VR Installation at The O2
Immotion Group plc
("Immotion Group", "Immotion", the "Company")
VR Installation at The O2
Immotion Group, the UK-based immersive 'Out of Home' entertainment group, is pleased to announce the installation of a 12-station VR entertainment zone at The O2, in Greenwich, London.
The agreement with Waterfront Limited Partnership ("Waterfront"), the joint venture between owner of The O2, AEG Europe, and Crosstree Retail Partners, will see the first installation of the Company's new themed VR Arena, a four-person free-roaming shooting experience, exclusively featuring the global number one interactive VR game 'Raw Data'. In addition to the Arena, the Company will install two VR cinema pods, the first featuring a series of VR Roller Coasters, and the second being the new 'Undersea Explorer' stand, a four-person motion Cinema where users can experience swimming with Turtles, Humpback Whales and Tiger Sharks in VR.
The O2 is the world's most popular music and entertainment venue, receiving over 9 million visitors a year to the 20,000 capacity arena, and entertainment district of more than 29 bars and restaurants, multiplex cinema, trampoline park and bowling alley. It is also the home of outlet shopping in London following the opening of ICON Outlet, a 210,000 sq ft premium urban outlet.
The installation, which is located beside the new Street Food Quarter, will run for an initial six-month period allowing the Company to test both the Summer and Christmas holiday periods with profits generated being shared between Immotion and Waterfront.
Martin Higginson, Immotion Group CEO said: "I am thrilled to be bringing our VR experiences into such an iconic location as The O2. We are confident this initial trial through to early 2020 will prove successful and we look forward to working with Waterfront on a long-term basis.
Our focus on quality high footfall edutainment and leisure locations doesn't get any better than The O2. Adding a range of VR experiences to this landmark destination will, we hope, make the visitor journey even more enjoyable.
We continue to provide our partners with new exciting attractions that complement their offerings and generate valuable ancillary revenue for them, whilst building recurring revenues for Immotion. We believe this is a highly scalable model with global potential."
Marion Dillon, Leasing Director for The O2 added: "Immotion's new VR entertainment zone is a great addition to The O2, providing visitors with a unique experience that complements the breadth of offer already available. Initiatives such as this are vital as they provide additional reasons to visit, or can help extend an existing trip, both of which help deliver additional sales for our retailers, cafés, bars and restaurants.
The Immotion VR entertainment zone is the latest in a series of new arrivals at The O2, with ICON Outlet recently signing pop-up fashion label sale company, Showcase.co, and Beer + Burger, Thunderbird Fried Chicken, by CHLOE, and Hai Di Lao joining the food and beverage offering."
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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Market Cap: £18.99 m
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