OPENGATE CAPITAL ACQUIRES P1AG

OpenGate Capital has acquired all issued and outstanding common shares of Player One Amusement Group for a total purchase price of $155 million in cash, subject to customary post-closing adjustments.

As part of the transaction, Cineplex and P1AG entered into a long-term agreement where P1AG will continue to supply and service amusement games in Cineplex’s theaters and location-based entertainment venues.

“The acquisition by OpenGate Capital presents a tremendous opportunity for P1AG to expand our business across various sectors while also enhancing our capabilities and core services,” said John Kolliniatis, senior vice president and general manager of P1AG. “I am very excited for our future.”