(Toronto) Cineplex confirms that the sale of Player One Amusement Group has been finalized.
The movie theater chain announced in November the sale of its arcade games business to OpenGate Capital.
The private equity firm purchased Player One for 155 million in cash.
As part of this transaction, Player One will continue to provide and service games in Cineplex theaters.
Cineplex says the net proceeds from the sale will be used to repay debt.
After the negative effects of the pandemic on the film industry, Cineplex saw some improvement last year thanks to the success of films such as barbie and the tour concert film Era by Taylor Swift.