Cineplex selling Player One Amusement Group business for $155 million

Cineplex Inc. has signed a deal to sell its Player One Amusement Group business to OpenGate Capital for $155 million in cash.

Player One Amusement Group sells, distributes, operates and services arcade games and other equipment. 

Cineplex chief executive Ellis Jacob says the company built the business being sold through several acquisitions and organic growth, to become a North American leader.

The company says the sale unlocks value for Cineplex and its stakeholders and provides immediate liquidity for debt repayment.