TORONTO,
ONTARIO--(Marketwired - Sept. 17, 2015) - Cineplex Entertainment
("Cineplex") (TSX:CGX) today announced that it has acquired the
operational assets of WG Ltd. (operating as WorldGaming), a leading online
gaming platform that facilitates tournaments, leagues and gaming ladders for
the competitive gaming community. The acquisition will see the creation of a
new company that will transform eSports in Canada by creating a community that
connects live online gaming with unique in-theatre tournament experiences to be
held in Cineplex theatres across the country.
"This acquisition
leverages Cineplex's existing assets including our theatre locations, the SCENE
loyalty program and the numerous marketing touchpoints that we have
developed," said Ellis Jacob, President and Chief Executive Officer of
Cineplex Entertainment. "We see that eSports are quickly becoming a global
phenomenon and this investment provides us with the unique opportunity to
engage a new customer base as well as expand the concept in markets outside of
Canada."
As part of the deal,
Cineplex will invest $10-million US to acquire the assets in exchange for 80
per cent ownership of the new company, as well as invest an additional
$5-million US to expand the business model. In addition, Cineplex is pleased to
announce the creation of a new league that will operate and oversee future
in-theatre eSports tournaments hosted across Canada.
"Joining Cineplex
Entertainment will undoubtedly propel the Canadian eSports landscape forward
and take to a whole new level," said Rob Segal, Chief Executive Officer of
WG Ltd. "We are excited to be working with an iconic leader in entertainment
to bring our hundreds of thousands of members into theatres where the
best-of-the-best in gaming can compete face-to-face."
Theatres are ideal
locations for gamers to compete and their fans to cheer them on and Cineplex is
excited to bring the experience and thrill of competitive video gaming to its
guests. The online portion of the tournaments will be hosted on WorldGaming's
proprietary gaming platform and the events are expected to take on three main
formats:
National Tournaments -
quarterly tournaments that begin with online qualifiers, moving to regional
rounds in 24+ Cineplex theatres. National tournaments will culminate in one
final event broadcasted via satellite across the country with the winner receiving
a cash prize;
Local Tournaments -
single-day regional events featuring new games that will give casual gamers the
opportunity to play in Cineplex theatres against other players locally; and
League Play - similar
to league sports like hockey and soccer, guests and teams can sign-up for a
12-week program featuring one game and play in rounds leading up to a final
held locally in each city.
Details will be
available soon on the league's first national tournament scheduled for October
2015.
Interested participants
are encouraged to visit Cineplex.com/GameOn for more information.
About Cineplex Inc.
Cineplex Inc.
("Cineplex") is one of Canada's leading entertainment companies and
operates one of the most modern and fully digitized motion picture theatre
circuits in the world. A top-tier Canadian brand, Cineplex operates numerous
businesses including theatrical exhibition, food services, gaming, alternative
programming (Front Row Centre Events), Cineplex Media, Cineplex Digital
Solutions, Cineplex Digital Networks, and the online sale of home entertainment
content through CineplexStore.com and on apps embedded in various electronic
devices. Cineplex is also a joint venture partner in SCENE - Canada's largest
entertainment loyalty program.
Cineplex is headquartered
in Toronto, Canada, and operates 162 theatres with 1,652 screens from coast to
coast, serving approximately 74 million guests annually through the following
theatre brands: Cineplex Odeon, SilverCity, Galaxy Cinemas, Scotiabank
Theatres, Cineplex Cinemas and Cineplex VIP Cinemas. Cineplex also owns and
operates the UltraAVX, Poptopia, and Outtakes brands. Cineplex trades on the
Toronto Stock Exchange under the symbol CGX. More information is available at
www.Cineplex.com.
Cineplex Entertainment
Pat Marshall
Vice President of
Communications and Investor Relations
416-323-6648
Pat.Marshall@Cineplex.com
Cineplex Entertainment
Sarah Van Lange
Director of
Communications
647-287-9582
Sarah.VanLange@Cineplex.com
www.Cineplex.com
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