Cineplex Inc.'s Player One Amusement Solutions Business to be Acquired By OpenGate Capital

Goodmans LLP is acting for Cineplex Inc., a Canadian entertainment and media company, in connection with OpenGate Capital (“OpenGate”) acquiring the amusement solutions business of Cineplex.

In connection with the acquisition, OpenGate will acquire all of the issued and outstanding common shares of Player One Amusement Group (“P1AG”) for a total purchase price of $155 million in cash, subject to customary post-closing adjustments (the "Transaction").

The Transaction unlocks tremendous value for Cineplex and its stakeholders, while providing immediate liquidity for repayment of net proceeds against the Company's credit facility.

The Transaction is expected to close in the first quarter of 2024 and is subject to regulatory approvals and other customary closing conditions. As part of the Transaction, P1AG has entered into a long-term agreement to continue to supply and service amusement games in Cineplex's theatres and location-based entertainment venues.