IMAX is shutting down its virtual reality arcade business for good | The Verge

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"Virtual reality arcades were supposed to be one of the first, most convenient ways that expensive VR headgear would reach the masses — but IMAX, the highest-profile provider of VR arcades, has decided to throw in the towel. The large-format cinema company has officially announced that it will be shutting down its last three locations in Los Angeles, Bangkok and Toronto early next year, and is writing off its VR business as well.

That’s according to Variety, which spotted the news in a SEC regulatory filing and got a more detailed statement from an IMAX spokeperson as well:

“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,” reads the company’s statement."

IMAX is shutting down its virtual reality arcade business for good | The Verge