Immotion Group set to break even in first quarter after London Eye deal

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Manchester-based Immotion Group has confirmed the installation of 93 of its virtual reality headsets after signing contracts with a number of attractions and venues.

The firm, which specialises in out of home VR experiences, has signed contacts in the past week with the London Eye, four aquariums and a European zoo and has agreed terms with a further nine aquariums and five entertainment sites.

The installation at the London Eye will feature a six seater mini-theatre using Immotion’s VR roller coaster experience, Tower Coaster – London. The firm said it expects to reach EBITDA break-even at or around the end of the first quarter, with more partners anticipated to sign with the company through early 2020.

"We are thrilled with the ongoing response to our offering," Commercial Director Rod Findley said. "The Partner team have been working hard throughout the last quarter of 2019 to secure these new sites.

“With 19 new partners agreeing to a further 93 headsets this bodes well as we drive towards monthly profitability."

Findley added that the company was in “advanced talks with a number of larger locations.”