Gfinity, a UK-based esports and gaming company, has revealed its plans to shut down its esports division. The decision stems from the company’s directors recognizing limited opportunities for profitable growth in this sector.
This announcement follows the recent closure of the Gfinity Arena in London. However, Gfinity had previously mentioned their intention to utilize an alternate venue in the United States, collaborating with an undisclosed company, for production and live events.
Gfinity’s shift away from esports was indicated to some extent when the company shared in its February report its intention to rebalance revenue sources, reducing reliance on esports services and operations.
Until recently, Gfinity played a significant role in UK esports production and live events. The company established the renowned Gfinity Arena in 2015 and organized a wide range of notable tournaments, catering to both grassroots and professional players. These included renowned competitions like the Gfinity Elite Series, the F1 Esports Series, and HCS London 2018, among others.
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Gfinity is one of the major esports and gaming firms in the UK, with a variety of business verticals including media, production, esports solutions, and its newest product, competitive platform Athlos. Athlos Game Technologies, as it is formally known, has made good progress in its beta, and Gfinity stated that one of the key reasons for the announced rise is platform scaling.
Following the sale and termination of its esports business, Gfinity will concentrate on digital media, notably in the gaming industry. Following a drop in user numbers in 2022, the business reported that it trimmed costs in this area. This included streamlining’ its editing crew and beefing up its SEO with targeted hiring.
According to the filing, Gfinity has relied on AI to minimize the cost of certain content generation products. Gfinity states in the announcement that this has resulted in an ‘upturn’ in May 2023.
