Listed virtual reality (VR) group Immotion has announced the opening and signing of a number of new partner sites within its core Location Based Entertainment business.
The Greater Manchester-headquartered firm has announced its technology will now be at Akron Zoo in Ohio, Seattle Aquarium, Sea Life Manchester, expansion of its existing site at Sea Life London in a new three-year deal, and an additional aquarium site in the US.
In a statement released to the London Stock Exchange this morning, the company also said it is at an ‘advanced stage of negotiations’ with a number of zoos and is expecting to announce some ‘significant’ additional zoo signings in the next few weeks.
Martin Higginson, CEO, Immotion Group plc said: “Delivering EBITDA of circa £0.9m on revenue of £9.4m compared to revenue of £2.8m and an EBITDA loss of £1.7m in 2020 shows the progress the Company has made.
“Trading in the first quarter of this year, especially in our Location Based Entertainment business, has been very encouraging.
“The roll-out of our Gorilla Trek experience into Zoo partners is well underway, and with several sizeable theatre style installations in the wings we are confident the zoo market and other prospects will help us move closer towards the 500 headset mark.”
Rod Findley, Group Commercial Director, added: “With our aquarium offering we have carved ourselves a category in which we believe we are the market leader. Our immersive films offer our partners the ability to both educate and entertain their customers in a new and unique way, while driving significant additional revenue for them. We are excited to be rolling this model out into the global zoo market.”
