Paris, March 22, 2021 – Atari®, a world-wide known producer in the industry of consumer brands and interactive entertainment products, announced today that it has extended its partnership with ICICB Group for the development of Atari branded hotels. ICICB Group is a multinational holding group, with diversified portfolio, which has presence in the majority of prime markets around the world. The extended agreement includes new countries in Europe in Africa. It also includes countries in Asia, such as Australia, New Zealand, Hong Kong and Singapore. This agreement with ICICB Group is in addition to the licensing agreement with ICICB Group announced in March 2021 and to the licensing agreement of January 2020 entered into with GSD Group and covering eight cities in the USA.
Under the provisions of the extended agreement with ICICB Group, Atari is entitled to 5% of the revenues generated from the hotels. In addition, Atari is entitled to receiving an amount of US$3.0 million, in the form of a non-refundable advance payment and consulting fees. This is in addition to the US$0.5 million to be received under the initial agreement with ICICB.
These Atari Hotels will also accept the Atari Token (ATRI) for use inside the premises, including loyalty programs and exclusive VIP experiences. The details will be revealed as the pre-marketing opens for each location.
ICICB Group specializes in bringing forth innovative solutions and projects, while targeting the transformation of the digital world. The Group, by utilizing practical content and state-of-the-art technology, is active in many sectors that include, among others, digital banking, crypto trading and finance, commercial real estate, security, and luxury items. ICICB Group is dedicated to offer innovative products and services that leverage Artificial Intelligence, by concluding partnerships with some of the world’s most known companies.
Atari hotels will be designed in accordance with the latest trends in hospitality industry. With sophisticated style and modern twists, the common areas will immerse visitors into the video game universe and the Atari brand. The hotels will feature Atari gaming playgrounds, several function rooms, co-working areas, fine restaurants and bars, a bakery, a movie theater, as well as a gym. The design of Atari hotels targets both, those who travel for business and those who seek please and entertainment, by offering an all-in-one luxurious and entertaining experience.
Atari reserves the rights for the development of similar hotels in other countries.
Upon the conclusion of the licensing agreement between Atari and ICICB Group, there are certain aspects that remain inherently uncertain. These include, among others, the realization of plans, the operational budget, as well as the plan relating to finances. The non-realization of these assumptions may have an impact on their overall value.
Atari, an affiliated company of Atari SA and its subsidiaries, constitutes a worldwide entity focusing in offering interactive entertainment and multiplatform licensing products. Atari was founded in 1972 and since then, the company forms a leading innovation-driven brand in the world of video games. The company’s portfolio includes the ownership and management of more than 200 games and franchises. Some of the most known titles are Asteroids®, Centipede®, Missile Command® and Pong®. Atari makes also available attractive online games for smartphones, tables, and other compatible devices with its state-of-the-art portfolio and projects. The company is responsible for the development and distribution of interactive entertainment gaming consoles by maintaining partnerships with some of the world’s most reputable companies, such as Microsoft, Sony, and Nintendo. Atari utilizes its brand and franchises by offering licensing agreements in other industries, such as media, derivative products, and publishing. For more information, visit www.atari.com and www.atari-investisseurs.fr/en/. Atari shares are listed in France on Euronext Paris (Compartment C, ISIN Code FR0010478248, Ticker ATA), in Sweden on Nasdaq First North Growth Market as Swedish Depositary Receipts (ISIN Code SE0012481232, Ticker ATA SDB) and are eligible for the Nasdaq International program in the United States (OTC – Ticker PONGF).
©2021 Atari Interactive, Inc. Atari and the Atari logo are registered trademarks owned by Atari Interactive, Inc. All individual Atari game names and logos are trademarks or registered trademarks of Atari Interactive, Inc. or its affiliates.
ICICB is a holding company, with a diversified portfolio, that was founded in an effort to exceed the standard notion of traditional leadership. In doing so, ICICB Group seeks to apply the key concepts of leadership in an evolving process of digital transformation. An important aspect contributing to such transformation is that ICICB stresses the importance of transforming the process and provides the necessary means for its continuance or completion. ICICB Group holds a crucial role in inspiring, motivating, planning, and directing the further advancement of its constituent businesses, corporate entities, and leading professionals in respective areas.
The Group maintains partnerships aiming the digital business transformation. By covering a wide range of potentials, ranging from strategy drafting and planning to supervision of technical aspects, ICICB Group holds a long tradition in creating innovative businesses and submitting proposals that showcase an extensive amount of professionalism willingness, and ability to widen new horizons. Investment-wise, ICICB Group maintains a long-term outlook and strategically targets organic growth through acquisitions in fields in which the management demonstrates notable expertise and experience. The Group’s strategy allows for the utilization of optimal flexibility in terms of financing and investment decision processes.