NEW YORK, Dec. 10, 2012 /CNW/ - IMAX Corporation (NYSE: IMAX; TSX: IMX) and UCI Brazil today announced an agreement to install three IMAX® digital theatres across Brazil. The agreement, which is a part of IMAX's restructured master license agreement with Giencourt Investments S.A., a member of the RACIMEC International Group (RACIMEC), brings to five UCI Brazil's total IMAX commitment.
"Our existing IMAX theatres have proven to be a key differentiator for our multiplexes in Brazil," said Duncan Short, Vice President of International Operations, National Amusements, Inc., a parent company of UCI Brazil. "We are confident that the addition of IMAX theatres to our circuit will be embraced by audiences and help strengthen our business in Latin America."
"Latin America is a priority for us and we are pleased to accelerate our network there with valued partner and world-class exhibitor UCI in Brazil," said Richard L. Gelfond, CEO of IMAX. "Our existing theatres in Brazil have performed extremely well, including our theatres with UCI. We expect strong consumer demand to continue to drive our growth in the region."
"We believe UCI Brazil is strategically positioned to help accelerate IMAX's network expansion and bring the most immersive moviegoing experience available to more audiences in Brazil," said Miguel Sfeir, President of RACIMEC Corporation.
About National Amusements
National Amusements, Inc. is a world leader in the motion picture exhibition industry operating more than 950 movie screens in the U.S., U.K., and Latin America. National Amusements delivers a superior entertainment experience in theatres around the world under its Showcase, Multiplex, and Cinema de Lux brands. Based in Norwood, Massachusetts, National Amusements is a closely held company operating under the third generation of leadership by the Redstone family. National Amusements is also an equal partner in the online ticketing service, MovieTickets.com, and is the parent company of both Viacom and CBS Corporation. Visit them at www.showcasecinemas.com
About RACIMEC International Group
RACIMEC International Group was founded in Rio de Janeiro, Brazil, in August 1966, as one of the most prominent entertainment and public gaming companies in the world, developing gaming applications such as Lotto and Soccer Lottery, for various Latin American countries including Brazil, Chile, Argentina, Venezuela, Colombia and Paraguay. The RACIMEC International Group has reached outstanding success in various countries with its starring game KINO, a pre-printed ticket game with a real time live TV show, crossing over the 4 billion dollar barrier during the last decade. RACIMEC has been identified by the Lottery market as the creator of new standards in Game operation and safety in the different countries where it operates.
About IMAX Corporation
IMAX, an innovator in entertainment technology, combines proprietary software, architecture and equipment to create experiences that take you beyond the edge of your seat to a world you've never imagined. Top filmmakers and studios are utilizing IMAX theatres to connect with audiences in extraordinary ways, and, as such, IMAX's network is among the most important and successful theatrical distribution platforms for major event films around the globe.
IMAX is headquartered in New York, Toronto and Los Angeles, with offices in London, Tokyo, Shanghai and Beijing. As of Sept. 30, 2012, there were 689 IMAX theatres (556 commercial multiplex, 20 commercial destination and 113 institutional) in 52 countries.
IMAX®, IMAX® 3D, IMAX DMR®, Experience It In IMAX®, An IMAX 3D Experience®, The IMAX Experience® and IMAX Is Believing® are trademarks of IMAX Corporation. More information about the Company can be found at www.imax.com. You may also connect with IMAX on Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax and YouTube (www.youtube.com/imaxmovies).
This press release contains forward looking statements that are based on IMAX management's assumptions and existing information and involve certain risks and uncertainties which could cause actual results to differ materially from future results expressed or implied by such forward looking statements. These risks and uncertainties are discussed in IMAX's most recent Annual Report on Form 10-K and most recent Quarterly Reports on Form 10-Q.
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