Last checked at 31 Jan 2012 07:00
31 January 2012
Lo-Q plc
("Lo-Q" or the "Company")
Contract Update
- New additional water park installation agreed with Six Flags Entertainment Corporation ("Six Flags") -
- Agreement reinforces the strength of Lo-Q's Q-band water park solution -
Lo-Q (AIM: LOQ), the AIM listed provider of virtual queuing systems for theme parks, water parks and major attractions, is pleased to announce an agreement with Six Flags to add another water park to its growing portfolio.
Lo-Q has now agreed to implement its virtual queuing system at Six Flags' Hurricane Harbor Magic Mountain. This park, located in California alongside Six Flags' Magic Mountain theme park, will become the ninth Six Flags water park to begin deploying the technology, illustrating the desirability of Lo-Q's water park offering and the strength of its continuing partnership with Six Flags, the largest customer and the world's largest regional theme park operator.
Commenting on this agreement Tom Burnet, Chief Executive Officer of Lo-Q plc said:
"We are thrilled that Six Flags has agreed to install our Q-band technology at Hurricane Harbor Magic Mountain. Q-band is one of our newest and potentially most exciting product lines. This additional park means that we are now gearing up to roll out the product into nine Six Flags water parks in the 2012 season: an excellent and encouraging start to our own water park adventure."
For further information, please contact:
Lo-Q plc +44 (0)118 934 7400
Tom Burnet, Chief Executive Officer
John Alder, Chief Financial Officer
FTI Consulting +44 (0)20 7831 3113
Matt Dixon, Clare Thomas, James Melville-Ross
Canaccord Genuity Limited +44 (0)20 7050 6500
Simon Bridges, Kit Stephenson
About Lo-Q
Lo-Q is the creator of a virtual queuing system for theme parks, water parks and other leisure attractions that allows users to queue without waiting in line. Lo-Q users reserve their place in a queue electronically and are notified when their turn is up, spending less time queuing and more time enjoying their day out.
Lo-Q's system has been adopted by leading theme park and attraction operators globally, with customers including Parques Reunidos, Six Flags, Dollywood and LEGOLAND Windsor. These operators benefit not only from happier customers but also from additional revenue streams as time previously spent queuing is instead transformed in to higher spending in park restaurants, gift shops and other retail facilities. By the end of 2010, more than six million individuals had used a Lo-Q product and that number is growing.
The Company's technology is protected by extensive patents or patents pending in Europe, USA, Hong Kong and Japan. The target market for this technology is large and growing, with Lo-Q currently exploring opportunities for expansion into new theme parks and new geographies as well as opportunities to develop new product for other complementary adjacent markets.
Lo-Q is listed on the Alternative Investment Market ("AIM") under the ticker "LOQ". For further information please visit www.lo-q.com
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