IMAX Corporation (NYSE: IMAX; TSX: IMX) today announced an expansion of its revenue sharing agreement with Cinémas Guzzo for an additional two IMAX® theatre systems in Quebec. Cinémas Guzzo will add an IMAX theatre at its Mega-Plextm Deux-Montagnes 14 in Deux-Montagne and a second IMAX theatre at its Mega-Plextm Terrebonne 14 in Terrebonne, which marks the exhibitor's fourth agreement for two IMAX screens within a single multiplex. This is also the first-ever single-language, dual-screen installation in the IMAX network. Today's deal brings to 12 Cinémas Guzzo's total IMAX commitment.
"IMAX continues to thrill our guests and drive business results," said Vincenzo Guzzo, Executive Vice-President, Cinémas Guzzo. "For example, since the March 2012 opening of our first IMAX theatre in Taschereau, the complex's overall gross box office has increased 20 percent in just a year.
We're delighted to add more theatres to our circuit to meet the growing IMAX demand among our patrons. Also, as the IMAX film slate continues to expand with even more Hollywood blockbuster titles, we're pleased to add a second French-language IMAX screen in Terrebonne. This will allow us to take greater advantage of blockbuster opening weekends in the same complex."
"We're pleased to see existing partners expand their IMAX business - a testament to the truly differentiated brand and entertainment experience we
deliver," said Mark Welton, President, IMAX Theatres. "In just over a year, Cinémas Guzzo has opened six IMAX theatres in high-growth areas throughout the greater Montreal area. They are a tremendous IMAX brand ambassador and we're delighted to build on their success to date."
Cinémas Guzzo currently has six IMAX theatres open and six contracted to open. The exhibitor has IMAX theatres open at the Mega-Plextm Pont-Viau 16, Mega-Plextm Terrebone 14, and two IMAX theatres at both the Mega-Plextm Taschereau 18 and Mega-Plextm Marche Central 18. This year, the exhibitor will open an IMAX theatre at the Cinémas Des Sources in Dollard-Des-Ormeaux, and as per today's agreement, an IMAX theatre at the Mega-Plextm Deux-Montagnes 14 and a second French-language IMAX screen at the Mega-Plextm Terrebone 14. In 2014, Cinémas Guzzo will open an IMAX theatre at the Mega-Plextm Lacordaire 16 and two theatres at the new Mega-Plextm Sainte-Therese 12.