More Gfinity eSports shares to go on the market

UK eSports events firm Gfinity has revealed that it lost £3.6m in its first full year. The company are far from being in panic mode however, with this considerable expenditure necessary to build the infrastructure which’ll allow for future expansion. The launch of the UK’s first dedicated eSports arena (in partnership with Vue cinemas) for instance was costly, and as such this figure was no big surprise.

CEO Neville Upton has admitted however that Gfinity has “generated relatively low sales to date”, though they did increase earnings 163% from the previous year. The company had 43,000 registered users in June 2014, and a year this figure was over 400,000. Upton has stated that the plan now is to “maximise growth of its user base and consolidate its reputation for delivering the highest quality eSports events.”

In this regard, Gfinity’s new online retail store will be opening in the coming weeks, and partnerships and sponsorships will be vital too with discussions having already begun over the 2016 Championships series.

Another current intention is to raise £1m by offering more shares in the company in the near future. Last year the firm raised £3.5m on the London Stock Exchange’s AIM.