Sign up United Kingdom
Proactive Investors - Run By Investors For Investors

Immotion partners up with casino operator Rank Group

The virtual reality group is putting its new racing simulator in Rank’s Grosvenor casino in Manchester, before rolling out to some of the 53 other UK sites
immotion centre
Immotion is eyeing expansion around the world, not just the UK

Immotion Group PLC (LON:IMMO) has signed a revenue sharing deal with Rank Group PLC (LON:RNK) which will see it roll out its virtual reality (VR) machines at some of the casino giant’s sites.

AIM-quoted Immotion will trial its new VR Racing Challenge simulator game at the Grosvenor casino in Manchester.

‘VR partner of choice’

Should that initial run prove successful, the plan is to roll out more machines at some of Grosvenor’s 53 other UK casinos.

 “We continue to see strong interest from major leisure operators wanting to partner with Immotion Group to exploit the growing appetite for VR,” said chief executive Martin Higginson.

“As the only player offering quality proprietary content, motion platform and marketing solutions in multiple jurisdictions, we are quickly becoming the VR partner of choice.”

Strong UK trading

Immotion said it has enjoyed a period of “strong trading”, especially during the recent October half-term holiday.

As such, it is opening five new ImmotionVR Experience Centres, two of which will be at Intu shopping centres in Glasgow and Newcastle. London, Swindon and Birmingham are the other locations.

These will bring the number of UK centres up to 12 and the plan is to grow that to 50 over the next two years.

Two new concession partners which should “substantially increase” the number of installed gaming seats have also come on board, while Immotion is also opening two smaller sites in Somerset and Nottingham.

New openings in US and Middle East

The group is targeting more rapid growth across the pond, where it recently opened its first test site in Los Angeles.

It hopes and expects this will be a success and is targeting 100 US centres by the end of 2020.

Immotion has also made a move into the potentially lucrative Middle East market, having signed an agreement with shopping malls owner Al Hokair Group.

Much like the Rank deal, this tie-up will see one ImmotionVR Experience Centre opened in Abu Dhabi, with further to follow based on test results.

“The new concession initiatives with The Rank Group and Al Hokair are both major milestones for the company and I am confident that following successful trials, we will have a clear runway for future site rollout,” added Higginson.

The boss also highlighted two new experiences, including Elf Power Inc, which he reckons will prove a hit over the upcoming holiday season.

View full IMMO profile View Profile

Immotion Group Timeline

Newswire
August 13 2018

Related Articles

Partners shake hands with a US flag in the backdrop
Wed
The company's recent acquisition Telerhythmics wrote US$3.2 million revenues in just nine months.
ROBO Global US CEO Travis Briggs
August 14 2018
Investors can buy directly into the popular ROBO ETF based on the benchmark index comprised of 87 top robotics, automation and AI companies.
marketing
September 18 2018
New business from the likes of Vodafone and GSK and a strong contribution from The Corner, which it acquired in December, meant revenues jumped 70% in the first half

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use