Virtual reality group signs up US client to boost headset spread

Immotion Group, the Salford-based immersive virtual reality ‘Out of Home’ entertainment group, has extended its international reach with more deals for its headsets.

In a trading update today it said, in recent weeks, it signed contracts for a further 28 headsets, including its first partnership with Landry’s, a leading USA leisure group, at their Downtown Aquarium site in Denver, USA.

It said recent weekly trading patterns are in line with expectations, and at this stage, it has not seen any overall impact which it could attribute to the Covid19 virus.

The company’s portfolio of partners is geographically well spread with partners from Sydney to Seattle, Blackpool to Boston, and Dubai to Denver. However, it said it continues to monitor each partner site and its performance carefully.

In regards to stock and the supply of motion platforms and headsets, Immotion has secured sufficient VR headsets and motion platform seats to deploy all current and forthcoming installations.

The manufacturing plant in China is now back at work and is currently manufacturing the next order.

Immotion’s programme of installs continues as planned, with Mandalay Bay on track and due to open at the end of this month, March 2020.

The group said it expects the total number of installed, and operational headsets at the end of March 2020 to be around 400, with further installs to take place in early April, which, with the additional 28 headsets, will take the total number of headsets in operation to 465.

The company said it is very much aware of the potential threats of the Covid19 virus and it continues to monitor all sites daily and will respond accordingly.

Immotion raised additional cash through a placing in January 2020 and has sufficient stock to fulfil all current demands and is, it believes, well placed to weather this current storm.

Chief executive Martin Higginson said: “These are clearly challenging times, and whilst we believe we are well placed to deal with this crisis we are currently taking each day at a time.

“Shark Reef Aquarium at Mandalay Bay is on track to open at the end of this month, and we remain excited and optimistic at this, our largest installation to date.

“All other installs are on track and we expect circa 400 headsets to be installed and operational by the end of this month, March 2020.”

He added: “With a geographically diverse portfolio we are as well positioned as one can be in the face of the current challenges.

“We continue to monitor revenue and performance daily, working closely with our partners to reassure, educate and entertain customers.”