ENTERTAINMENT

$35 million dollar 100 Thieves esports facility becomes biggest in country

Jan 24, 2020, 7:09 AM
esports...
(Courtesy 100 Thieves | Twitter)
(Courtesy 100 Thieves | Twitter)

(CNN) — Gaming and lifestyle company 100 Thieves has built the biggest esports facility in the United States. Located in Culver City, Los Angeles, the 15,000-square-foot compound may have an arcade and an outdoor basketball hoop, but it also has designated training rooms for playing video games professionally.

Twitter and Square CEO Jack Dorsey was present Wednesday for a ribbon-cutting ceremony. Square’s Cash App is a sponsor of the building.

100 Thieves, which was founded in 2017, is best known for selling apparel and having famous “Fortnite” streamers and pro players who compete in games like “League of Legends” and “Counter-Strike: Global Offensive.”

The new building has rooms dedicated to gaming including a “Fortnite” room, a “League of Legends” room and a “CS:GO” room. The rooms are decked with gaming chairs that retail for hundreds of dollars each and PC gaming rigs.

The new building, dubbed the “100 Thieves Cash App Compound” after its sponsor, is a warehouse that took about nine months to complete. Neighbors include Nike LA and Beats Electronics. Robinson said that the apparel shop will be open to the public a few times a year when 100 Thieves drops new clothes for purchase. It’s designed with an open-office layout so that passersby will be able to glimpse content creators’ workstations.

“From the stereotypes of having kids in their basements or how people are nerds to now seeing what [competitive gaming] has been building into and what it’s become, it’s an honor to take part in it. When everyone sees the big reveal today, they’ll really have their jaws drop,” Jack “CouRage” Dunlop, a popular Fortnite streamer with 100 Thieves, told CNN Business.

The unveiling of the lavish, multimillion-dollar building reveals what the 100 Thieves was spending its large investment on when it declined to participate in the Call of Duty League, an expensive franchise that holds its first match this weekend.

Last August, CEO Matt Haag announced that 100 Thieves could not afford to participate in the league and “everyone in our entire company is upset.”

“For us to make such a costly investment into Call of Duty would possibly jeopardize everything that this company has been building over the last year and half and two years for me. And it’s just a risk that we can’t take right now,” said Haag. “To make a financial commitment as large as this just isn’t possible for us right now…I’m just bummed.”

At the time, the announcement drew eyebrows from industry watchers, who noted that Haag is a former professional “Call of Duty” player with strong ties to the franchise and that the company had announced in July it raised an additional $35 million.

100 Thieves President and COO John Robinson told CNN Business the company had been working on building the esports facility while pursuing the Call of Duty League, but “ultimately decided that Call of Duty wasn’t the right fit for us.”

Teams had to pay $25 million to join the Call of Duty League, ESPN reported last March. Call of Duty League Commissioner Johanna Faries declined to comment on economics but said “it was great how much demand there was for franchising in the first season.”

Faries told CNN Business in January, “Everyone who has become part of our ownership group clearly understands the vision of the business.”

100 Thieves has raised $60 million in funding from investors including rapper Drake and co-CEO of Salesforce, Marc Benioff. “It’s nice to have such a significant amount of investment behind us, but we’re definitely not burning through that in a significant way,” said Robinson.

“We are not profitable yet,” he said. “We’re getting closer and it’s certainly in the near term future for us.”

The-CNN-Wire
™ & © 2020 Cable News Network, Inc., a WarnerMedia Company. All rights reserved.

Today’s Top Stories

Entertainment

NBA Ice Buckets...
Devin Oldroyd

NBA fans invited to show “ice in their veins” at NBA Ice Buckets challenge

The NBA and Utah Jazz invite you to play NBA Ice Buckets, a free-to-play indoor basketball shooting challenge at Trolley Square.
3 days ago
Ballet West "Nutcracker" battle scene....
Waverly Golden

Ballet West continues longstanding tradition, The Nutcracker

Until Dec. 24, Ballet West will be showing performances of The Nutcracker at the Janet Quinney Lawson Capitol Theatre in Salt Lake City.
3 days ago
video game...
Elizabeth Weiler

BYU students win international award for video game

SALT LAKE CITY — Students apart of the animation program at BYU received international recognition from the Rookie Awards for developing and producing a video game. Additionally, the “Highly Commended” also helped BYU earn the global ranking of fifth top video game design school.  The interactive computer game in question is titled Liminus: The Silent Guard, it […]
3 days ago
The Pantone Color Institute has named Viva Magenta as its color of the year for 2023, saying it is ...
Faith Karimi, CNN

Pantone reveals 2023 Color of the Year and new exhibit

The Pantone Color Institute's choice for 2023, Viva Magenta, is described as an unconventional color for an unconventional time.
3 days ago
The inventor of the Rubik's Cube offers advice for solving it, and says 'don't fear the complexity...
MARK KENNEDY AP Entertainment Writer

The mind behind the Rubik’s Cube celebrates a lasting puzzle

Ernő Rubik invented the cube in 1974. Since then, the puzzle has become a worldwide phenomenon with over 450 million cubes sold.
4 days ago
Christine McVie, one of the members of Fleetwood Mac, has died at the age of 79....
Lisa Respers France

Christine McVie of Fleetwood Mac dead at 79

A statement from McVie's family said she'd been hospitalized with a short illness, and that her family was with her when she died.
5 days ago

Sponsored Articles

Spicy Homemade Loaded Taters Tots...
Macey's

5 game day snacks for the whole family (with recipes!)

Try these game day snacks to make watching football at home with your family feel like a special occasion. 
Happy joyful smiling casual satisfied woman learning and communicates in sign language online using...
Sorenson

The best tools for Deaf and hard-of-hearing workplace success

Here are some of the best resources to make your workplace work better for Deaf and hard-of-hearing employees.
Team supporters celebrating at a tailgate party...
Macey's

8 Delicious Tailgate Foods That Require Zero Prep Work

In a hurry? These 8 tailgate foods take zero prep work, so you can fuel up and get back to what matters most: getting hyped for your favorite
christmas decorations candles in glass jars with fir on a old wooden table...
Western Nut Company

12 Mason Jar Gift Ideas for the 12 Days of Christmas [with recipes!]

There are so many clever mason jar gift ideas to give something thoughtful to your neighbors or friends. Read our 12 ideas to make your own!
wide shot of Bear Lake with a person on a stand up paddle board...

Pack your bags! Extended stays at Bear Lake await you

Work from here! Read our tips to prepare for your extended stay, whether at Bear Lake or somewhere else nearby.
young boy with hearing aid...
Sorenson

Accommodations for students who are deaf and hard of hearing

These different types of accommodations for students who are deaf and hard of hearing can help them succeed in school.
$35 million dollar 100 Thieves esports facility becomes biggest in country