Virtual reality attractions equipment developer Immotion is raising £2.85m at 7.25p a share to finance roll outs of VR equipment including a 36-seat VR theatre at Mandalay Bay.
The VR theatre will be at the Shark Reef Aquarium in Las Vegas. Immotion will receive $2.50 per ticket sold for entry to the aquarium. There are 500,000 visitors each year. The initial contract lasts 18 months.
Existing aquarium sites generate £476 per headset each week. A new range will be launched for zoos and museums.
The 2019 loss is expected to be £4.2m. WH Ireland has trimmed its revenues forecasts for 2020 and 2021 but margins have been increased. Immotion should still make a small profit in 2020 on this basis. The 2021 pre-tax profit forecast is £4.9m.
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