REG - World Chess PLC - Closure of Berlin Club and Revised Venue Strategy

World ChessAnnouncement

17/04/2025 12:00

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RNS Number : 4555F  World Chess PLC  17 April 2025

World Chess Plc
("World Chess" or the "Company" or the "Group")

 

                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 (http://www.worldchess.com/)
or contact:

 

 

 World Chess                                    merenzon@worldchess.com

 Ilya Merenzon, CEO

 Novum Securities Limited - Financial Adviser  +44 (0) 20 7399 9400

 David Coffman / Anastassiya Eley

 

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
(https://worldchess.com/) .

 

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