Entertainment company Vividthree Holdings OMK has announced its signing of a memorandum of understanding (MOU) with Guangdong Sky City Culture and Entertainment, a Chinese arcade and entertainment brand headquartered in Guangdong China, to develop gaming arcade centres in Southeast Asian markets.
The MOU outlines a strategic partnership for both companies to establish arcade businesses in the region, starting with Singapore. Sky City has over 13 years of experience developing, operating and promoting family entertainment concepts while Vividthree will leverage its expertise in digital media creation and production to enhance arcade gaming offerings, especially in the areas of virtual reality (VR) and augmented reality (AR) games, as well as globally recognised intellectual property (IP) management.
Sky City’s managing director Li Haoguang says: “We are delighted to announce our partnership with the Vividthree Group to develop a new brand of gaming arcades across key Southeast Asian markets. There are great opportunities for us to leverage the resources and connections in media and retail, of Vividthree and its parent company, mm2 Asia 1B0 , to grow the leisure and entertainment businesses in these markets.”
Vividthree’s co-founder and chief creative officer Charles Yeo adds: “Sky City is a pre-eminent brand for family leisure entertainment in China. They own and operate more than 100 outlets in China’s biggest metropolitan cities. This strategic partnership marks an important milestone for our organisation as we continue expanding our leisure and entertainment portfolio across the region.”
Shares in Vividthree closed flat at 2.8 cents on Nov 23.
