London esports firm to close Australian venture as part of refocus
An esports solutions provider has announced the closure of its Australian joint venture at the end of this year in a bid to refocus the business.
Gfinity has confirmed it will close Gfinity Esports Australia in November in a move to prioritise ‘core markets’ and boost growth.
Based in London, Gfinity specialises in esports advisory services, designs and experiences such as gaming tournaments, and has partnered with brands such as EA Sports, Formula 1, Microsoft, Facebook, Amazon and Twitch.
The news follows a strategic review undertaken by the firm which concluded that the Australian business, which was launched in 2017, had not reached the required level of profitability and would need ‘significant’ additional capital investment to make it commercially viable.
Following the closure of the Australian business, Gfinity will instead focus on its ongoing expansion into the US market, as well as continuing to invest in its community building activities
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