IMMO.L Share News (IMMO)

(Sharecast News) - Virtual reality (VR)-focussed out-of-home entertainment company Immotion Group announced the installation of a 12-station VR entertainment zone at The O2 in Greenwich, London on Thursday.The AIM-traded firm said the agreement with Waterfront Limited Partnership - the joint venture between owner of The O2, AEG Europe, and Crosstree Retail Partners - would see the first installation of its new themed VR Arena, which it described as a four-person free-roaming shooting experience, featuring the global number one interactive VR game 'Raw Data'.In addition to the arena, the company said it would install two VR cinema pods, the first featuring a series of VR roller coasters, and the second being the new 'Undersea Explorer' stand, which it said was a four-person motion cinema where users could experience swimming with turtles, humpback whales and tiger sharks in virtual reality.The installation, which would be located beside the new Street Food Quarter at The O2, would run for an initial six-month period, allowing the company to test both the summer and Christmas holiday periods with profits generated being shared between Immotion and Waterfront."I am thrilled to be bringing our VR experiences into such an iconic location as The O2," said Immotion Group chief executive officer Martin Higginson."We are confident this initial trial through to early 2020 will prove successful and we look forward to working with Waterfront on a long-term basis."Higginson said the company's focus on quality high-footfall edutainment and leisure locations was exemplified by The O2."Adding a range of VR experiences to this landmark destination will, we hope, make the visitor journey even more enjoyable."We continue to provide our partners with new exciting attractions that complement their offerings and generate valuable ancillary revenue for them, whilst building recurring revenues for Immotion."We believe this is a highly scalable model with global potential."