Imax Signs Two-Theater Deal in Ecuador
TORONTO – Imax has a deal for two new theaters in Ecuador, a move that follows the giant screen exhibitor restructuring an agreement with the Racimec International Group last year to remove a drag on its South American expansion.
The new agreement with Supercines, Ecuador's largest exhibitor, will see two Imax screens go into new construction projects in Guayaquil.
The deal is part of Imax's amended master license agreement with Giencourt Investments S.A., a part of Racimec, a Brazil-based lottery operator, to accelerate the rollout of Imax theaters across the region.
"Today's agreement demonstrates that we are continuing to make inroads in South America -- partnering with the top exhibitor in the country and bringing the Imax experience to premium sites," said Imax CEO Richard L. Gelfond in a statement Monday.
Imax has been slow to penetrate the Latin American market, compared to Europe and Asia.