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Immotion welcomes opening of the Ocean Explorer Virtual Reality Theater

Immotion has seen an 80% increase in the price originally negotiated for its attraction

Immotion Group -

Immotion Group PLC (LON:IMMO, the immersive entertainment group, has said its largest installation to date opened for business on August 1 in Las Vegas.

The 'Ocean Explorer Virtual Reality Theater' in the Shark Reef Aquarium at Mandalay Bay Resort and Casino, is a 36-seat virtual reality (VR) theatre complete with a full immersive pre-show area.

The fee for the VR experience will be set at US$9 per guest, which is included in the standard aquarium ticket package.

That represents an 80% increase on the US$5 price originally negotiated, Immotion said.

Historically, Shark Reef Aquarium has enjoyed more than 500,000 visitors a year who purchase the standard aquarium ticket package.

As a result of the coronavirus pandemic, a timed-entry ticketing system has been introduced at Shark Reef to facilitate physical distancing but the aquarium is still pulling in around 1,000 visitors a day.

On the new prices for Ocean Explorer, it can generate a net US$100,000 for month to Immotion, the company said.

On the back of the Ocean Explorer opening at Mandalay Bay, enquiries for larger installations are continuing, Immotion revealed.

The company said the opening of the venue at Mandalay Bay is a major milestone that, together with its other re-opened partner sites should significantly reduce the cash burn it has experienced during the lockdown.

"This new immersive centre looks truly amazing and will I am sure be a great showcase for how we can offer larger immersive attractions to potential partners,” Martin Higginson, the chief executive officer of Immotion Group said in a statement.

"We are committed to delivering the very best in immersive edutainment solutions, and despite the current difficult environment, we are determined to succeed and we will continue to do all within our powers to deliver. I am incredibly proud of the team we have developed at Immotion and they too are as determined as I that we deliver success," he added.

Shares in Immotion were up 2.4% at 2.74p in early deals.

Quick facts: Immotion Group

Price: 2.93999 GBX

AIM:IMMO
Market: AIM
Market Cap: £11.16 m
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Immotion CEO says opening of flagship 'Ocean Explorer' at Mandalay Bay is...

Immotion Group PLC's (LON:IMMO) Martin Higginson speaks to Proactive London following the announcement its largest installation to date has opened for business in Las Vegas. The 'Ocean Explorer Virtual Reality Theater' in the Shark Reef Aquarium at Mandalay Bay Resort and Casino, is a 36-seat...

on 4/8/20

2 min read