Back in 2020, the Atari Hotels project was first unveiled to the world, and while plans slowed down due to the pandemic, we finally have our first real update in years. Originally destined for multiple locations across America — now, the first Atari Hotel is being built in Phoenix, Arizona and the developers want you to become an investor.
Atari Hotels Vision - YouTube Watch On
Just to be clear, this isn't a hotel built by Atari; rather, a hotel built by external real estate and hospitality firms such as Intersection Development, along with designer räkkhaus. These companies have just licensed the Atari name and, therefore, the venue is retro gaming-themed with a heavy emphasis on esports, nostalgia, and pop culture in general.
Atari Hotels has an admittedly fancy website with all the project details, including the total budget, which is $124 million. So far, $14 million have already been raised, but they're opening the initiative to the public via a Regulation A Tier 2 fundraiser. The developers are gunning for $35-40 million but need at least ~$8.7 million for the offer to keep going. SEC rules, however, say they can accept up to $75 million. Simple math tells you that they'll still need more money beyond that point.
(Image credit: Atari Hotels)
Speaking of, Reg A is a legitimate way for private companies to attract outside investment, as outlined by the SEC. In this case, regular, everyday people can join in with a minimum $500 "unit," buying them equity into the project that promises returns in the future. There are options to invest up to $50,000+ on the investor portal.
The concept feels like crowdfunding (because it was inspired by it) but you'll likely own a piece of the land, the building, and all attractions, according to the site's FAQs. Your ROI will be determined by how much you invest, of course, and there are perks like a virtual tour of the site before its grand opening, and a "digital brick" in the hotel lobby.
That transitions us nicely into what this place actually is. The renders make it look like some sort of futuristic cyberpunk arena, akin to Ready Player One or Cyberpunk 2077. It's described as a "a destination for gaming, technology, art and immersive entertainment" spanning across 118,770 sq. ft., featuring a massive sports center and retail shopping areas.
(Image credit: Atari Hotels)
The aforementioned lobby is supposed to be garnered with large LED walls, and every corner of the hotel will be covered in art corresponding to the Atari brand and it is likely to be themed to whatever current event is unfolding at the venue. The press release mentions 2,000+ high-tech guest rooms, an immersive bar, restaurant, and concert venue. The cinema that was part of the original announcement five years ago seems to have sadly been omitted.
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