6th Oct 2014 07:22
LONDON (Alliance News) - Galasys PLC Monday said it has secured new contract wins worth a total of around GBP217,000, with theme parks Enchanted Kingdom in the Philippines and Window of the World in China.
Galasys provides ticketing systems and services for the fast-growing theme park industry in Asia, particularly China.
The company said its contract with Enchanted Kingdom is its first in the Philippines. It said it will supply ticketing and point-of-sale systems to Enchanted Kingdom, with the total value of the project USD180,000 or around GBP111,000, and from the second year onwards, a maintenance contract worth USD40,000, equivalent to around GBP24,666.
Enchanted Kingdom, opened in October 2005, has 16 rides and boasts seven themed zones. According to its management, there are plans to double the current park size over the next three to five years, which include the construction of hotels, to transform Enchanted Kingdom into an integrated theme park.
Galasys said it has signed two contracts with Window of the World in Shenzan, China, one for its ticketing system and the other for its online ticketing module. It said each contract has a tenure of five years, and has a combined value of CNY827,450, roughly equivalent to GBP82,349.
The Window of the World is a large-scale cultural tourist attraction site, covering an area of 480,000 square metres. It was jointly established in 1994 by the Hong Kong China Traveling Service Group and the OCT group, with an investment of CNY6.5 billion.
OCT Group, one of Galasys' long-standing customers at the Chengdu Happy Valley theme-park in China.
"We expect further momentum as Galasys continues to expand its market coverage into other South East Asia countries. These two contract wins give the board confidence in Galasys' plans for growth and in our ability to make further market-share gains in the amusement park ticketing space," said Chief Executive Sean Seah in a statement.
Galasys shares were untraded at the market open Monday at 23.50 pence.
By Rowena Harris-Doughty; [email protected]; @rharrisdoughty
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