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Cineplex Inc. and VRstudios Inc. Announce Partnership

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Agreement Includes Equity Investment, Commercial Partnership and Expansion Opportunities. Company Plans to Roll-Out 30-40 Virtual Reality Installations in Canada

 

Cineplex, a leading entertainment and media company, announced a strategic partnership with VRstudios, Inc. (“VRstudios”), the largest provider of turnkey, location-based virtual reality solutions in the world. The agreement includes a commercial partnership and an investment by Cineplex to acquire a significant ownership interest in VRstudios. The financial terms were not disclosed.

In addition to installation opportunities at existing Cineplex-owned properties – including its theatre network and location-based entertainment (LBE) network – the agreement also provides broader expansion opportunities in North America and around the globe. Founded in 2014 and based in Seattle, Washington, VRstudios’ product solutions are sold in various configurations for untethered multiplayer, free-roaming, room-scale and warehouse-scale commercial VR attractions. It features eight unique VR experiences in environments ranging in size from 100 to 2,400 square feet.

With more than 65 systems deployed to customers in 15 countries, plus another 120 commercial VR attractions powered by its AMP management software, VRstudios has the largest global installation footprint today and provides virtual reality solutions to popular entertainment destinations including theme parks, arcades, amusement parks, family entertainment centres, casinos and movie theatre complexes. Cineplex has recently installed a VRstudios attraction at The Rec Room in South Edmonton, Alberta, and plans to open approximately 30-40 additional locations across its theatre and LBE networks in Canada by the end of 2021.

“We are not just deploying VR across our network, we are strategically investing in the market to create new revenue streams as well as critical mass and scale for growth. We are proud to be leading the way in the burgeoning location-based VR market,” said Ellis Jacob, President and CEO, Cineplex. “VRstudios’ product portfolio base has obvious application opportunities across the Cineplex ecosystem, and we are particularly excited about growth opportunities for Player One Amusement Group.”

One of North America’s leading providers of interactive video, redemption and amusement gaming equipment, Player One Amusement Group (P1AG) specializes in solution servicing and design for a wide range of customers in the theatrical exhibition vertical as well as community-based entertainment destinations such as bowling centres, restaurants, arcades, shopping centres and water parks. The agreement announced today creates opportunities for P1AG to work closely with VRstudios to manage the sale, support integration and maintenance of VRstudios’ portfolio of systems in North America.

“Cineplex is one of the world’s leading entertainment companies and we are honoured to be working in partnership with them to drive further innovation in the location-based VR marketplace,” said Kevin Vitale, Chief Executive Officer, VRstudios. “There is great synergy in our respective visions for scaling VR in commercial entertainment and the enterprise-wide strategy to make it happen.”

VRstudios offers a complete, customizable end-to-end virtual reality solution that includes an Attraction Management Platform™ for location-based entertainment businesses. Designed from the ground up, these systems facilitate amazing experiences which cannot be duplicated by in-home consumer virtual reality platforms. Emphasizing turnkey installation, easy-operation, training and support as well as owner profitability, the VRstudios solutions utilizes commercial-quality, patent-pending technology to offer ultimate virtual reality attractions.

Forward Looking Statements
This press release contains “forward-looking statements” within the meaning of applicable securities laws, such as statements concerning anticipated future events, results, circumstances, performance or expectations that are not historical facts. These statements are not guarantees of future performance and are subject to numerous risks and uncertainties, including those described in Cineplex’s Annual Information Form (“AIF”). Those risks and uncertainties include: adverse factors generally encountered in the film exhibition industry such as poor film product and unauthorized copying; risks associated with national and world events, including war, terrorism and international conflicts; natural disasters or extreme weather conditions; infectious diseases; changes in income tax legislation; and general economic conditions. In addition, these risks and uncertainties include: the ability to achieve the expected synergies and the timing of same; the effectiveness of integration efforts and risks related to the satisfaction of the conditions to closing the transaction; and the related financing arrangements, including future general economic and market conditions and the associated debt and equity capital markets. Many of these risks and uncertainties can affect our actual results and could cause our actual results to differ materially from those expressed or implied in any forward-looking statement made by us or on our behalf. All forward-looking statements in this press release are qualified by these cautionary statements. These statements are made as of the date of this press release and, except as required by applicable law, we undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise. Additionally, we undertake no obligation to comment on analyses, expectations or statements made by third parties in respect of Cineplex, its financial or operating results or its securities.

