VR Attraction Chain Sandbox VR Surpasses $200M in Revenue, Plans 29 New Locations for 2025 Expansion

Sandbox VR, renowned for its innovative location-based virtual reality attractions, recently celebrated a significant milestone by surpassing $200 million in total revenue. The company is accelerating its global presence, aiming to launch 29 new sites throughout this year.

Since its inception in 2016, Sandbox VR has stood out as one of the few out-of-home VR entertainment avenues to weather the challenges of the COVID-19 pandemic. Despite filing for Chapter 11 bankruptcy and facing substantial staff reductions during 2020, they managed to bounce back with renewed vigor by the end of that year.

In a remarkable turnaround, Sandbox VR announced it has exceeded the $200 million revenue threshold, earning a notable $75 million in sales in 2024 alone. This success comes from catering to over 1.4 million players across an expanding network of venues worldwide.

A significant part of this income stems from their distinctive in-house creations, especially the popular Squid Game VR experience. Launched in 2023, this attraction alone has raked in $30 million, substantially boosting the company’s recent growth. Their immersive VR adventures, which typically accommodate groups of up to six people, are priced between $50 to $60 per participant.

The surge in popularity has spurred the firm to expand, with plans for 29 new venues set to increase their footprint by approximately 50%. The latest addition to their growing lineup is the 60th venue, opening this month in Philadelphia, Pennsylvania.

Sandbox VR’s franchise outlook for 2025 is ambitious, targeting countries such as the USA, and a host of others across Europe, the Middle East, Asia, Africa, and the Americas, including Canada, Malaysia, India, and several more.

As of early 2024, the company boasts the sale of 83 franchise units, with nearly 150 total units currently in development, handled by 34 operators. This marks a sixfold increase in franchise deal signings over the past year.

Steve Zhao, the CEO and founder of Sandbox VR, expressed his enthusiasm, stating, “Achieving $200 million in lifetime sales is a major milestone for Sandbox VR. It affirms our commitment to offering immersive and social VR experiences that unite people. Our global expansion through our franchise model is attracting immense interest, highlighting the distinct value we offer to both operators and consumers.”

Throughout 2024, Sandbox VR recorded an average monthly footfall of 117,000 players, with projections set for this number to grow to 150,000 in 2025 as the company continues to roll out new global destinations.