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Moving iMage Technologies Announces New Esports Orders From SNDBX For Eight EVO Entertainment Group Locations
Rhea-AI Impact
(Moderate)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Moving iMage Technologies (NYSE American: MITQ) has announced a significant partnership with EVO Entertainment Group, which has placed an order for eight MovEsports systems. These systems will be deployed across EVO Entertainment and ShowBiz Cinema locations in Texas, Florida, and Oklahoma by the end of 2023. Tom Lipiec, MiT's senior VP, highlighted strong interest from theater owners in diversifying entertainment options with Esports. Rick Starr, CEO of SNDBX, expressed excitement over the partnership, citing over 1,400 registrations from previous demos at EVO locations. This collaboration reflects EVO's commitment to enhancing guest experiences through engaging Esports leagues.
Positive
EVO Entertainment's order for eight MovEsports systems signifies a robust market demand for Esports integration in theaters.
Previous demonstrations at EVO locations generated over 1,400 registrations each, indicating strong consumer interest.
The partnership with EVO validates the expansion opportunity for theaters to diversify their entertainment offerings.
Negative
None.
FOUNTAIN VALLEY, Calif.--(BUSINESS WIRE)--
Moving iMage Technologies (NYSE American: MITQ) ("MiT"), a leading cinema technology company, today announced that its Esports partner, SNDBX, has placed an order for eight MovEsports systems with newly signed EVO Entertainment Group (EVO). The agreement will bring Esports to eight EVO Entertainment and ShowBiz Cinema locations across Texas, Florida and Oklahoma that will roll out by the end of 2023.
“EVO has been a great partner over the years to MiT, and we are excited to work with them as they roll out their Esports leagues in conjunction with SNDBX,” said Tom Lipiec, MiT’s senior vice president, sales and customer service. “In general, we continue to see strong interest from theater owners in adding additional forms of entertainment, like Esports, to their entertainment offerings. EVO’s investment in Esports validates this expansion opportunity for theaters, and we look forward to supporting SNDBX and EVO as they roll out their first local Esports leagues.”
Rick Starr, CEO of SNDBX stated: “I am elated to have EVO operating SNDBX Leagues. Two of the EVO locations we ran demonstrations in generated over 1400 registrations each! EVO has a progressive-minded leadership team driving massive success for their brands and now for SNDBX.”
“We are thrilled to partner with SNDBX to bring gaming to the big screen,” said Chris Cline, chief development officer at EVO. “We have seen first hand that Esports resonates strongly with our guests and see immense value in building out Esports leagues across our venues.”
Austin-based EVO Entertainment was launched in 2014 with a vision to transform the movie-going experience, and it has since become the nation's largest and leading operator of cinema-entertainment centers. EVO continues to seek partners that can provide guests with differentiated entertainment offerings, and its partnership with SNDX for Esports is a quintessential example. EVO and SNDBX previously held Esports demo days at various EVO locations, which received a tremendously positive response from guests, sealing its desire to add eight systems at the following locations: EVO Entertainment Kyle, EVO Entertainment Prestonwood (opening summer 2023), EVO Entertainment Schertz, EVO Entertainment Southlake, ShowBiz Cinemas Fall Creek, ShowBiz Cinemas Edmond, ShowBiz Cinemas Homestead, and ShowBiz Cinemas Waxahachie.
About Moving iMage Technologies
MOVING iMAGE TECHNOLOGIES (NYSE American: MITQ) is a leading technology, products, and services provider to the Motion Picture Exhibition industry with emerging opportunities in eSports and sports venues. We sell proprietary products, which we design and manufacture in-house, and are developing, introducing, and supporting a wide range of disruptive technologies that will bring SaaS and subscription-based products. Our Caddy brand of proprietary products is a leading provider of proprietary cup holders, trays, and other products to entertainment and sports venues. For more information, visit www.movingimagetech.com.
About SNDBX
SNDBX creates amateur esports and gaming leagues at your local movie theater. With plans to expand to thousands of cinemas across North America, SNDBX is bringing organized kids leagues and adult social gaming to a theater near you. For more on SNDBX or to sign up for a league or free demo, visit www.sndbx.gg
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
Moving iMage Technologies Investor Relations and Media Contact
Brian Siegel, IRC®, M.B.A.
Senior Managing Director
Hayden IR
(346) 396-8696
brian@haydenir.com