About Cineplex:
A leading entertainment and media company, Cineplex (TSX:CGX) is a top-tier Canadian brand that operates in the Film Entertainment and Content, Amusement and Leisure, and Media sectors. As Canada’s largest and most innovative film exhibitor, Cineplex welcomes over 70 million guests annually through its circuit of 165 theatres across the country. Cineplex also operates successful businesses in digital commerce (CineplexStore.com), food service, alternative programming (Cineplex Events), cinema media (Cineplex Media), digital place-based media (Cineplex Digital Media), amusement solutions (Player One Amusement Group) and an online eSports platform for competitive and passionate gamers (WorldGaming.com). Additionally, Cineplex operates a location based entertainment business through Canada’s newest destination for ‘Eats & Entertainment’ (The Rec Room), and will also be opening new complexes specially designed for teens and families (Playdium) as well as exciting new sports and entertainment venues across Canada (Topgolf). Cineplex is a joint venture partner in SCENE, Canada’s largest entertainment loyalty program.

Proudly recognized as having one of the country’s Most Admired Corporate Cultures, Cineplex employs approximately 13,000 people in its offices across Canada and the United States. To learn more visit Cineplex.com or download the Cineplex App.

About VRstudios:
VRstudios is a pioneer and leader in delivering turn-key large-scale, multiplayer, free-roaming commercial VR attraction systems for the LBE industry. The company offers a product line of complete solutions that can be quickly installed and efficiently operated, VRstudios is a one-stop-shop that makes it easy for owners and operators to offer innovative virtual reality attractions to their visitors. VRstudios launched in 2014 and has shipped over 65 systems to 15 countries.

Source: Cineplex


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George Miller (Gyorgy Molnar) started his career in content marketing and has started working as an Editor/Content Manager for our company in 2016. George has acquired many experiences when it comes to interviews and newsworthy content becoming Head of Content in 2017. He is responsible for the news being shared on multiple websites that are part of the European Gaming Media Network.

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BETMAKERS AND GIG PARTNER TO DELIVER RACING TO GIG’S SPORTSBOOK PLATFORM SPORTX

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BetMakers Technology Group  and Gaming Innovation Group are pleased to announce that they have entered into an agreement to deliver racebook services on GiG’s Sportsbook Platform SportX via integration with BetMakers’ Embedded Racebook Solution.

BetMakers’ Embedded Racebook Solution offers a fast and seamless pathway for licensed operators to offer a full racebook with a comprehensive platform that includes wagering, form, data and embedded video. Despite a rapid deployment timeline, BetMakers’ solution is powerful, offering expert trading and risk management, a wealth of racing content from across the globe, and robust reporting, brand and promotion engines.

Andrew Cochrane, CBO at Gaming Innovation Group, said, “This agreement reinforces our dedication to providing our partners with extensive event coverage and a best-in-class sports betting solution. The continual enhancement and innovation of our Sportsbook highlight SportX’s exponential growth potential, guaranteeing a feature packed, industry-leading offer that is focused on driving increased functionality, productivity and growth. We are delighted to offer the BetMakers Embedded Racebook Solution as part of SportX to our partners.”

Jake Henson, CEO of BetMakers Technology Group, said, “BetMakers is excited to partner with GiG to deliver racing on their state-of-the-art platform. GiG’s SportX Sportsbook Platform delivers an exceptional user experience and BetMakers’ Embedded Racebook Solution will fit seamlessly within that environment, providing a comprehensive and highly professional suite of services that will enhance the experience of their end users and provide valuable services to their operator partners. We are delighted to work closely with GiG to help grow demand for horseracing on their platform and further contribute to the health and welfare of the global racing industry.”

The post BETMAKERS AND GIG PARTNER TO DELIVER RACING TO GIG’S SPORTSBOOK PLATFORM SPORTX appeared first on European Gaming Industry News.

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SPOTLIGHT SPORTS GROUP ANNOUNCES SPONSORSHIP AGREEMENT BETWEEN RACING POST AND AK BETS FOR THE SWEET SPOT

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Spotlight Sports Group, a world-leading technology, content and media company specialising in sports betting, has today announced a partnership with AK Bets that will see the bookmaker become the title sponsor of the Racing Post’s acclaimed golf betting show The Sweet Spot, featuring revered golf tipster Steve Palmer and host Jack Reeve.

