Immotion Group reports a strong recovery of revenues

Immotion Group plc (LON:IMMO), the UK-based immersive entertainment group, has confirmed that with effect from 1 June 2021 all Covid related capacity restrictions have been lifted in Las Vegas, home to our largest location-based installation at Shark Reef Aquarium, part of the Mandalay Bay Resort and Casino.

The Company is further pleased to announce that, following the relaxation of restrictions in the majority of its US and UK locations, we have continued to see revenues recover strongly at our Location-based Entertainment (LBE) locations.

Having reported an almost two-fold increase in revenue at our LBE locations for the month of March 2021 (compared to February 2021) we are pleased to report continued strong growth.  April 2021’s un-audited revenue in the partner business was £402k – setting a new monthly record and representing a circa 35% increase on March 2021.

Growth has continued in May, bolstered by the reopening of our UK sites on 17 May 2021, which have seen a very encouraging first two weeks of trading.

We remain confident that, as long as there are no material reversals with regard to the pandemic, the Group should be well set for a strong and profitable summer season in its key US and UK markets.

A further update on trading will be made at our Annual General Meeting on 30 June 2021.

Martin Higginson, Immotion Group CEO said: “After an extremely tough period we are very pleased to report a strong recovery of revenues. April was a record month for our LBE business and May is looking even stronger.  The continued lifting of restrictions, combined with what we believe will be a bumper Summer of staycations, bodes extremely well.”

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