should be open by 2024, and be fully running including the hotel and attachments.