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accesso's new wearable device "a significant step-up in functionality"

Last updated: 10:15 16 Nov 2016 GMT, First published: 10:10 16 Nov 2016 GMT

Roller-coaster
Now you can leave the smartphone at home

Ticketing and virtual queuing group accesso Technology Group (LON:STR) has come up with another must-have gizmo to improve the theme park experience.

The company has launched accesso Prism, which it claims is the most technologically advanced smart park wearable device available.

The Prism is a compact, un-tethered and lightweight wearable device, offering a variety of functions that can be adapted for a wide range of venues including theme parks, water parks, ski resorts and museums.

Among its time-saving features are: virtual queuing; cashless payments; proximity-based marketing; tagging of ride photographs; access to personal guest lockers.

Through its swipe-screen interface, these features also make accesso Prism the first device capable of delivering a fully integrated 'smart park' experience where guests and operators can seamlessly interact, accesso said.

"Untethered by a smartphone or rigorous pre-planning requirements, guests can now enjoy a carefree, hassle-free and wait-free experience when they visit their favourite venue,” said Steve Brown, chief executive officer of accesso.

Tom Burnet, executive chairman of access, said the company had invested considerably in the product, which is set to define a new industry standard for in-park wearable devices.

Numis Securities said the new device combines accesso’s core queuing technology with a range of other features within a touchscreen wristband.

It offers, in Numis’s words, a significant step-up in functionality from the previous Q-Bot and Q-Band devices.

“The device was formally launched at the IAPAA industry tradeshow in Orlando yesterday, although we believe that there was already strong pre-launch interest. We understand that the ramp-up in FY16 capitalised cost was largely related to this device, suggesting that there is at least one significant customer already signed up,” Numis said, adding that its guess was that Universal’s Volcano Bay water park, which opens in 2017, would fit the bill as said major customer, as it has already announced it would use a new queuing wristband that has the functionality offered by Prism.

“If so, this would broaden accesso's existing relatively small presence with Universal, one of the largest operators in the world,” noted Numis’s David Toms.

“We accept that near term estimate momentum is muted due to July/August weather, and on a Numis basis, forecasts have been heavily impacted by R&D investment in this new product; however, we take this investment as a strategically positive sign and given the scale of the market opportunity, we think there is plenty of runway ahead of accesso,” the broker said.

Shares in accesso were up 3.9% in mid-morning trading.

---adds broker comment and share price---

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