IMMO.L Share News (IMMO)

(Sharecast News) - Virtual reality (VR) attraction company Immotion Group has appointed Dubai-based Warehouse of Games as its exclusive distribution partner for the Middle East and North Africa (MENA) territories, it announced on Thursday.The AIM-traded firm said Warehouse of Games would sell, distribute and maintain the Immotion Group range of cinematic VR platforms to its "extensive" MENA client base.It said the agreement was in line with its strategy to become a "leading participant" in the out-of-home VR experience market.The appointment of a distribution partner provided a low-cost route to establish the Immotion Group brand across the "rapidly growing" region, the board said, adding that the tourism industry in the MENA region was expected to reach more than $365bn by 2027, primarily driven by the leisure and religious tourism sectors.Leisure travel spending was expected to grow by 4.3% per annum to $202.6bn in 2028, it said.As part of the agreement, Warehouse of Games would deal with the on-the-ground delivery, installation and repairs of Immotion Group's out-of-home VR experiences, in order to fulfil the recent contract Immotion had secured with Al Hokair.Al Hokair owns more than 90 'family entertainment centres' across the MENA region.Immotion said its first centre would be installed in Abu Dhabi in March at the Sparky's Family Entertainment Centre.Warehouse of Games would use its "strong" local knowledge to identify additional high footfall sites to continue the expansion."The partnership with Warehouse of Games will strengthen our position in the Middle East and North Africa," said Immotion chief executive officer Martin Higginson."With leisure spending in this region predicted to grow rapidly in the next 10 years, we anticipate significant demand for out of home VR centres in this area."With this agreement now in place, we can scale our efforts in this region at low cost with confidence in the supply and maintenance chain."Warehouse of Games founder and chief executive officer Nabil Kassim added that his company was "pleased" to be the exclusive distributor of Immotion Group's "exciting" experiences in the territory."This collaboration is part of Warehouse of Games' commitment to expand its global portfolio in the amusement industry."