The virtual reality scene just got a little more exciting, thanks to Sandbox VR. They recently celebrated a big milestone—$200 million in lifetime revenue. It marks a new chapter as they gear up for a significant expansion, with plans to debut 29 additional locations within the year.
Sandbox VR’s journey began in 2016 and has had its share of ups and downs. Like many businesses, the VR destination faced hard times during the COVID-19 pandemic. They even hit pause and filed for Chapter 11 bankruptcy in late 2020, having to let go of many employees during the shutdowns. But they bounced back, and boy, have they done it in style.
This year alone has been a blockbuster for the company. Sandbox VR has raked in $75 million from over 1.4 million players who have tried out their cutting-edge VR experiences at various locations worldwide. A big portion of this comes from their in-house VR games, like the much-talked-about Squid Game VR attraction. This particular feature has been a crowd-puller and brought in $30 million since launching in 2023. With features like these, it’s not hard to see why they charge between $50 and $60 per player for these fully immersive multiplayer moments.
The surge in business has emboldened Sandbox VR to expand by nearly 50% by rolling out 29 new locations. They’ve just launched their 60th location in Philadelphia, and there’s a string of new openings lined up. Looking forward, they’ve set their sights on target markets for 2025, which includes places like the USA, countries across Europe, the UAE, and parts of Asia, to name a few.
Since kicking off 2024, they’ve seen a surge in franchises, selling 83 units. In total, there are nearly 150 units in development with 34 operators—a sixfold boost in signings compared to the previous year.
Steve Zhao, the mastermind and CEO behind Sandbox VR, put it best when he noted, “Hitting $200 million in lifetime sales is a testament to our goal of crafting immersive and social VR experiences that unite people.” He mentioned that there’s a growing appetite from both operators and players who see the unmatched value they offer as they expand their global reach.
The numbers back him up. In 2024, the company welcomed an average of 117,000 players each month, and they’re predicting that number will rise to 150,000 monthly by 2025 with their new locations. It’s safe to say, Sandbox VR is changing the game in immersive experiences.
