Canadian Vending

News
Cineplex completes Starburst takeover


October 2, 2015
By Canadian Vending

Toronto – Cineplex Entertainment has completed the acquisition of the remaining 50 per cent that it did not already own of Cineplex Starburst, one of North America’s largest distributors and operators of arcade games.

Cineplex Entertainment announced Oct. 1 that it has completed the acquisition of the remaining 50 per cent of issued and outstanding equity of Cineplex Starburst Inc. that it did not already own for $17.5 million, subject to post-closing adjustments.

“We’re very pleased with today’s announcement and believe that the acquisition will continue to drive our amusement gaming business forward as we look to expand and grow within the entertainment industry in Canada and across the United States,” said Ellis Jacob, president and CEO of Cineplex Entertainment, in a news release.

Cineplex Starburst Inc. is one of the largest distributors and operators of arcade games to the amusement industry supplying and servicing games for Cineplex’s 162 theatres in Canada as well as amusement centres across North America. It also owns and operates Premier Amusements, a US-based gaming supplier that services over 200 family entertainment and amusement venues across 24 states, as well as the Playdium family entertainment centre in Mississauga, Ont.

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In March 2015, CSI completed a transaction with Brady Distributing Company to create Brady Starburst LLC, making it one of the largest distributors of amusement and vending equipment in North America.

With the closing of this transaction, Cineplex now owns 100 per cent of CSI and will begin consolidating CSI within its financial results.