Formula 1's acclaimed F1 Arcade concept has this morning revealed its inaugural franchise deal, with the entertainment and gaming destination poised to arrive on the Iberian Peninsula.
F1 Arcade's premier venue sits at One New Change in St Paul's, though the Formula 1-affiliated experiential hospitality brand also operates locations in Birmingham, alongside Boston, Washington DC and Philadelphia across the Atlantic, as reported by .
The company intends to launch three venues in Las Vegas, Denver and Atlanta before year-end.
However, the franchise expansion, agreed with Top Racing Iberia, will witness F1 Arcade locations debut in Madrid by 2027, followed by Portugal.
The initiative stems from a $130m investment round spearheaded by Cheyne Capital, which backs various structures encompassing credit and corporate equity.
The funding round – which concluded in 2024 – additionally featured involvement from Formula 1 proprietors Liberty Media Corporation, specialist credit backer Permira and British lender OakNorth.
Formula 1 expansion
Pablo Juantegui, chief of Top Racing Iberia said: "Joining the F1 Arcade universe is much more than a business decision: it's an exciting opportunity to bring a unique entertainment experience to Spain and Portugal.
"This partnership links us to a world-class brand and inspires us to open a new chapter in experiential leisure."
The development follows Formula 1's introduction of F1 Box at Westfield Stratford, which provides a simulator experience for brief racing sessions. The motor racing discipline has seen a surge in interest since the Covid-19 pandemic, with Formula 1 estimating a total global fan base of 827m.
In their half-year summary, they reveal that 43 per cent of their fan base is under 30 years of age, while 42 per cent of the Formula 1 audience is female.
The upcoming Grand Prix this weekend in Italy sees McLaren's Oscar Piastri as the favourite to clinch an inaugural solo title.
