Houston Esports Venue Underway

A successful event for Houston, Texas, esports team Houston Outlaws has led to a local venture capital company developing an esports venue.

Business Wire –
The Overwatch Arena at BlizzCon, where top players from across the globe competed in the Overwatch World Cup finals.

Work America Capital hosted the watch party at a warehouse that reportedly drew about 700 spectators. The warehouse will be renovated into a $70 million 120,000-square-foot space called The Cannon as part of a tech hub development, according to the Houston Chronicle.

The 20-acre site will also include a gym, a football field, retail, restaurants and temporary housing for international tech entrepreneurs.

Esports continues to explode in popularity, drawing younger, tech-savvy fans to watch professional online competitions live or on video screens. Newzoo, an industry analysis company, reported the esports economy valued globally as high as $626 million for 2017. North America has the largest esports market, bringing in $257 million last year.

Revenue from merchandise and ticket sales and corporate sponsorships is projected to go as high as $1.5 billion by 2020, the Chronicle said.

The esports arena is expected to be completed by midyear.