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Cosm is poised for an expansion that could see its innovative sports-viewing venues established in cities across the globe, including locations in the United States.
The company has successfully launched immersive dome venues in Los Angeles and Dallas, which provide an experience akin to attending live sporting events. Plans are underway to construct additional venues in Atlanta and Detroit by 2026.
Jeb Terry, the CEO of Cosm, recently revealed in an interview with CNBC Sports that the company is actively exploring international opportunities, driven by a surge of interest from real estate developers and municipal leaders worldwide.
“Daily, I receive inquiries from various parts of Europe,” Terry mentioned. “We are also getting calls from regions like China, the Middle East, Japan, and Australia, where demand for our venues is particularly high. We aim to identify the most effective strategy for global expansion.”
While Terry refrained from disclosing the specific costs associated with the development of these unique “shared experience” venues, it’s noteworthy that they incorporate massive 87-foot-diameter LED domes along with expansive screens designed to replicate the ambiance of a live game.
Currently, Cosm operates in Los Angeles and Dallas, but additional locations are on the horizon as part of its growth strategy.
The company is on a promising trajectory towards profitability, having raised $300 million from prominent investors. Notable names among its backers include Stan Kroenke, who owns the NFL’s Los Angeles Rams; Marc Lasry, the former owner of the NBA’s Milwaukee Bucks; and Dan Gilbert, who owns the NBA’s Cleveland Cavaliers.
Looking ahead, Terry mentioned that Cosm is planning another round of fundraising, with the amount to be sought contingent upon the momentum of the construction process. “We will be looking to raise again in the future,” he stated, adding that the speed of their growth will guide their financial strategies as the year progresses.
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