The Sweet Spot will be distributed every Tuesday with the dynamic duo of the Racing Post’s esteemed host Jack Reeve and renowned golf tipster Steve Palmer bringing their unrivalled expertise and engaging discussions to the fore with these unmissable weekly shows.

Additionally, viewers can look forward to four special edition episodes coinciding with each of the prestigious golf Majors, featuring exclusive live watchalong sessions of the thrilling final days of The Masters, PGA Championship, US Open and The Open.

Of the new deal, Spotlight Sports Group’s Head of Media Sales Damian Mears said: “The Sweet Spot has established itself as one of our most popular weekly shows and Steve’s insight and expertise is widely regarded as the leading content and opinion for golf sports bettors. We’re excited to partner with AK Bets and continue to grow our reach and engage with a valued audience in both the UK and Ireland.”

Discussing the partnership, Anthony Kaminskas, founder of AK Bets, said: “I have been an avid listener of The Sweet Spot for a number of years and I’m delighted AK Bets is now sponsoring the podcast. I’m particularly excited AK Bets are going to be involved with watchalongs for the four Majors and feel like that’s a format we, along with Jack and Steve, can have fun with while creating engaging content for the show’s followers. Golf is a sport we’re keen to attack at AK Bets and this partnership with The Sweet Spot fits perfectly with our aspirations to be the go-to bookmaker for golf bettors.”

The Sweet Spot can be viewed across the Racing Post YouTube channel and AK Bet’s social and sportsbook channels for detailed analysis of the week’s upcoming golfing action starting on Tuesday, April 9, 2024 for The Masters at Augusta.

The post SPOTLIGHT SPORTS GROUP ANNOUNCES SPONSORSHIP AGREEMENT BETWEEN RACING POST AND AK BETS FOR THE SWEET SPOT appeared first on European Gaming Industry News.

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BTG’s Fireworks Megaways™ to Light up Evolution Network This March

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Rockets soar and pop like glitter bombs, Catherine wheels fizz to the music triggering explosive chain reactions, roman candles spit fire. It can only be the pyrotechnic dream that is Fireworks Megaways™ , the new slot from Big Time Gaming (BTG) that will ignite the Evolution Network on March 27.

With 117,649 ways to win and combustible cascading symbols with every spin, this is a game that will have you “Oooh-ing,” not to mention “aaah-ing,” with delight.

Thanks to the Firework Wild Bonus, every spin and every reaction brings a burst of excitement when one of the four Extra Reel positions ignites at random to unleash a dazzling light display. When a purple, red, blue, or green Firework lands in the lit position, it magically transforms into a Wild symbol for the chance of a big win.

During Free Spins, the unlimited win multiplier increases with every Firework Wild Bonus triggered, creating more awe-inspiring explosions of colour. Every Free Spin and reaction will ignite two of the four Extra Reel positions, doubling your chances of triggering the Firework Wild Bonus.

But the excitement doesn’t stop there. Use Win Exchange™ to convert your big wins into 12 Free Spins. Alternatively, dive straight into the heart-pounding Free Spins action with Bonus Buy for 100x stake and let the fireworks commence. Experience the exhilaration of a staggering 150,335x maximum exposure coupled with an impressive RTP of 96.44% – a gaming delight that promises to captivate and delight players at every turn.

Nik Robinson, BTG CEO, said: “Fireworks Megaways™ is a thrilling spectacle of colour and sound designed to elevate engagement levels to the max. Beyond its visually stunning display, this slot introduces the exciting Firework Wild Bonus, setting a new standard for thrilling features. With Fireworks Megaways™, it’s not just about playing a game; it’s about immersing yourself in an extraordinary spectacle of excitement, innovation and gaming adventure like no other.

Nicholas Peters, Chief Business Development Officer for Europe at Evolution said: “This game is an audio-visual delight that will captivate players. BTG has a knack for pushing the boundaries and reimagining what a slot can be, and this time around they’ve turned a humble slot game into a glorious fireworks display.”

The post BTG’s Fireworks Megaways™ to Light up Evolution Network This March appeared first on European Gaming Industry News.

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