Adlabs Entertainment (Adlabs) has signed a memorandum of understanding (MoU) with Riverbay group, to develop and operate a new entertainment park in Amaravathi, Andhra Pradesh. The said park is strategically located in Andhra Pradhesh government’s new planned capital, Amaravathi.
Adlabs will provide its expertise and IP to develop the new park, while the capital will be contributed by Riverbay. Adlabs would also operate and maintain the park for which it will receive a revenue share.
The new park would be the first park in the planned capital of Andhra Pradesh and will expand Imagica’s brand presence in southern India.
Adlabs Entertainment is engaged in the business of development and operations of theme-based entertainment destinations in India, including theme parks, water parks and associated activities, including retail merchandising and food and beverages (F&B).
