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Here's a transcript of a new interview with the CEO about the contract win:
Https://www.proactiveinvestors.com/companies/news/1044442/endeavor-goes-private-after-just-three-years-on-the-stock-market-1044442.html
Extracts:
"securing such a prestigious client not only establishes our presence in the region but also sets a foundation for expanding our operations across the area. This includes staffing and infrastructure development, allowing us to leverage this initial success to explore additional opportunities within the region"
"Our platform will handle all aspects of ticketing and admission, providing seamless access to the venues in various capacities. This includes general entry and individual attraction access. Beyond ticketing, accesso Horizon serves as a comprehensive visitor management and entitlement platform, covering areas like food and retail, enhancing the overall visitor experience by offering an integrated and seamless customer journey"
Shore Capital very positive about the new Saudi contract:
Https://www.proactiveinvestors.co.uk/companies/news/1044257/accesso-s-saudi-entertainment-deal-an-exciting-opportunity-analyst-1044257.html
"Accesso’s Saudi Entertainment deal an ‘exciting opportunity’ - analyst
Published: 14:18 28 Mar 2024 GMT
"accesso Technology Group PLC's (AIM:ACSO, OTC:LOQPF) landmark agreement with Saudi Entertainment Ventures (SEVEN) ticks all the right boxes for analysts at Shore Capital Markets.
The deal with SEVEN, a wholly owned subsidiary of the Saudi Arabia Public Investment Fund (PIF), is “a positive reiteration of the global brand awareness that the acquisition of VGS (accesso Horizon) has added to the group, as well as accesso’s ability to support its clients through complex and multipurpose projects”, the broker said.
Announced in November 2022, SEVEN unveiled plans to introduce 21 cutting-edge entertainment destinations across 14 cities, featuring over 150 attractions, diverse dining outlets, and local and international retail outlets.
accesso will be the key provider of ticketing and visitor management technology for all destinations and sub-venues associated with the project.
“This leaves accesso in a good position to leverage Saudi Arabia’s investment into being a leader in tourism, hospitality, and entertainment,” said Shore Cap.
Shore Cap also mentioned that accesso is making strides in the field of dynamic pricing’.
Dynamic pricing is a strategy where businesses set flexible prices for products or services based on current market demands, competition, and other factors.
It is “an area which accesso has previously mentioned as a potential opportunity, given its expertise in footfall management and tech-driven solutions”, said analysts.
Accesso stock is a 'buy' at 531p, reckons Shore Cap."
Yesterday's contract win probably reflects the progress made as reflected in this news from just a couple of weeks ago:
Https://www.planetattractions.com/news/%E2%80%98Innovative-solutions-for-today-and-for-the-future%E2%80%99-as-accesso-looks-forward-to-year-ahead/3181
‘Innovative solutions for today and for the future’ as accesso looks forward to year ahead
As the customer experience becomes increasingly immersive, accesso is placing its focus for 2024 on seamless experiences through use of its cutting-edge technologies
Tom Anstey | Planet Attractions | 12 Mar 2024
s one of the leading global providers of technology solutions aimed at redefining the guest experience, driving increased revenue, streamlining operations, and supporting data-driven business decisions for leisure and entertainment operators, 2024 is a big year for accesso.
This year, the company is eyeing an increase in immersive customer experience operations, with its focus on seamless experiences and cutting-edge technology.
Among its offerings, the recently launched Accesso Freedom restaurant and retail platform has been developed to “redefine the guest experience”. A cloud-native platform Freedom allows venues to seamlessly integrate restaurant and retail operations, supporting mobile food ordering, self-service kiosks, and mobile point-of-sale.
The recent acquisition of VGS adds the Accesso Horizon ticketing and visitor management system to the company’s product portfolio, providing venue operators with a comprehensive solution. Also, the latest version of the Accesso Passport ticketing suite introduces a range of enhancements, streamlining operations and options to enhance the user experience.
etc"
Looks like not long to wait for the Saudi project to start delivering - the first guests are expected early next year in Al Hamra:
Https://www.constructionweekonline.com/projects-tenders/how-saudis-seven-is-transforming-leisure-and-entertainment-in-the-kingdom
Al Hamra alone - just one of the 14 cities, 21 destinations and 150 attractions involved - "is expected to attract 6 million visitors per year":
Https://seven.sa/2022/11/30/seven-to-invest-sar-50-billion-to-develop-unique-entertainment-destinations-across-14-cities-in-saudi-arabia/
Today's announcement may have had to be issued as an RNSNON as there isn't a measurable immediate financial impact, but it's still big news.
Saudi Arabia is building "21 cutting-edge entertainment destinations across 14 cities, featuring over 150 attractions, diverse dining outlets, local and international retail outlets".
And ACSO has been appointed as "the key provider of ticketing and visitor management technology for all destinations and sub-venues associated with the project".
Quite a coup. And presumably pretty materially financially rewarding. The only question is how long until fruition:
Https://www.londonstockexchange.com/news-article/ACSO/accesso-to-power-saudi-entertainment-destinations/16397455