This is Mocap Games, a "brand new immersive entertainment system" that's launching in Hong Kong next month. It claims to be a virtual reality system that's aimed at theme parks and other places where crowds of people flock.
Here's the developer pitch:
With this ground-breaking system players will be able to be fully immersed in a competitive game with fellow players within the virtual environment. The latest immersive reality entertainment technology deployed in this unique platform – Mocap Games using the company's exclusive motion capture suit to represent the player's movements in the virtual world; a high-fidelity system ideal for application in the public-space.
Look at that motion capture suit! It certainly doesn't look like it's much fun to wear. Then again, neither was the Photon gear. Have at look at the image below, which should help explain how the system works.
Sci-Shoota VR Demonstration in Hong Kong this June [Arcade Heroes]