Hall of Fame Resort & Entertainment Co. in Canton, Ohio, is partnering with a Birkirkara, Malta-based company to bring esports to the football-themed resort it is building around the nonprofit Pro Football Hall of Fame.
Esports Entertainment Group will operate a Helix eSports interactive esports complex as part of the eventual retail and entertainment offerings at the resort's Hall of Fame Village powered by Johnson Controls, the resort and entertainment company said in a press release.
Slated to open in mid-2022, the Helix eSports entertainment center will serve as practice, competition and tournament space for esports activities and events, the Canton company said.
The esports center also could help the emerging resort participate in demand for esports worldwide.
Having an esports complex as part of our development adds a compelling opportunity for gaming enthusiasts to engage in virtual environments, said Michael Crawford, president and CEO of the local entertainment company, in a press release.
The esports complex also could offer "the ability to draw in fans from all over the world — both in person and virtually — providing us with strategic growth opportunities within our company’s gaming vertical," Crawford said.
The competitive gaming audience for esports is expected to grow at a compound annual rate of 7.7% to 577 million by 2024, while the live-streaming audience is on track to reach 920 million within the next three years, according to a report by market researcher Newzoo.
This growth will be driven, in part, by mobile gaming's popularity in Latin America, the Middle East, Africa, Central Southern Asia, the Asia Pacific and Southeast Asia, Newzoo said.
Meanwhile, the global esports and games streaming business could be worth more than $3.5 billion by 2025, up from $2.1 billion in 2021, according to a report by Juniper Research.
The new partnership also could open the door to esports and fantasy sports betting at the resort as legislators work to legalize sports betting in Ohio over the next few months, the resort and entertainment company said.
Helix eSports will join brands such as Topgolf Swing Suites, Don Shula's, American Standard and Starbucks at the resort that eventually is expected to include centers for excellence and performance and additional youth fields, as well as an indoor waterpark, retail promenade and two hotels.
Shares of Hall of Fame Resort & Entertainment (Nasdaq: HOFV) was up more than 7% to $3.65 in early afternoon trading on Friday.
