Atari Grants Licensing Rights to Build Atari Hotels in the United States
Paris, January 24, 2020 – Atari®, one of the world’s most iconic consumer brands and interactive entertainment producers, today announced that they have concluded a licensing agreement with True North Studio, a US real estate developer, and GSD Group, for the development of Atari branded hotels in 8 cities in the United States. According to the agreement, Atari will be entitled to 5% of the revenue of these hotels and has received a non-refundable advance of 0.6 million US$ at signing.
True North Studio is a truly innovative specialist in commercial real estate development, active in Arizona. The Group is deploying its “TNS lifestyle” concept, allying design and food & beverage offers with the latest trends in hospitality, by offering dynamic and immersive experiences.
The Atari hotels will feature common areas following the latest trends in hospitality, with a focus on the video game universe and the Atari brand. They will include a state of the art eSport studio, an Atari gaming playground, meeting and event rooms, co-working spaces, restaurants, bars, a bakery, a movie theatre and a gym. They are targeted at family or business travelers, providing a luxurious, relaxed and one-of-a-kind experience.
The first hotel is planned to break ground in 2020 in Phoenix, close to the first “Woz U” university campus, created in 2017 in Phoenix, AZ by Steve Wozniak, the co-founder of Apple. The other cities are Austin, TX, Chicago, IL, Denver, CO, Las Vegas, NV, San Francisco, CA, San Jose, CA, and Seattle, WA. Atari retains the rights to develop similar activities in other cities in the United States and the rest of the world.
The realization of the plans, and their operational budget and financing plan remain inherently uncertain, and the non-realization of these assumptions may impact their value.
Atari, comprised of Atari SA and its subsidiaries, is a global interactive entertainment and multiplatform licensing group. The true innovator of the video game, founded in 1972, Atari owns and/or manages a portfolio of more than 200 games and franchises, including globally known brands such as Asteroids®, Centipede®, Missile Command® and Pong®. From this important portfolio of intellectual properties, Atari delivers attractive online games for smartphones, tablets, and other connected devices. Atari also develops and distributes interactive entertainment for Microsoft, Sony and Nintendo game consoles. Atari also leverages its brand and franchises with licensing agreements through other media, derivative products and publishing. For more information: 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).
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This is information that Atari SA. is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, on January 24th, 2020 at 08:00am CET.