VirTra Systems to Sell Simulators to Racing Visions
ARLINGTON, Texas, May 28 VirTra Systems, Inc. today announced that it has contracted to be the exclusive supplier of racing simulator amusement game systems to Racing Visions Corporation of Scottsdale, Arizona.
Under the contract, VirTra Systems will design and manufacture driving simulation systems for Racing Visions, and Racing Visions has agreed to purchase its driving simulators solely from VirTra Systems. Racing Visions' current expectations are to purchase 8,900 units over the next three years, at an estimated cost of $26.7 million.
Racing Visions Corporation intends to offer hundreds of millions of racing fans and gaming enthusiasts worldwide new dimensions in racing-oriented entertainment. Conceived and created with state-of-the-art, patent-pending technologies, Racing Visions products and theme parks intend to introduce the very latest in visual and telecommunication technologies to deliver the most intense and realistic sensory racing experience attainable to date. Operating real, 1/6-scale and 1/4-scale vehicles via remote telecommunications will create the platform for a whole new kind of racing and pure fun.
"This is an important announcement for our shareholders and the investment community," stated L. Kelly Jones, VirTra Systems' chief executive officer. "It is indicative that our major long-term projects are achieving fruition, and further reflects that we have not abandoned our industry-leading position in the entertainment/amusement market as we continue our pursuit of unparalleled opportunities in the training/simulation market."
"We are pleased to announce this contract with VirTra Systems," stated Jim McCabe, president of Racing Visions. "VirTra Systems' experience in this arena, its successful projects for Fortune 500 companies, and its relationship with major theme parks made our decision an easy one. Also, VirTra Systems' 18,000 sq. ft. development/production center ensures that our substantial projected growth needs can be met."
"We are excited about this contract with Racing Visions," stated Bob Ferris, VirTra Systems' president. "This is a significant opportunity for our company, and we look forward to expanding our dominance in the virtual reality amusement segment by providing an exceptional product which will exceed the expectations of Racing Visions and its users."
About Racing Visions
Racing Visions is a Scottsdale, Arizona manufacturer of radio-controlled 1/4 scale model cars with a realistic, radio-controlled interface (i.e. steering wheels, foot pedals, etc.), and in-car wireless video accessories.
About VirTra Systems
VirTra Systems, www.virtrasystems.com , is the world's largest and fastest-growing producer of integrated hardware and software technology to the virtual reality industry, and a first-to-market, emerging leader in the manufacture of interactive on-line computer gaming kiosks and kiosk control software. The Company utilizes patented technology to produce virtual reality experiences for the entertainment/amusement, promotional/advertising, and training/simulation markets. The Company's virtual reality products include a completely immersive, 360-degree environment, incorporating the sensations of motion, touch, sound, and smell for Fortune 500 companies such as Buick, Pepsi, and Chevrolet. Innovative virtual reality experiences have also been created for such companies as Red Baron Pizza, Six Flags, Busch Gardens, and Carnival Cruise Lines.