Gfinity Esports Australia is set to close at the conclusion of the revamped V8 Supercars Esports Series on November 24th.

The news was confirmed earlier this week, in the statement, HT&E chairman Hamish McLennan said, “While the business has achieved some significant and world-leading results, the economics of esports in the Australian market are yet to deliver sustainable, positive earnings.”

It is thought that Gfinity Esports posted a $5.3 million loss on the parent company HT&Es investments as of 30th June this year.

The news isn’t expected to affect any of the six rounds for the V8 Supercar Esports series that will be broadcast live on Fox Sports on September 24th.

 

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