F1® Arcade Welcomes New CEO Jonathan Peters for Growth Strategy

F1® Arcade, the innovative hospitality brand backed by the thrill of Formula 1 racing, has taken a significant step in its leadership transition by appointing Jonathan Peters as its new Chief Executive Officer. Previously serving as the Global President of the brand, Peters steps into this pivotal role as F1® Arcade gears up for an aggressive expansion strategy aimed at reaching more markets and introducing new concepts.

With this transition, the brand's founder, Adam Breeden, along with co-founder Diane Jervis, will shift to Non-Executive Director roles, allowing them to focus on strategic planning while leaving day-to-day operations to Peters and his management team. This change reflects a strategy that Breeden has utilized across his previous ventures: after laying a strong foundation, he emphasizes the importance of empowering a capable team to manage growth effectively.

F1® Arcade is set to expand its footprint with an exciting slate of new openings, including a 15,000-square-foot venue in Atlanta, which will mark one of its most prominent locations to date. Additionally, the brand will launch its first location in mainland Europe—specifically, a franchise venue in Madrid. This new site is a collaborative effort with Top Racing Iberia, establishing a joint venture with the goal of harnessing local expertise.

Demonstrating its adaptability and scalability, F1® Arcade recently unveiled the F1® Box, a compact arcade experience located in London’s Westfield Stratford City, ahead of its global rollout. This move showcases the brand's commitment to diversifying its offerings while maintaining the unique racing simulation experience that has attracted fans around the world.

Since its inception, F1® Arcade has been at the forefront of experiential hospitality, combining the excitement of F1 racing with exceptional dining experiences. With locations opening in cities such as Boston, Washington D.C., Philadelphia, Denver, and Las Vegas — all since its launch in London in 2022 — the brand has displayed significant growth momentum. It is also noteworthy that F1® Arcade has successfully raised $130 million in funding, paving the way for this ambitious expansion plan. The financial backing comes from eminent investors, including Cheyne Capital and Liberty Media.

The leadership team around Peters has also seen key changes to bolster this growth, with Adam Hughes taking the position of Chief Financial Officer and Tom Littlechild stepping in as the Interim Chief Marketing Officer. Furthermore, Janene Pretorius will enrich the team as the Chief People Officer, bringing extensive experience from prestigious hospitality organizations.

Peters, excited about his new role, commented, "F1® Arcade is entering a momentous new stage as a scale-up and I am thrilled to lead the business through our most ambitious phase. We have a proven concept supported by strong investor confidence, and my focus now is on turning that opportunity into sustained growth."

Meanwhile, Breeden expressed confidence in Peters' ability to steer the brand into its next growth chapter, lauding his clarity, leadership skills, and understanding of how to propel the business forward. With a solid foundation already established, F1® Arcade is poised to capitalize on this momentum, solidifying its position as a leader in the experiential hospitality sector and delighting fans worldwide with the exhilarating world of Formula 1.

In summary, the appointment of Jonathan Peters as CEO signals an essential phase of growth for F1® Arcade, targeting both the UK and US markets, with exciting plans to expand internationally. As they harness the power of their unique brand, there is no doubt that F1® Arcade will continue to evolve and engage audiences in unprecedented ways.