Adam Breeden has stepped down from the board at State of Play Hospitality in order to concentrate on his other business interests including F1 Arcade.
The experiential leisure entrepreneur co-founded All Star Lanes, Bounce, Flight Club, Puttshack and Hijingo.
Bounce, Hijingo and Flight Club USA are now part of State of Play.
Earlier this year, F1 Arcade has closed its latest round of fundraising with a £30m investment to fund expansion, with plans to open more than 30 locations globally by the end of 2027.
The funding supports the Formula 1 simulator racing experience’s international expansion plans, primarily in the US, where the business is building a pipeline, with the first US site scheduled to open in Boston in 2024.
F1 Arcade is also in discussions with franchise partners in Europe, the Middle East, and Australia, among other territories.
The investment round follows the success of its flagship site in London’s St Pauls, which has surpassed revenue expectations, according to the brand.
It was led by Liberty Media and Formula 1, with participation from investment firm Imbiba and support from McLaren Racing CEO Zak Brown and Formula 1 drivers Lando Norris and Logan Sargeant.
Adam Breeden, CEO and founder of F1 Arcade, said: “Not only do we have an exceptional business model and product, but we are excited about the power of the F1 Arcade brand, its appeal to international audiences as well as potential partners around the world.
“Given the success of the first location and its appeal to such a diverse audience, we believe F1 Arcade has the potential to become one of the most sought-after experiential hospitality brands globally. For now, we are eagerly anticipating the opening of Birmingham UK in late 2023 and our first US site in Boston in early 2024 as well as announcing further locations imminently.”
