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World Chess Plc announced the impending closure of its Berlin venue by the end of April 2025. The location, which opened in 2023, did not achieve its commercial objectives. The company will use findings from a strategic review to establish a revised venue model.
| Date | 17 Apr 2025 |
| Time | 12:00:00 |
| Category | Corporate updates |
| ID | 4555F |
Closure of Berlin Club Location and Plans for Revised Venue Strategy
World Chess Plc (LSE: CHSS), World Chess Plc, the London-listed chess organisation and operator of FIDE Online Arena (chessarena.com), announces the impending closure of its Berlin venue. The Berlin location, which opened in 2023 as a concept space, developed a loyal chess clientele but did not achieve its commercial objectives. Following a detailed operational and strategic review, the Company will close the site at the end of April 2025 and use the findings of the review to establish a revised venue model.
"The original Berlin club became a popular chess hub, but commercially it didn't deliver the results the Company expected. We've learned why - and we're redesigning the format accordingly," said Ilya Merenzon, CEO of World Chess. "This is part of a larger strategy to build a scalable network of chess venues that combine real-world events with our digital infrastructure."
Strategic Context
The revised venue model will support World Chess's broader commercial objectives to:
● Enhance player acquisition and engagement for ChessArena.com
● Provide physical hubs for the World Chess Tour and licensed events
● Enable new sponsorship and brand integration opportunities
● Create a platform for membership-based and recurring revenues
Each location will be designed to operate with significantly lower fixed costs and a clear path to sustainability, based on lessons learned from the original Berlin site.
This announcement contains information which, prior to its disclosure, was inside information as stipulated under Regulation 11 of the Market Abuse (Amendment) (EU Exit) Regulations 2019/310 (as amended).
For more information, visit: www.worldchess.com or contact:
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World Chess Ilya Merenzon, CEO |
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Novum Securities Limited - Financial Adviser David Coffman / Anastassiya Eley |
+44 (0) 20 7399 9400 |
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Notes to Editors
About World Chess Plc
World Chess (LSE: CHSS) is a London-based chess gaming and entertainment company and Fédération Internationale des Échecs ('FIDE') official commercial partner. World Chess organised the FIDE Championship Matches in the USA, and the UK, and revolutionised the sport by signing the biggest media partnerships in history. World Chess develops Armageddon, the chess league for prime-time television. World Chess also runs FIDE Online Arena, the exclusive official chess gaming platform. More at worldchess.com.