IMAX Corporation and Galaxy Cinema announced Monday an agreement for two new IMAX with Laser systems in Vietnam. The deal will bring the first-ever premium IMAX with Laser systems to the country.
Vietnam’s largest local cinema chain, Galaxy Cinema is set to construct the two new flagship locations, including one in Ho Chi Minh City, in 2023.
The announcement was made Monday at the annual CinemaCon 2023 exhibition conference in Las Vegas.
This deal is the first partnership between IMAX and Galaxy Cinema, a local cinema chain operated in all regions of Vietnam. It increases IMAX’s presence from four existing systems in Vietnam, two in Hanoi and two in Ho Chi Minh City, to a total of six.
The agreement marks the first new construction for IMAX in the country since 2019.
IMAX is seeing strong box office in Vietnam, where the company just had its highest-grossing year ever in 2022. Vietnam is one of 48 countries where Avatar: The Way of Water stands as the highest grossing IMAX release ever.
“Southeast Asia remains a strong region with solid growth potential for IMAX, and we’re excited to continue our expansion in emerging markets like Vietnam, Southeast Asia’s fastest-growing economy for two years in a row,” IMAX’s CEO Rich Gelfond said in a press release. “We’re excited to begin our partnership with Galaxy Cinema and bring the full IMAX experience to their audiences for the first time, and we look forward to cultivating a long and successful partnership.”
“This fantastic new partnership with IMAX will help Galaxy Cinema reach high-end customers via IMAX’s premium technology,” Galaxy Cinema’s CEO Mai Hoa added. “We’re excited to offer our customers the most extraordinary experience and, together with IMAX, to make Galaxy Cinema a must-see destination for moviegoers.”
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