EVO ENTERTAINMENT GROUP AND IMAX ENTER PARTNERSHIP WITH EIGHT NEW IMAX LOCATIONS ACROSS TEXAS AND FLORIDA

Rhea-AI Summary

IMAX Corporation has secured a major partnership with EVO Entertainment Group to install eight new IMAX® with Laser systems, marking its most significant expansion in North America in a decade. The agreement includes seven locations in Texas, including Houston and Austin, and one in Florida, with openings expected by Q3 2023. This collaboration, announced at CinemaCon 2023 in Las Vegas, signifies IMAX's commitment to enhancing movie-going experiences. To date, IMAX has signed 63 agreements for new or upgraded systems worldwide in 2023, surpassing the total for all of 2022. The new technology promises brighter images, deeper contrast, and a wider color range, enhancing the premium cinema experience.

Positive

• Partnership with EVO Entertainment Group to install eight new IMAX systems.
• Significant expansion in North America, the largest in a decade.
• 63 new or upgraded IMAX systems signed in 2023, more than all of 2022.

Negative

• None.

New Collaboration Marks IMAX's Largest Agreement for New Locations with a New Partner in North America in a Decade

LAS VEGAS, April 26, 2023 /PRNewswire/ -- EVO Entertainment Group (EVO) and IMAX Corporation (NYSE: IMAX) have announced an exciting new partnership, agreeing to install eight new state-of-the-art IMAX® with Laser systems. This marks the first-ever collaboration between the two companies. As part of the agreement, EVO will bring seven new IMAX systems to Texas, including Houston and Austin, and one to Florida. The new systems are expected to begin opening in the third quarter of 2023.

IMAX's latest agreement with EVO Entertainment Group represents the company's most significant expansion into new locations with a new partner in North America since 2013. The announcement was unveiled today during the annual CinemaCon 2023 exhibition conference, held in Las Vegas, Nevada.

"As we continue to expand, we remain committed to being at the forefront of cutting-edge spaces," said Mitch Roberts, CEO of EVO Entertainment Group. "This partnership with IMAX allows us to further enhance our state-of-the-art facilities and provide our guests with the ultimate movie-going experience. We are excited to bring IMAX with Laser to our venues and look forward to elevating the standard for cinematic experiences."

"EVO is bringing fresh energy to the exhibition landscape in Texas and beyond and we are very excited to be in business with such a forward-thinking, innovative partner committed to offering audiences premium entertainment experiences," said Rich Gelfond, CEO of IMAX. "The fact that IMAX is driving significant network growth with new partners in even our most penetrated market of North America speaks to the remarkable momentum across our business right now."

Austin-based EVO Entertainment Group was founded in 2014 by CEO Mitch Roberts with the vision of reinventing and enhancing the movie-going experience and has since evolved into creating differentiated entertainment destinations and experiences that encompass movie theatres, bowling, high-tech arcades, dining, and unique attractions. The company is driving the evolution of entertainment as the nation's leading and largest operator of cinema-entertainment centers and continues to look for ways to enhance the guest experience.

With the new partnership, IMAX has now signed agreements for 63 new or upgraded IMAX systems around the world in 2023 to date — more than in the entirety of 2022. This includes agreements in key growth markets such as Japan, Indonesia, France, Thailand, and Vietnam.

EVO's upcoming IMAX locations include EVO Entertainment Kyle, EVO Entertainment Hutto (opening 2024), EVO Cinemas Creekside, EVO Cinemas Belterra, ShowBiz Cinemas Baytown, ShowBiz Cinemas Homestead, ShowBiz Cinemas Liberty Lakes, and ShowBiz Cinemas Waxahachie. 

These locations will offer moviegoers an unparalleled cinematic experience, featuring IMAX with Laser — IMAX's most advanced theatre technology. Utilizing a groundbreaking 4K laser projection system and a suite of proprietary technology, IMAX with Laser delivers lifelike images and precision audio. These new IMAX with Laser screens will showcase brighter images with increased resolution, deeper contrast, and the widest range of colors, providing an exclusive and immersive moviegoing experience that can only be experienced in an IMAX theatre.

ABOUT EVO ENTERTAINMENT GROUP 

Austin-based EVO Entertainment Group is driving the evolution of entertainment as the nation's leading and largest operator of cinema-entertainment centers, with a portfolio of brands that includes EVO Entertainment, EVO Cinemas, EVO Live, Elevate Rewards, Times Square Grand Slam and ShowBiz Cinemas. The organization creates experiential entertainment destinations that offer a broad slate of activities including movies, bowling, games, and attractions like climbing walls, virtual reality, ropes courses, and bumper cars, while serving elevated cuisine from their scratch-kitchens and bars. The company employs 1,200-plus cast members and entertains 8 million-plus guests annually across 172 cinema screens, 151 bowling lanes, and more than 50,000 square feet of gaming and attractions space. With a relentless focus on an elevated guest experience, EVO has a way to play for all ages. www.evo-entertainment.com

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 systems to connect with audiences in extraordinary ways, making IMAX's network among the most important and successful theatrical distribution platforms for major event films around the globe.  Streaming technology company SSIMWAVE, an IMAX subsidiary, is a leader in AI-driven video quality solutions for media and entertainment companies. 

IMAX is headquartered in New York, Toronto, and Los Angeles, with additional offices in London, Dublin, Tokyo, and Shanghai. As of December 31, 2022, there were 1,716 IMAX systems (1,633 commercial multiplexes, 12 commercial destinations, 71 institutional) operating in 87 countries and territories. Shares of IMAX China Holding, Inc., a subsidiary of IMAX Corporation, trade on the Hong Kong Stock Exchange under the stock code "1970."   

IMAX®, IMAX® Dome, IMAX® 3D, IMAX® 3D Dome, Experience It In IMAX®, The IMAX Experience®, An IMAX Experience®, An IMAX 3D Experience®, IMAX DMR®, DMR®, Filmed For IMAX™, IMAX LIVE™, IMAX Enhanced™, IMAX nXos®, SSIMWAVE® and Films to the Fullest®, are trademarks and trade names of the Company or its subsidiaries that are registered or otherwise protected under laws of various jurisdictions. For more information, visit www.imax.com. You may also connect with IMAX on Instagram (www.instagram.com/imax), Facebook (www.facebook.com/imax), Twitter (www.twitter.com/imax), YouTube (www.youtube.com/imaxmovies) and LinkedIn (www.linkedin.com/imax). 

For additional information please contact:

EVO

evo@ideapeddler.com

IMAX

Investors: 
Jennifer Horsley 
jhorsley@imax.com

Media: 
Jane Collins 
jcollins@imax.com

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SOURCE IMAX Corporation

FAQ

What is the recent partnership announced by IMAX and EVO Entertainment Group?

IMAX has partnered with EVO Entertainment Group to install eight new IMAX® with Laser systems in Texas and Florida.

When are the new IMAX locations expected to open?

The new IMAX locations are expected to begin opening in the third quarter of 2023.

How many new IMAX systems has the company signed in 2023?

As of now, IMAX has signed agreements for 63 new or upgraded IMAX systems worldwide in 2023.

Where will the new IMAX systems be located?

The new systems will be installed in seven locations across Texas and one location in Florida.

What technology will be featured in the new IMAX locations?

The new locations will feature IMAX with Laser, offering brighter images, deeper contrast, and a wider range of colors.