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Immotion Group PLC - Ocean Explorer opens at Mandalay Bay in Las Vegas

RNS Number : 0031V
Immotion Group PLC
04 August 2020
 

Immotion Group plc

("Immotion Group", the "Company")

 

Immotion's Ocean Explorer opens at Mandalay Bay in Las Vegas

 

Immotion Group, the UK-based immersive entertainment group, is pleased to announce its largest installation to date, 'Ocean Explorer Virtual Reality Theater' in Shark Reef Aquarium at Mandalay Bay Resort and Casino, opened on 1 August.

 

The Ocean Explorer installation is a 36-seat VR theatre complete with a full immersive pre-show area, including a number of new attractions, including 'Shark Tracker,' 'Songs of the Sea,' 'Humpbacks Revealed' and the 'Shark Cage Selfie Snap' booth.

 

The fee for the VR experience will be set at $9 per guest, which is included in the standard aquarium ticket package.

Historically, Shark Reef Aquarium has enjoyed in excess of 500,000 visitors per annum purchasing the standard aquarium ticket package.

 

Following the pandemic, a timed-entry ticketing system has been introduced at Shark Reef to facilitate social distancing.  Nevertheless, we are pleased to report the aquarium is currently welcoming circa 1,000 visitors per day.

 

On the back of the Ocean Explorer opening at Mandalay Bay, enquiries for larger installations are continuing. A growing number of potential opportunities are in discussion and we expect to focus our efforts in this area as we move forward. The opening will, we are sure, prove to be a great exemplar of what can be achieved.

 

We hold sufficient levels of fully paid-up stock, including motion platforms, and VR headsets to cover installs for the foreseeable future.  

 

The opening of the venue at Mandalay Bay is a major milestone for the Company; together with our other re-opened Partner sites should deliver meaningful contribution and help signifcantly reduce the cash burn we have experienced in lockdown.  We remain focused on cash and cost control whilst carefully seeding future opportunities.

 

Martin Higginson, Immotion Group plc CEO, said: "The opening of our flagship 'Ocean Explorer' immersive centre at Mandalay Bay is major milestone. We trust it will be a great addition to the Shark Reef experience and a major success for both parties."

"Our team has worked incredibly hard to get this site delivered in a challenging environment, for which I thank them. This new immersive centre looks truly amazing and will I am sure be a great showcase for how we can offer larger immersive attractions to potential partners."

 "We are committed to delivering the very best in immersive edutainment solutions, and despite the current difficult environment, we are determined to succeed and we will continue to do all within our powers to deliver. I am incredibly proud of the team we have developed at Immotion and they too are as determined as I that we deliver success."

"I look forward to updating the market on further progress in the coming weeks."

 

 Enquiries:

 For further information please visit www.immotion.co.uk, or contact: 

 

Immotion Group

 

Martin Higginson

Tel: +44 (0) 161 235 8505

WH Ireland Limited

(Nomad and Joint Broker)

 

 

Adrian Hadden 

Darshan Patel

Matthew Chan

 

 

Tel + 44 (0) 207 220 1666

Shard Capital Partners LLP

(Joint Broker)

 

Damon Heath

Erik Woolgar

Tel: +44 (0) 20 7186 9900

Alvarium Capital Partners

Alex Davies

Tel: +44 (0) 207 195 1433

 

 

 


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Price: 2.425

Market: AIM
Market Cap: £9.2 m
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