IMAX has signed a deal with Cinema City International to install two new IMAX systems in Israel.
They are slated to open in 2011.
Cinema City will also upgrade all eight of its existing film-based IMAX sites with IMAX digital technology. Six of those will be upgraded in 2010, with the final three finished by 2011.
This follows IMAX’s first digital upgrade in Lodz, Poland earlier this year.
“We have been operating IMAX theatres for many years and have seen first-hand how the IMAX business drives incremental revenue for an entire theatre complex and improves the overall perception of going to the movies for consumers,” said Moshe Greidinger, CEO of Cinema City International. “Earlier this year we upgraded our film-based IMAX system in Lodz with IMAX’s digital system and have already recorded significantly improved operating results. The elimination of high film print costs and added program flexibility has made our decision to add new locations and upgrade all of our existing IMAX locations an easy one to make. We’re very excited about our future with IMAX and look forward to offering more consumers in Eastern Europe and Israel awe-inspiring entertainment experiences.”
“Cinema City’s significant endorsement of our digital projection system and extensive experience with marketing the IMAX brand in the region makes them an ideal partner to have as we continue to focus on growth in Europe and surrounding markets,” added IMAX CEO Richard L. Gelfond. “Theatre system signings are continuing to build momentum this year in the wake of several recent strong box office performances and in anticipation of our continuously growing slate of event Hollywood films.”
In all, Cinema City operates 69 multiplexes with 677 screens in Poland, the Czech Republic, Hungary, Romania, Bulgaria and Israel.
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