Immotion Group plc
("Immotion Group", "Immotion", the "Company")
Immotion Group, the UK-based immersive 'Out of Home' entertainment group, is pleased to announce further development and roll out of its partnership model.
As stated at the time of the recent placing, the Company is now focused on the roll out of its partnership model into high footfall locations. Trading in the current partner sites has been very encouraging over the summer months, with aquariums continuing to perform particularly strongly and overall there remains considerable interest from potential new partners as well as further developments with current partners.
Following early success at The 02, Immotion has agreed to extend the offering to include five additional headsets, taking the total number of headsets deployed to 17. The new addition will feature a five-person car racing set-up where users will be able to compete 'head to head' in the award winning 'Project Cars 2' game. Users will be able to choose from over 180 different cars, on 60 different tracks. This addition will see The O2 offering a four-person Roller-Coaster VR experience, a four-person Underwater Explorer range of experiences, the four-person 'free-roaming' 'Raw Data' futuristic shooting experience, plus this latest addition, a five-person car racing challenge.
The O2 is the world's most popular music and entertainment venue, receiving over 9 million visitors a year.
Immotion has also agreed to extend its relationship with leading Family Entertainment Centre operator, Austin's Park in Texas. The 22 acre family entertainment centre has agreed to trial Immotion's four-person 'Raw Data' arena, along with its four-person Thrill Coaster set-up. On the assumption of a successful trial the Company will begin offering this solution to the wider family entertainment centre market.
On 10 September 2019 the Company will launch its first bespoke 'Tower Coaster' VR experience at Blackpool Tower, the Merlin owned Entertainment Centre. The new experience will feature a thrilling roller coaster ride "falling" over 400 feet from above the Blackpool skyline. This is the first in a range of tailored 'Tower Coaster' city experiences which can be themed around any cityscape.
In addition to Blackpool Tower, the Company has agreed further installs into the Merlin estate. The first at Legoland Windsor, this being a four person 'The Great Lego Race' VR experience, and the second at London's largest aquarium, the 'London SeaLife Aquarium' centre on the famous Southbank. This landmark site boasts over 1m visitors per annum. This site will be installed in September 2019 and will see the official launch of the Company's latest 'Underwater Explorer' experience, 'Shark Dive' which gives customers the opportunity to get up close and personal with Tiger and Hammerhead Sharks in a highly immersive underwater experience.
The Company will make a full update on trading and prospects along with its interim results which are expected to be released on 25 September 2019.
Rod Findley, Immotion Group Commercial Director said: "Demand for our entertainment and edutainment VR offerings continues to gain momentum. Our unique partnership approach allows facilities to make a pain free decision to enter the Immersive VR space."
Martin Higginson, Immotion Group CEO said: "Earlier this year we took the bold decision to focus all our efforts on building our partner base and scaling our unique Partnership model. Rod and his team have done an amazing job adding more quality partners to our fast-growing network. On the back of this success we have decided to further scale his Partnership Team and we look forward to reporting more partnership successes in the coming weeks."
For further information please visit www.immotion.co.uk, or contact:
Tel: +44 (0) 161 235 8505
WH Ireland Limited
(Nomad and Joint Broker)
Tel + 44 (0) 207 220 1666
Shard Capital Partners LLP
Tel: +44 (0) 20 7186 9900
Alvarium Capital Partners
Tel: +44 (0) 207 195 1433
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Quick facts: Immotion Group
Market Cap: £21.52 m
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