Cineplex paid $10 million to acquire WorldGaming’s operational assets . The transaction contemplates the creation of a new company that will be focused on eSports competition — 80% of the company will be owned by Cineplex — as well as Cineplex’s promise to invest another $5 million for expansion efforts.
“We see that eSports 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,” said Cineplex CEO Ellis Jacob.
Cineplex will host three types of eSports formats: national tournaments, local tournaments and league play. National tournaments will have online qualifiers with regional rounds played across 24+ Cineplex theaters and a final event broadcast via satellite across Canada. League play will consist of a 12-week competition with local winners awarded at the end of the schedule.