Cineplex Net Worth

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Cineplex was founded by Ellis Jacob and Stephen Brown in 1999, with its headquarters in Toronto, Canada. Some of its first investors were Onex Corporation and Famous Players. During its early years, Cineplex was mostly focused on smaller markets. As the years went on, the company began expanding, and in 2005 it announced an acquisition from Famous Players from Viacom, worth $500 million. In mid-2012, the group bought four of AMC’s Canadian theaters, and later that year it opened its first VIP cinema, located outside of Ontario. In the following year, the group announced that they would focus more on the real estate and retail operations, and in that direction Cineplex went on to buy 24 Empire Theatres in Atlantic Canada.

Cineplex uses banners such as Cineplex VIP Cinemas, SilverCity, Famous Players, Galaxy and Scotiabank Theatre, among others. Their cinemas have some of the most advanced technologies such as over 200 premium screens, 109 large screens and more than 40 D-Box Screens. In addition, they are widely known being the creators of the UltraAVX, that includes reserved seating, wall to wall screens, large rocker seats and the sound effects of Cineplex cinemas feature Dolby Atmos system.

The group is also recognized for introducing various reality technologies such as 4DX, which was launched in late 2016 at Cineplex Cinemas Yonge-Dundas with the movie ‘’Doctor Strange’’. Some of Cineplex’s cinemas include entertainment centers and restaurants such as Burger King, KFC and New York Fries. The mentioned entertainment centers are known as Xscape Entertainment Centre, and its facilities are usually included in its new locations, or are refurbished into already existing locations.

As of late 2017, there were 28 such locations. Xscape features plenty of possibilities for playing traditional and redemption games too, while some locations additionally include party and lounge rooms. The rest of the locations have Cinescape arcade, which have replaced TechTown.

As of early 2015, the group made an announcement about their chain of entertainment restaurants named The Rec Room, subsequently featuring bar and restaurant areas, simulators and areas made for recreational games. Ellis Jacob, the founder and CEO of the company stated that the mentioned chain is supposed to help their cinemas expand beyond their core business. The Rec Room was first included in South Edmonton Common in the following year, and subsequently at Toronto’s Roundhouse Park in mid-2017. Cineplex plans on opening 10-15 such locations, which would have various sizes, anywhere from 30,000 to 60,0000 square feet.

All the innovations and improvements have had their part in increasing the value of Cineplex, so in conclusion, thanks to the dedication of its CEOs, Cineplex is continuously growing and expanding, and as of today is one of the most advanced companies in its branch of business.

 

Structural info

  • Net Worth: $1 Billion
  • Date Of Birth: April 19, 1979
  • Place Of Birth: Toronto, Ontario, Canada
  • Profession: Entertainment (movie theaters)
  • Parents: Ellis Jacob, Stephen Brown
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