Immotion Group indicates strong performance of partnership model
, the UK-based immersive “Out of Home” entertainment group, posted an update on the roll out of its partnership model.
The company said that trading in current partner sites have been encouraging over summer months.
It noted that aquariums were performing particularly strongly, with considerable interest from potential new partners, in addition to further developments with current partners.
The company said that after success at The 02, they are to extend the number of headsets to 17, up from 12, to add to its entertainment offering at the venue which has over 9 million visitors a year.
Immotion also extended its relationship with The Family Entertainment Centre operator, Austin's Park in Texas. The 22 acre family entertainment centre agreed to trial Immotion's four-person 'Raw Data' arena, along with its four-person Thrill Coaster set-up.
The Company also announced on Tuesday it will launch its first bespoke 'Tower Coaster' VR experience at Blackpool Tower, the Merlin owned Entertainment Centre, featuring a roller coaster ride over 400 feet above the Blackpool skyline.
Shares in Immotion were trading 5.3% higher at 6.95p
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."
Investors will be anticipating interim results expected to be released on 25 September 2019.
Cavendish Asset Management, Rathbone Investment Management and Unicorn Asset Management all are major shareholders in the company which listed on AIM last year.
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