World Chess PLC has released its financial results for the year ended 31 December 2023, showcasing significant achievements and strategic initiatives. The company successfully listed on the Main Market of the London Stock Exchange, raising approximately €3.5 million on listing and an additional €2.3 million from an existing investor after the listing. In May 2023, World Chess Club Berlin officially opened, providing a vibrant hub for chess enthusiasts and hosting the finals of the inaugural Armageddon Chess Championship. The company has also expanded its broadcast reach, partnering with 33 television networks to showcase its events globally.
Furthermore, World Chess made substantial investments in digital innovation, launching FIDE Online Arena version 2.0 with new features and improved gameplay. Ilya Merenzon, CEO of World Chess, expressed satisfaction with the company's performance, highlighting the successful opening of the Berlin chess club and the global attention garnered by the Armageddon series. He also emphasized the positive reception of FIDE 2.0 and the continued rise in subscriptions.
Looking ahead, World Chess remains committed to expanding its ecosystem and driving growth. The company plans to launch new initiatives associated with the FIDE Online Arena and attract new commercial partners. The Chair of World Chess PLC reported that the company's strategy for growth includes creating diversified revenue streams spanning online gaming, tournaments, chess clubs, and merchandise. The listing on the London Stock Exchange in April 2023 provided access to new funds and raised the profile of the World Chess brand and the sport.
Overall, World Chess PLC's financial results for 2023 reflect a successful year marked by strategic investments, expansion of its global reach, and a commitment to enhancing the mass market appeal of chess. For more information, the full Annual Report and Financial Statements for the period ended 31 December 2023 are available on the company's website.