F1 Arcade to receive £30m investment as it eyes global expansion

F1 Arcade has received a £30m investment to accelerate the international expansion plans of the Formula 1 simulator hospitality group.

It will open a site in Birmingham in late 2023, following the launch of the Arcade's flagship venue in London's St Paul's last December.

F1 Arcade will be funded by Liberty Media and Formula 1, as well as sector-focused investment firm Imbiba, as part of the partnership.

Zak Brown, chief executive of McLaren Racing, and Formula 1 drivers Lando Norris and Logan Sargeant also participated in the investment round.

F1 Arcade now has aims to open more than 30 locations globally by the end of 2027, with its first US site in Boston due to launch in 2024.

Adam Breeden, chief executive and founder of F1 Arcade and co-founder of mini-golf concept Puttshack, said: "We are truly excited to be working closely with Liberty Media and Formula 1 as equity partners as we drive towards global growth. Not only do we have an exceptional business model and product, but we are excited about the power of the F1 Arcade brand, its appeal to international audiences as well as potential partners around the world."