SandboxVR Opens Las Vegas Location, 15 More Planned By 2022
Location-based VR entertainment startup is bouncing back following its slide into bankruptcy over the past year when the COVID-19 pandemic and the subsequent lockdown measures literally wiped out its LBE business when the company had to close its locations and lay off most of its staff.
The company has emerged from a Chapter 11 bankruptcy and a debt restructure and with the COVID-19 vaccinations successfully rolling out across the US, the VR startup is feeling bullish enough about i8ts business prospect this and is planning to open a new location at the Grand Canal Shoppes in The Venetian Resort, Las Vegas. By the end of the year, the company plans to operate 15 locations across the world.
Sandbox VR’s Las Vegas location will open “in the early summer of 2021” according to the company. It is joining a long list of companies that are now rebounding after a battering by the economic effects of the pandemic for much of the past year. This is happening as the US moves to contain the pandemic with an aggressive vaccination campaign. Sandbox VR’s comeback will also be a boon for the commercial real estate locations which suffered greatly over the past year as foot traffic virtually disappeared from their premises.
SandboxVR has the advantage of being a comparatively lean company and its multiplayer virtual reality locations don’t require elaborate 4D sensorial gadgets like its erstwhile competitor, THE VOID, which had to permanently shut down all of its locations across the globe including its flagship location at the Grand Canal Shoppes when the pandemic hit them hard last year. Unlike Sandbox VR, THE VOID has little hope of bouncing back to its feet. Its website is down after it was entirely abandoned by Disney and the holding company isn’t showing any signs of springing back to life either.
On the other hand, Sandbox VR appears to have some good prospects and is showing signs of optimism following the rollout of the vaccination program in the US. The company says it saw a 30% rise in demand from before the pandemic at their present locations outside Chicago and in Austin after the state governments in these locations lifted the COVID-19 restrictions.
In spite of the optimism, it will take time before the hard-hit virtual reality arcades get back to their pre-COVID levels of business. The prospects look good for this industry with some well-funded virtual reality startups leading the way with lots of planned releases. The VR arcades can take comfort in the fact that there is still a lot of money to be made in this industry in the future.
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