Vexed Gaming Shuts Down: What Went Wrong and What’s Next?

Vexed Gaming, the once revered UK esports organization, is closed, with senior management stepping away, leaving pro gamers hanging without a home or any real update on the closure.

Founded in 2015, Vexed Gaming holds the mantle of the most prominent British esports organization, or it did until recently. Vexed is known for having rosters in various competitive games, including Apex Legends, Counter-Strike, and Valorant. The organization has had a steady presence in UK esports for over half a decade before being acquired by Cooldown Ventures, an esports management company, in 2019.

The news comes as a shock to many fans and players who have followed Vexed’s journey over the last nine years. So what went wrong? If you trawl through the mud-slinging by those who have lost their jobs, speculation suggests that the problems started well before 2019 and condensed with the purchase of the North American organization Mock-it Esports in 2022.

Dan O’Hare, Vexed CGO, and Steve James, the marketing director, took to social media to tell fans about the shutdown, while other interested parties suggest that Vexed has ‘struggled to keep the lights on in the past year.’

The Esports Ecosystem

Until fairly recently, esports in the UK was considered one of Europe’s most exciting and lucrative ecosystems. However, after a global boom in esports in 2020, viewership and investment have since seen a slowdown in recent years, which is hurting European players in particular. This is largely influenced by factors outside of the games themselves.

But esports could continue on its growth trajectory by adopting similar strategies to that of a top UK casino. That sector has seen excellent expansion over the past decade in particular. The online casino industry has seen consistent profits because of the innovation in design and variety offered to consumers. New slot games are constantly being developed and released, alongside old favourites getting a makeover with new and interesting game mechanics. Glance at a casino site and you’ll see familiar faces like Megaways appearing alongside fresher takes on slots gameplay like Drops and Wins. Innovation on such a scale is arguably something esports fans haven’t had in a while. Audience figures and investment would be more likely to increase with exciting new games and events.

In 2020, a leading commentator, Olsberg SPI, a strategy consultant for the gaming industry, released a report that stated that the UK esports sector represents over 8% of the global market, with London providing a headquarters to many popular teams. With market share increasing thanks to Fnatic, Endpoint, and others (UK-based esports organizations) the future appeared bright for the UK market.

Vexed closure signals uncertainty for the UK esports industry. Famous gamers took to X (Twitter) to vent their views. ‘MaTaFe,’ AKA Matej Fekonja, told X that he got the news about the company’s shutdown by email, with several other players getting news about their fate in the same way.

As speculation continues about the downfall of Vexed, O’Hare and James add fuel to the fire by suggesting that nothing is over until the final kill, stating they are working on ‘taking back true control’ and starting a new session in the Vexed’s history.

We expect to see some culling, there will be losses, and the chances are Mock-it has been roasted, but only time will tell. Vexed may be problematic, but rebirth is possible in an industry that is constantly evolving.