Cineplex Inc.'s Player One Amusement Solutions business acquired by OpenGate Capital

Goodmans LLP acted for Cineplex Inc., a Canadian entertainment and media company, in connection with OpenGate Capital acquiring the amusement solutions business of Cineplex.

OpenGate acquired all of the issued and outstanding common shares of Player One Amusement Group for a total purchase price of $155 million in cash, subject to customary post-closing adjustments.

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 closed February 1, 2024, and was subject to regulatory approvals and other customary closing conditions. As part of the transaction, P1AG entered into a long-term agreement to continue to supply and service amusement games in Cineplex's theatres and location-based entertainment venues.