Paragon Entertainment Limited Opening of Dig It! in Dubai

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."

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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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July 03, 2018 04:16 ET (08:16 GMT)