IMAX & AMC Theatres Introduce IMAX VR Centre In New York

IMAX Corporation (NYSE:IMAX) and AMC Entertainment Holdings, Inc. (NYSE:AMC) owned AMC Theatres has announced the launch of an IMAX VR Centre at AMC Kips Bay 15 in New York City. The new centre offers guests with a fascinating multi-dimensional virtual reality experience, along with movie entertainment content and games.

The IMAX VR features an exclusive combination of premium technology and top-notch content that lets users view and sense different worlds realistically. Players will be instantly transported to new and interactive virtual worlds with a groundbreaking VR headset technology, 360-degree sound and an urbane room tracking.

The Centre, first one to be installed in a multiplex, located in the lobby of AMC Kips Bay 15 multiplex, uses a new design proprietary to IMAX, consisting of 12 “pods” to enable multiple players have an enjoyable VR experience. IMAX intends to boost its top line by drawing more people to the theaters through this move. In January, IMAX has launched the flagship pilot IMAX VR Centre in Los Angeles. The centre started off well and IMAX is set to launch around eight such new centres in the U.S., Canada, the U.K., France, the Middle East, China and Japan in 2017.

IMAX aims at utilizing these pilot locations to assess factors such as overall customer experience, pricing models and the types of content featured. If it pays off, IMAX wishes to roll out this concept world-wide to select multiplexes and commercial locations such as shopping centers and tourist destinations.

Zacks Rank & Key Picks

IMAX currently carries a Zacks Rank #4 (Sell). Better-ranked stocks in the broader Consumer Discretionary sector are Twenty-First Century Fox, Inc (NASDAQ:FOX) and Essendant Inc. (NASDAQ:ESND) . While Essendant sports a Zacks Rank #1 (Strong Buy), Twenty-First Century Fox carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Shares of Essendant gained above 8% over three months, while Twenty-First Century Fox has an impressive earnings history. The company beat the Zacks Consensus Estimate in three of the last four quarters with an average beat of 14.09%.

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