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In November 2016 IMAX launched an 50 million US Dollar investment fund for Virtual Reality Content projects. This complemented the launched of a number of VR theaters, in Europe, in Manchester England. New York's Time Square. And Canada. Adding D-Box motion seats to the Los Angeles VR theater, as one of the last updates. In all IMAX opened seven VR Centers.
Since most locations have been closed, the three remaining locations are now wound down, according to an SEC filing. The complete VR business is to be closed, with remaining assets and investments written down.
IMAX issued a statement to Variety: “With the launch of the IMAX VR centre pilot program our intention was to test a variety of different concepts and locations to determine which approaches work well. After a trial period with VR centres in multiplexes, we have decided to conclude the IMAX VR centre pilot program and close the remaining three locations in Q1 2019”.
Since most locations have been closed, the three remaining locations are now wound down, according to an SEC filing. The complete VR business is to be closed, with remaining assets and investments written down.
IMAX issued a statement to Variety: “With the launch of the IMAX VR centre pilot program our intention was to test a variety of different concepts and locations to determine which approaches work well. After a trial period with VR centres in multiplexes, we have decided to conclude the IMAX VR centre pilot program and close the remaining three locations in Q1 2019”.