Immotion Group PLC Site opening and update (2562T)
24 Marzo 2021 - 1:00AM
UK Regulatory
TIDMIMMO
RNS Number : 2562T
Immotion Group PLC
24 March 2021
24 March 2021
Immotion Group plc
("Immotion", the "Company" or the "Group")
Site opening and update
Immotion Group, the UK-based immersive entertainment group, is
pleased to announce that its 22-seat 'Undersea Explorer' theatre
opened last weekend, 21 March, at Clearwater Marine Aquarium in
Florida. Footfall at the aquarium was strong and the early uptake
of our installation was very encouraging.
In the USA, the majority of the Company's Location-Based
Entertainment ("LBE") partner sites are now open and trading as
Covid related restrictions are beginning to ease. We are seeing an
improving picture in the USA as we enter spring break and expect to
see this continue into the Easter period.
In addition, we are very pleased to confirm that from 15 March
2021, capacity restrictions in Nevada, where our largest
installation at Shark Reef Aquarium, Las Vegas, is based have now
been relaxed. Permitted capacity is now back at 50%, the level
which applied when we opened the site in August 2020. We are
hopeful that this will improve further towards the summer months if
restrictions are lifted further.
Our "Tower Coaster" installation opened at Sydney Tower Eye on 5
March 2021, giving us three sites in Australia, all of which are
fully open.
We expect to have the large majority of our LBE sites in USA and
UK trading in the summer (with UK sites expected to re-open on 17
May 2021). We also expect a small number of new sites to open ahead
of the UK/USA summer.
Our Home-Based Entertainment product, 'Let's Explore Oceans',
was soft launched into the USA during the first week of March 2021,
with initial orders being fulfilled from the UK. We are pleased to
report that early sales have been encouraging. We will be
increasing our USA-focused marketing activity and will, from early
April 2021, be fulfilling USA demand from our fulfilment partner in
Wisconsin, USA.
Uvisan continues to make steady progress with the new 'Cleanroom
by Uvisan' product currently undergoing third-party lab
certification.
A detailed update on current trading and prospects, which will
cover the US spring break and Easter periods, along with our full
year results for 2020, will be issued on 29 April 2021.
Martin Higginson, Immotion Group CEO said: "With new sites
opening to encouraging footfall, the USA and UK on a pathway back
to normality, and Australia fully open we are beginning to see the
green shoots of recovery."
"Early sales of the 'Let's Explore Oceans' product in the USA
have got off to a good start, and we now have the stock and
logistics in place to accelerate the growth potential in this key
market."
"The combination of a recovered Location Based Entertainment
business with solid summer-time revenues, along with the Home Based
offering, which we believe will see peak sales in Q4, has the
makings of a well-balanced business."
"We look forward to updating the market further on our plans,
along with a detailed trading update on 29(th) April 2021."
For further information please visit www.immotion.co.uk , or
contact:
Immotion Group Martin Higginson Tel + 44 (0) 207
David Marks 220 1666
WH Ireland Limited Adrian Hadden Tel + 44 (0) 207
(Nomad and Joint Darshan Patel 220 1666
Broker) Matthew Chan
Alvarium Capital Alex Davies Tel: +44 (0) 207
Partners 195 1458
(Joint Broker)
Shard Capital Partners Damon Heath Tel: +44 (0) 20 7186
LLP Erik Woolgar 9900
(Co-Broker)
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END
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