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Cineplex buys online game tournament company

Cineplex Entertainment of Toronto has acquired online gaming company WorldGaming from Difference Capital Financial of Toronto. The US$10 million dollar deal will give Cineplex an 80% ownership stake. WorldGaming's services include the management of tournaments, leagues and gaming ladders for the competitive video game community. Cineplex will use these assets in a new initiative that will combine live online gaming and in-theatre tournament experiences at Cineplex locations nationally. Cineplex will also create a new league that will operate these tournaments. Events will consist of national and local tournaments, as well as 12-week city-based league play. The first national tournament will take place in October.

"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 CEO of Cineplex Entertainment. "We see that e-sports 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."

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