Lola Pictures—and the Las Vegas film industry, for that matter—has much to rejoice about. Universal Pictures came up with the winning $2 million bid to distribute the local motion-picture development and production company’s title, Frank and Lola, mostly shot in Vegas and locally staffed.

According to Deadline, the deal was brokered on Thursday at the Sundance Film Festival in Park City, Utah, where the film was screened three times for the public (including its premiere) and once for critics and industry professionals. The noir-esque romantic thriller, directed and written by Matt Ross and co-produced by Lola Pictures’ Chris Ramirez, is projected to be released later this year.

The well-received film stars Michael Shannon (99 Homes, Revolutionary Road) and Imogen Poots (A Late Quartet, Fright Night) as the titular and troubled characters who find love in the former’s Las Vegas restaurant. However, a man from Lola’s past surfaces and causes tumult in the new relationship. Justin Long, Rosanna Arquette and Michael Nyqvist also star.

Frank and Lola was filmed at Carson Kitchen, Velveteen Rabbit, El Cortez, the Juhl residential property and Wynn and Encore, among other locations, and worked with local film company Silver State Production Services, which Ramirez founded in 2012 (and has since sold). The movie was also the beneficiary of tax credits from the state. Last year, legislators both passed and then reneged on an $80 million tax-abatement expansion that promised to lure more film projects to Nevada.

Ramirez is currently working to bring a biopic about the late UNLV basketball coach Jerry Tarkanian to the big screen.