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LONDON - World Chess Plc (LSE:CHSS), the official commercial partner of the International Chess Federation (FIDE), announced today the closure of its Berlin club location by the end of April 2025. The company, which also operates the digital chess platform FIDE Online Arena, stated that the Berlin club, opened in 2023, did not meet its commercial targets despite developing a dedicated following.
Ilya Merenzon, CEO of World Chess, explained that while the Berlin club became a popular destination for chess enthusiasts, it fell short financially. "We’ve learned why - and we’re redesigning the format accordingly," Merenzon said. The decision to close the club is part of a strategic shift towards creating a scalable network of chess venues that will support both physical and digital chess experiences.
The new venue model aims to reduce fixed costs and ensure sustainability, drawing on lessons from the Berlin club. The strategy includes enhancing user acquisition for ChessArena.com, providing venues for the World Chess Tour, expanding sponsorship opportunities, and establishing a membership-based revenue model.
World Chess, known for organizing the FIDE Championship Matches and developing the Armageddon chess league, is focusing on integrating its real-world events with its digital infrastructure to achieve broader commercial objectives.
The company’s statement is based on a press release and contains information that was considered inside information prior to its disclosure. Further details on World Chess’s operations and its digital platform can be found at their website.
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