China breaks ground on US$ 898 million eSports stadium
Chinese companies are investing serious money in a brand-new eSports stadium which is being built in Shanghai. Construction of a brand-new venue dubbed the Shanghai International New Cultural and Creative E-sports Centre has begun following a conventional ‘ground breaking’ event. The centrepiece of the facility will be an eSports stadium, however there will be connected complementary centers consisting of a hotel.
Last year Shanghai hosted the League of Legends World Champion, among the greatest occasions in the eSports calendar, helping cement China as the largest eSports market in the world – a market worth about $1.1 bn worldwide in 2020 reports CNBC. Moreover approx 70 per cent of China’s players love to play eSports, it is estimated. Hence it is no coincidence that the major investor in the Shanghai International New Cultural and Creative E-sports Centre is SuperGen, the moms and dad company of Edward Gaming.
How big is this eSports stadium facility going to be? CNBC reporter Arjun Kharpal shared some renders of the development now underway, and you can see some of them in this article. In regards to land usage the place covers 500,000 square metres. In addition to the stadium, of gaming area(s) there will be eSports gaming company and team HQs, in addition to an attached hotel forming a complex. In all this task is estimated to cost 5.8 billion Chinese yuan (approx US$ 898 million).
The Shanghai International New Cultural and Creative E-sports Centre should be up and running at some point in 2024 according to local media.