Laser Storm Signs Exclusive Licensing Agreement With Marvel Entertainment Group Inc.; Laser Storm to Develop Marvel Comics X-Men Themed Laser Tag Game
DENVER - Laser Storm, Inc. (NASDAQ: LAZR, LAZRW) of Denver, CO, announced today that it has signed an exclusive licensing agreement with Marvel Entertainment Group, Inc. (NYSE: MRV).
The contract allows Laser Storm to develop a themed laser tag game based on Marvel's X-Men, the popular comic book and animated TV series.
X-Men comic books sell over 30 million copies annually, making it the most successful comic book of all time. The comic books are published in over 75 countries and territories in 22 languages throughout the world. In addition, the X-Men TV show has been successfully running for seven seasons and is a top-rated Saturday morning program on the Fox Kid's Network. There are over 150 licensed manufacturers currently producing over a thousand X-Men products. Laser Storm's contract with Marvel provides a wide range of merchandising opportunities with these Marvel licensees.
Bob Cooney, Chief Executive Officer of Laser Storm, stated, "The X-Men licensing agreement gives us the ability to expand our creative theming capabilities which we believe will help accelerate growth and further differentiate us from our competitors. Laser Storm intends to fully integrate the X-Men theme into an all-encompassing laser tag fantasy experience. We also believe that the agreement will create a wide variety of cross-promotional opportunities for Laser Storm. In addition, we are planning a whole array of new special effects and intricate designs to go along with the X-Men laser tag games."
The exclusive multi-year licensing agreement with Marvel gives Laser Storm the right to incorporate over forty characters into the X-Men laser tag game. Laser Storm will operate X-Men laser tag in its company-owned locations and will sell X-Men themed games to independent operators.
Cooney continued, "X-Men is incredibly popular, and we believe that this will attract new customers. Laser Storm games encourage creative interaction, and the X-Men theme will help to further enhance this aspect of Laser Storm's family entertainment philosophy."
Laser Storm is an operator of themed laser tag arenas, and is a leading manufacturer, designer, developer, and distributor of innovative themed laser tag games and systems for the rapidly-growing location-based entertainment industry. Laser Storm has sold over 175 Laser Storm systems worldwide. With money raised during its April IPO, the company has embarked on an aggressive strategy to diversify its revenue stream by adding to its company-operated facilities through new-location development, including sites developed as a result of strategic alliances with major location-based entertainment companies. Laser Storm is expanding its intellectual property by forging strategic alliances giving the company the ability to develop games based on popular science fiction and adventure themes.
Safe Harbor Statement:
Except for historical information contained herein, the matters set forth in this release are forward-looking statements that are dependent on certain risks and uncertainties including such factors among others as, market acceptance, market demand, pricing, changing regulatory environment, changing economic conditions, risks in new product and service development, the effect of the company's accounting policies and other risk factors detailed in the Company's SEC filings, especially the Prospectus dated, April 23, 1996.
Note to Editors: Marvel Comics, X-Men: & 1996 Marvel Characters, Inc. All rights reserved.