IMAX Corporation (NYSE: IMAX; TSX: IMX) and Gulf Film today announced an expansion of their partnership with a revenue share agreement for three IMAX® theatre systems in the Middle East. Under the terms of the agreement, one of the IMAX theatres will be located in an existing multiplex in Dubai, United Arab Emirates, and two will be located in new flagship cinemas in Qatar and Bahrain.
“Since upgrading to the IMAX digital system in 2011, our IMAX theatre in Dubai has dramatically increased its business and has had a major impact on our overall box office performance,” said Jaber Al Ansari, Managing Director, Gulf Film. “Today’s agreement, which is a direct result of this success, marks a milestone in the region’s film entertainment landscape and highlights the growing demand for IMAX among audiences in the Middle East. As we expand our circuit, IMAX will continue to serve as a key differentiator in our offering, bringing movie-goers the world’s most immersive cinematic experience.”
The deal brings to four Gulf Film’s total IMAX commitment and brings to 10 the total number of commercial IMAX theatres in the Middle East.