Paragon Entertainment Limited Opening of Dig It! in Dubai
03 July 2018 - 6:16PM
RNS Non-Regulatory
TIDMPEL
Paragon Entertainment Limited
03 July 2018
Date: 03 July 2018
On behalf of: Paragon Entertainment Limited ("Paragon", the
"Company" or the "Group")
Paragon Entertainment Limited
Announcing the opening of Dig It! In Dubai and our first Product
attraction.
Paragon Entertainment Limited (AIM: PEL), the attractions
design, production and fit-out business, announces that its first
bespoke designed and developed in-house Product has opened.
We are delighted to announce that on the 2(nd) July Dig It!
Dubai Springs opened its doors to the public. Developed for Emaar
Entertainments, we have been working to deliver this unique project
over the past 4 months.
The significance to Paragon is substantial due to the fact that
we own the IP meaning we are not competing in a tender environment.
There is real potential for multiple locations allowing for
economies of scale in build. We are selling from a standardised
product catalogue where developers can choose their own elements,
which make their experience truly bespoke, and at the same time
deliver to retail turn around times. Paragon maximizes its
operational efficiency by building elements to stock and
outsourcing some elements if needed.
For Mall operators Dig It! is an immersive and interactive play
experience plus an integrated café and retail offer for families
with children aged 2 to 10 to meet the growing need for experience
rather than goods and to draw the right audience.
For operators Dig it! is a repeatable, popular fun learning
experience, safe, cost effective and easy to operate facility which
can be upgraded and changed over time by Paragons development
teams.
At 7000 sqft Dig It! Dubai Springs features all our unique
designs, experiences and programming including our interactive play
digger, building site with hoists, pulleys and conveyors, bespoke
RC dumper trucks, projection building site and makers area whch
features many STEM learning activities for programmed interactive
sessions.
Paragon own the Dig it! IP and we have granted exclusivity to
Emaar across the MENA region and we hope to be working with them
over the coming months to understand, refine and better the model
as it develops.
Commenting on the announcement, Mark Pyrah, Development Director
and Founder of Paragon Entertainment said:
"This is an exciting time for Paragon as our first Product hits
the leisure/retail market. We have invested significantly in this
area of the business over the past 2 years, and it's testement that
a company of Emaars stature have backed our first Dig It! project.
This is our first branded product which has proved our ability to
fast track pre-developed projects to developers and operators in
record time. Dig it! Dubai has been developed, built, shipped and
installed in under 4 months.
The year ahead is positive for Dig it! as it forms an exciting
part of our strategy for Products across the retail and leisure
world. We are seeing strong demand for experiential attractions to
increase dwell time and spend per head and our strategic goal is to
create products that can answer this need. Other Dig it! locations
are in progress and manufacture which we look forward to announcing
in due course."
- ENDS -
For further information:
Paragon Entertainment Limited
Mark Taylor (Chairman)
01904 608020
finnCap Ltd
Julian Blunt / Simon Hicks (corporate finance)
Alice Lane (corporate broking) 020 7220 0500
Notes to Editors:
Paragon Entertainment Limited (AIM:PEL) is an award winning
provider of attraction services from initial design production and
consulting through to the fit out and installation of themed
attractions, heritage exhibits, museums, aquariums and water parks,
inter alia.
Paragon Entertainment is the holding company for Paragon
Creative Limited.
The Group's projects have included:
-- The design and build of Kidzania, London;
-- The design and build of galleries at the Olympic Museum for
the IOC in Lausanne, Switzerland;
-- The design and build of the galleries at The National Museum of Kazakhstan;
-- The design and build of Titanic Belfast;
-- The Dig It! brand;
-- Little Explorers for MAF in the MENA region;
-- The design and build of Titanic Belfast;
The Group listed on AIM in 2011.
Further information can be found at:
http://www.paragonent.com/
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END
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