VERITAS Entertainment raises $10M, unveils LVL gaming centre

Berlin-based VERITAS Entertainment is preparing to open a gaming centre, dubbed LVL, after raising $10 million (£7.72 million) in funding.

The 2,500-square-metre establishment will be launched in partnership with G2 Esports, whose players will use the facilities as a training ground and content hub, and will be able to interact directly with fans through the venue.

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LVL’s launch follows a funding round led by BITKRAFT Esports Ventures and other angel investors. VERITAS Entertainment will use the funding to flesh out the arena, expand its operating team, and eventually eye expansion to markets outside of Berlin. Possible locations for further arenas include South America and Spain.

The first LVL arena will open on March 26th and expects to see 250,000 people pass through its doors through 130 live events on an annual basis, with tournaments set to be held across an array of esports titles.

Aside from featuring gaming stations, the venue will also include a bar, a cinema area, a restaurant, a content creation studio, and an esports arena. The setup features a transparent soundproof dome, so teams can compete uninterrupted while fans get up close to the action.

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Dorian Gorr, Managing Director and Co-founder of VERITAS Entertainment, spoke on the venue with The Esports Observer: “Think of it like Hard Rock Cafe meets Soho House, but for esports and gaming. I hate when people call it a gaming cafe or arena, because that’s not it. For me it’s really a community center and hub.

“We are all building our childhood dream here. For us, it’s something where a lot of passion goes into all these little details, because people are building something they would enjoy as customers themselves.”

Upon opening, LVL will also launch a 24/7 gaming channel on Twitch and YouTube as part of a wider scheme to attract sponsors. The venue will reportedly be supported by 12 partners, though G2 Esports is the only company to have been named at the time of writing.

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Explaining LVL’s commercial approach, Gorr said: “The regular real estate business model is you, at the end, calculate how much money I make per square metre or square feet. Through unique content marketing, and bringing in brands, we increase the reach steadily. We can actually provide them a business model on top of this that is scalable, to some extent.”

Esports Insider says: A growing appetite for dedicated gaming and esports spaces across Europe and North America has seen a number of facilities spring up, but few look as sharp and well-equipped as LVL is set to be upon launch. There are sure to be plenty of eyes tracking the success of VERITAS’ investment into the stylish setup throughout the latter half of 2020.

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