Cineplex Closes 175M Deal Buying Outstanding Cineplex Starburst Shares

TORONTO -- Cineplex Inc., dba Cineplex Entertainment, said it has purchased the remaining 50% of the outstanding shares of Cineplex Starburst Inc. for $17.5 million. The deal is subject to post-closing adjustments.

"We're very pleased with today's announcement and believe it will continue to drive our amusement gaming business forward as we look to expand and grow within the entertainment industry in Canada and the United States," said Cineplex president and chief executive Ellis Jacob.

Cineplex Starburst Inc. is one of the largest distributors and operators of arcade games. It supplies and services games for Cineplex's 162 movie theaters in Canada, as well as amusement centers across North America. It also owns and operates Premier Amusements, a U.S.-based amusement machine supplier that services more than 200 family entertainment centers in 24 states, as well as the famous Playdium FEC in Mississauga, ON.

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