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Imax, UCI Brazil Unveil New 3-Theater Deal in Latin America

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The agreement continues the Canadian giant screen exhibitor's expansion under a restructured master license agreement with Racimec International Group.

TORONTO – Imax has resumed its expansion in Latin America by unveiling a new three-theater deal under a restructured agreement with Brazilian lottery operator Racimec International Group.

Toronto-based Imax has teamed up with UCI Brazil to install three new digital theaters across Brazil, as part of a revamped master license agreement with Giencourt Investments S.A., a member of the Racimec International Group.

The deal, which brings to five the number of theaters that Racimec will operate, accelerates the roll-out of Imax screens in South 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," Imax CEO Richard Gelfond said Monday in a statement.

The giant screen exhibitor has been slow to penetrate Latin America, in contrast to Europe and Asia where Imax has made a big push to build out its global network of theaters.

Imax and Racimec first unveiled deals to open giant screen theaters in Chile and Venezuela in 2005.

"Our existing Imax theaters have proven to be a key differentiator for our multiplexes in Brazil," added Duncan Short, vp of international operations for National Amusements, parent of UCI Brazil.

"We are confident that the addition of Imax theaters to our circuit will be embraced by audiences and help strengthen our business in Latin America,” Short said in his own statement.