Atari Expands Hotel Partnership with ICICB Group Across Europe, Africa, and Asia
Atari, the globally recognized name in consumer brands and interactive entertainment, has announced a significant expansion of its collaboration with ICICB Group, which aims to develop Atari-themed hotels. ICICB Group operates as a multinational holding company with a diverse portfolio, boasting a presence in many key markets around the globe. This newly extended partnership will see the inclusion of additional countries in Europe and Africa, as well as locations in Asia, including Australia, New Zealand, Hong Kong, and Singapore. This agreement builds upon an earlier licensing deal announced in March 2021, along with a prior agreement from January 2020 involving GSD Group that encompasses eight cities in the United States.
Under the terms of the updated agreement with ICICB Group, Atari will receive 5% of the revenue generated from these hotels. Furthermore, Atari will obtain a non-refundable advance payment of $3 million, which will also cover consulting fees. This amount is in addition to an earlier $500,000 payment stipulated in the initial agreement with ICICB. Notably, these Atari Hotels will incorporate the use of Atari Token (ATRI) for services offered on the premises, such as loyalty programs and exclusive VIP experiences, with specific details to be disclosed as pre-marketing for each site commences.
ICICB Group is dedicated to propelling innovative projects that aim to transform the digital landscape. Their operations cover various sectors, including digital banking, cryptocurrency trading, commercial real estate, and luxury goods, leveraging advanced technology and practical content. The Group is particularly focused on delivering cutting-edge products and services that utilize Artificial Intelligence through partnerships with renowned global companies.
The design of Atari Hotels aims to align with contemporary hospitality trends, offering a sophisticated ambiance infused with modern elements. Visitors can expect to be immersed in a gaming universe reflective of the Atari brand, featuring gaming playgrounds, function rooms, co-working spaces, upscale dining options, a bakery, a cinema, and a gym. The hotel’s design will cater to both business travelers and leisure seekers, providing a comprehensive luxurious and entertaining experience. Atari retains the rights to develop similar hotel concepts in other international locations.
Disclaimer on Licensing Agreement Risks
With the signing of the licensing agreement between Atari and ICICB Group, there are several inherent uncertainties regarding the execution of plans, operational budgets, and financial strategies. The failure to meet these expectations could significantly affect the overall value of the venture.
About Atari
Atari, associated with Atari SA and its subsidiaries, is a prominent global entity specializing in interactive entertainment and multiplatform licensing. Established in 1972, Atari has become a leader in innovation within the video game sector, managing a portfolio that includes over 200 games and franchises. Its most recognized titles comprise Asteroids®, Centipede®, Missile Command®, and Pong®. Atari also offers engaging online games for smartphones and tablets, maintaining partnerships with major companies like Microsoft, Sony, and Nintendo. The brand leverages its franchises through licensing agreements across various industries, including media and publishing.
About ICICB
ICICB is a diversified holding company founded with the goal of redefining traditional leadership concepts. The Group emphasizes the importance of evolving processes in digital transformation and plays a vital role in inspiring and directing the progress of its businesses and professionals. ICICB Group pursues partnerships aimed at digital business transformation, showcasing a commitment to innovation and professionalism. With a long-term investment strategy, the Group focuses on organic growth through acquisitions in areas where management possesses significant expertise. This strategic approach allows for flexible financing and investment decision-making processes.
Contact Information
Atari – Philippe Mularski, CFO
Calyptus – Marie Calleux
Tel: +33 1 83 64 61 57 – pm@atari-sa.com
Tel: +33 1 53 65 68 68 – atari@calyptus.net
Redeye AB (Certified Adviser) – Catharina Prämhall
Tel: +46 8 121 576 90 – certifiedadviser@redeye.se
This announcement complies with the EU Market Abuse Regulation and was submitted for publication via the designated contact individuals.
