Atari® Partners with ICICB Group and Grants Licensing Rights to Build Atari Hotels in Dubai, Gibraltar, and Spain
Paris, March 10, 2021 – Atari®, a world-wide known producer in the industry of consumer brands and interactive entertainment products, announced today that it has entered into a license agreement with ICICB Group for the development of Atari branded hotels. According to the agreement, the first hotels will be constructed at selected locations outside the US, with Dubai, Gibraltar and Spain being the first countries to host the Atari hotels. The licensing agreement was concluded with ICICB Group, a multinational holding group, with diversified portfolio, which has presence in the majority of prime markets around the world. This agreement with ICICB Group is in addition to the licensing agreement of January 2020 already entered into with GSD Group and covering eight cities in the USA.
Under the provisions of the agreement, Atari is entitled to 5% of the revenues generated from the hotels. In addition, Atari is entitled to receiving an amount of US$0.5 million, in the form of a non-refundable advance payment and consulting fees.
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,…