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Immotion strikes deal for VR theatre at Sea Life Orlando
3rd Aug 2021 11:48
(Sharecast News) - Virtual reality (VR) company Immotion announced on Tuesday that it has agreed to install a new 16-seat theatre-style installation at the Sea Life Orlando aquarium in Florida, part of the Merlin Entertainments group.
The AIM-traded firm said the new theatre would be installed over the coming weeks, with the contract for an initial period of three years.
It said Sea Life Orlando would be its third larger-style installation, following successful installations at Shark Reef Aquarium in Las Vegas and Clearwater Marine Aquarium in Florida, which it said were both trading strongly.
Following the successful launch of its 22 seater installation at Clearwater Marine Aquarium, Immotion added that it had agreed to a 12-month extension to the original agreement.
Clearwater originally entered into an initial year-long contract with Immotion, which launched in March 2021.
The group said it had also completed two smaller installations at Legoland Discovery Center Bay Area in Milpitas, California, with four seats, and a summer pop-up at Lightwater Valley Theme Park in Yorkshire, with six seats.
"The overall performance of our location-based entertainment business continues to be very strong, driven by our new larger-style formats," said commercial director Rod Findley.
"The new installation at Sea Life Orlando, as well as the contract extension from Clearwater Aquarium is the latest step on this new area of focus as we look to accelerate growth.
"Interest in new installations remains strong, and with our new zoo offering looking to be ready for installs in the first quarter of 2022, we are extremely excited for the future of our business."
At 1538 BST, shares in Immotion Group were up 4.35% at 6p.
The AIM-traded firm said the new theatre would be installed over the coming weeks, with the contract for an initial period of three years.
It said Sea Life Orlando would be its third larger-style installation, following successful installations at Shark Reef Aquarium in Las Vegas and Clearwater Marine Aquarium in Florida, which it said were both trading strongly.
Following the successful launch of its 22 seater installation at Clearwater Marine Aquarium, Immotion added that it had agreed to a 12-month extension to the original agreement.
Clearwater originally entered into an initial year-long contract with Immotion, which launched in March 2021.
The group said it had also completed two smaller installations at Legoland Discovery Center Bay Area in Milpitas, California, with four seats, and a summer pop-up at Lightwater Valley Theme Park in Yorkshire, with six seats.
"The overall performance of our location-based entertainment business continues to be very strong, driven by our new larger-style formats," said commercial director Rod Findley.
"The new installation at Sea Life Orlando, as well as the contract extension from Clearwater Aquarium is the latest step on this new area of focus as we look to accelerate growth.
"Interest in new installations remains strong, and with our new zoo offering looking to be ready for installs in the first quarter of 2022, we are extremely excited for the future of our business."
At 1538 BST, shares in Immotion Group were up 4.35% at 6p.