Immotion agrees another 68 VR headset installations

Virtual reality (VR) experience operator Immotion Group announced on Thursday that, in the past week, it had signed contracts for 68 headsets at 11 sites, including its first outdoor enclosure of eight headsets at Roger Williams Zoo in Rhode Island, the United States.

The AIM-traded firm said the additional 68 contracted headsets, as well as others already contracted but yet to be installed, including at Mandalay Bay, would take the total number of headsets in operation to 432.

Of those, 314 would be in partner locations, with 118 now operated in the company's own ‘ImmotionVR’-branded sites.

It expected that the bulk of the new installations, including Mandalay Bay, would occur through the first quarter of 2020, with all of them able to be fulfilled from current stock.

Of the new locations, five of them were at Merlin Entertainments’ ‘Sea Life’-branded aquariums, with four to be installed at each of Sea Life Minnesota, Sea Life Great Yarmouth, Sea Life Dallas, Sea Life Timmendorfer Strand, and Sea Life Orlando.

Three other aquariums were also contracted for four headsets each, namely Seattle Aquarium, Zoo Marine in the Algarve, and Adventure Aquarium in New Jersey.

Among the other installations, eight headsets were contracted for Roger Williams Zoo in Rhode Island, four at the Legoland Discovery Center in San Antonio, and 24 headsets would be installed at the Arizona Broadwalk.

“We are pleased to have signed a further nine partnership agreements, and for two existing partners to be taking more headsets,” said chief executive officer Martin Higginson.

“We now have full visibility on an installed base of 432 headsets."

Higginson said the company remained “confident” in its business model, and that it would achieve its breakeven target around the end of the first quarter.

“Partner demand continues, and with a combination of new experiences, outdoor enclosures, and larger theatre solutions now available, we are well-positioned for growth.”

At 1544 GMT, shares in Immotion Group were up 9.31% at 7.32p.