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Cineplex Inc. and VRstudios Inc. Announce Partnership

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Cineplex Inc. and VRstudios Inc. Announce PartnershipReading Time: 4 minutes

 

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


Source: European Gaming Media

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DAO.Casino is launching Sandbox for game developers

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Game developers will be able to become pioneers in the development of decentralized games for the gambling industry using DAO.Casino protocol.

 

On September 17, 2018, DAO.Casino is opening Sandbox for developers, independent teams and game development studios that choose to harness the power of the rapidly developing DApp industry.

Since Monday everyone may submit their application for Sandbox on the official Sandbox page.

The Sandbox project is designed by DAO.Casino developers. Participants of Sandbox will learn the basics of decentralized applications development on DAO.Casino protocol. Developers participating in Sandbox will learn to create, design and deploy decentralized games and applications on Ethereum blockchain.

DAO.Casino is planning to reward most active developers for their constructive feedback on the improvement and optimization of the SDK and related documentation. The company will separately announce the details of the rewards program later this fall.

“We are confident that the Sandbox project will play an important role in our collaboration with studios and independent game developers. We cannot wait to see our product helping developers unleash their creative and entrepreneurial talents and apply those to one of the most groundbreaking technologies of the XXI century. — states Ilya Tarutov, CEO, DAO.Casino. – I am sure that the products we’re developing will transform the online gambling into a fair and transparent industry for all of the involved parties: casino operators, developers, and affiliate marketers. “

“We are launching the Sandbox with the goal of enabling as many developers as possible to learn to create decentralized games. We have achieved an important milestone by starting to accept applications from developers all around the world who share our idea to make online gambling fair and transparent. With our technology, developers can take the whole gambling industry to the next level” – says Alexandra Fetisova from DAO.Casino.

DAO.Casino disrupted the online gambling industry in 2017 by starting the development of the protocol based on Ethereum blockchain technology. DAO.Casino protocol ensures the automation of transactions and facilitates interactions between all the industry participants: casino operators, game developers, and affiliate marketers. DAO.Casino team is fully dedicated to developing the best products and making the gambling industry a better place.

 


Source: European Gaming Media

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Big Time Gaming licences patented mechanic to Storm Gaming

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Big Time Gaming licences patented mechanic to Storm GamingReading Time: 1 minute

 

BTG licences its patented and trademarked MegaWays™ mechanic to UK-based developer Storm Gaming Technology Ltd

 

Pioneering online slot developer, Big Time Gaming, has struck yet another deal to licence its patented and trademarked MegaWays™ mechanic to Storm Gaming. Storm Gaming will be combining this with some of its brand licenses including I’m A Celebrity Get Me Out of Here, The Chase and Tipping Point to take its slots to the next level and deliver a superior player experience. The partnership will allow Storm Gaming to design and develop its own games using MegaWays™, which debuted in Big Time Gaming’s Dragon Born over three years ago.

Blueprint, another licensee of MegaWays™ has had great success leveraging BTG’s ground breaking IP, and Storm are sure to follow suit with a range of interesting products penned for land-based and online deployment Q1 2019.

MegaWays™ is a random reel modifier system that allows any given spin to produce a different number of symbols across the reels, allowing players to experience a totally different game with every spin. Big Time Gaming has cornered the market with this innovation with games like Bonanza, White Rabbit and Extra Chilli, and will be launching Who Wants to be a Millionaire in November – the most anticipated branded slot launch in history.

Nik Robinson, Big Time Gaming CEO, said: “We’re looking forward to seeing how Storm use the MegaWays™ mechanic. Storm has some highly entertaining IP licenses that will work seamlessly with MegaWays™.”

Steve Murray from Storm Gaming, said: “The MegaWays™ concept is remarkable; it provides for and delivers exciting game play on a whole new level. “We shall be using MegaWays™ on new Storm concepts and licensed IP with a number of launches set for the coming months.”


Source: European Gaming Media

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AGA Releases New Research On Economic Impact Of Gaming Industry

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AGA Releases New Research On Economic Impact Of Gaming IndustryReading Time: 1 minute

 

Report shows 9.5 percent increase in economic output; industry now supports 1.8 million jobs nationwide

 

the American Gaming Association (AGA) released a new study examining the striking impact the gaming industry has on the U.S. economy – providing stable jobs to nearly two million Americans and generating billions of dollars in tax revenue. This is the first comprehensive report on the gaming industry’s national economic impact since 2014.

Oxford Economics’ 2018 study found that the U.S. gaming industry:

  • Contributes $261 billion to the U.S. economy, a 9.5 percent increase since 2014;
  • Supports nearly 1.8 million jobs, up from 1.7 million jobs in 2014; and
  • Generates $40.8 billion in tax revenues to federal, state and local governments.

“Gaming companies across the country are enabling long-lasting careers for their employees and making a huge impact on their communities through innovative partnerships with local nonprofits, volunteerism and the generation of revenue that supports critical services. The industry’s tax revenue alone provides enough funding to hire 692,000 new teachers,” said Sara Slane, senior vice president of public affairs for the American Gaming Association. “Since our last study in 2014, casino gaming has expanded into new markets, offered innovative new entertainment options and enhanced its position as a key contributor to local, state and federal economies.”

The research was commissioned by AGA and conducted by Oxford Economics. More information about the study can be viewed here.

About AGA: 

The American Gaming Association is the premier national trade group representing the $261 billion U.S. casino industry, which supports 1.8 million jobs nationwide. AGA members include commercial and tribal casino operators, gaming suppliers and other entities affiliated with the gaming industry. It is the mission of the AGA to achieve sound policies and regulations consistent with casino gaming’s modern appeal and vast economic contributions.


Source: European Gaming Media

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