Immotion Group PLC Distribution Partner for MENA appointed (3398R)
February 28 2019 - 2:00AM
UK Regulatory
TIDMIMMO
RNS Number : 3398R
Immotion Group PLC
28 February 2019
28 February 2019
Immotion Group plc
("Immotion Group", the "Company" or "the Group")
Distribution Partner for MENA appointed as roll-out
continues
Immotion Group plc, the UK-based immersive virtual reality
("VR") 'Out of Home' entertainment business, is pleased to announce
that it has appointed Dubai-based Warehouse of Games as its
exclusive distribution partner for the Middle East and North
African territories ("MENA").
Warehouse of Games will sell, distribute and maintain the
Immotion Group range of VR Cinematic Platforms to its extensive
MENA client base. The agreement is in line with the Company's
strategy to become a leading participant in the 'out of home' VR
experience market. The appointment of a distribution partner
provides a low-cost route to establish the Immotion Group brand
across this rapidly growing region. The tourism industry in the
MENA region is expected to reach over US$365 billion by 2027 (2017:
US$224 billion), primarily driven by the leisure and religious
tourism sectors. Leisure travel spending is expected to grow by
4.3% pa to US$202.6 billion in 2028*.
As part of the agreement, Warehouse of Games will deal with the
on the ground delivery, installation and repairs of Immotion
Group's 'out of home' VR experiences, in order to fulfil the recent
contract the Company secured with Al Hokair (detailed in the
announcements dated 8 November 2018 and 5 February 2019). Al Hokair
owns over 90 Family Entertainment Centres across MENA. Immotion
Group's first centre will be installed in Abu Dhabi in March 2019
at the Sparkys Family Entertainment Centre. Warehouse of Games will
use its strong local knowledge to identify additional high footfall
sites to continue its expansion.
Martin Higginson, CEO of Immotion Group, said: "The partnership
with Warehouse of Games will strengthen our position in the Middle
East and North Africa. With leisure spending in this region
predicted to grow rapidly in the next 10 years, we anticipate
significant demand for out of home VR centres in this area. With
this agreement now in place, we can scale our efforts in this
region at low cost with confidence in the supply and maintenance
chain."
CEO and Founder of Warehouse of Games, Mr. Nabil Kassim said,
"We are pleased to be the exclusive distributor of Immotion Group
exciting VR experiences in the Middle East & North Africa. This
collaboration is part of Warehouse of Games' commitment to expand
its global portfolio in the amusement industry."
**ENDS**
Enquiries:
Immotion Group Martin Higginson Tel: +44 (0) 161 235 8505
WH Ireland Limited Adrian Hadden Tel: +44 (0) 207 220 1666
(Nomad and Joint Broker) Jessica Cave
Shard Capital Partners Damon Heath Tel: +44 (0) 20 7186 9900
LLP Erik Woolgar
(Joint Broker)
Newgate Communications Elisabeth Cowell Tel: +44 (0) 20 3757 6880
(Financial PR) Robin Tozer Immotion@newgatecomms.com
Tom Carnegie
About Immotion Group:
Immotion Group, co-founded by Martin Higginson and David Marks
in 2017, generates revenues through the delivery of high quality
"state of the art" VR experiences, combined with cutting edge
motion platforms to consumers at an affordable price point through
a range of routes:
-- Sales - sale of VR Motion Platforms to Leisure and
Entertainment operators provide the opportunity for the operator to
drive substantial ancillary revenues.
-- Concession partners - currently installed at a range of
outlets including Merlin Entertainments' LEGOLAND(R) Discovery
Centres in Boston, USA and in Manchester, UK and Genting Resorts
World in Birmingham - this channel provides an opportunity for its
partners to earn ancillary revenues, as well as providing an
exciting additional attraction to their facilities.
-- Owned and franchised outlets, trading as ImmotionVR.
About Warehouse of Games:
Headquartered in Dubai, Warehouse of Games Ltd. (WOG) is one of
the top suppliers of amusement equipment, arcade games, and family
entertainment centres in the Middle East. Its operations span the
Middle East, North Africa, Pakistan, India, Iran, Iraq, and CIS
countries. From amusement parks to indoor and outdoor entertainment
centres, WOG designs and creates environments of sheer,
uninterrupted fun! From the most efficient and comprehensive
after-sales support, technical support and execution services to
the most exciting and innovative range of games, rentals, and
concept design & development of amusement parks, WOG offers you
everything you need under one roof. Warehouse of Games is the
one-stop provider for all your entertainment and gaming needs.
*https://www.wttc.org/-/media/files/reports/economic-impact-research/regions-2018/middleeast2018.pdf
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END
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