On July 26, 2017, Topgolf and Cineplex announced an exclusive partnership stating Topgolf’s sports and entertainment experience will be coming to Canada. In the statement Topgolf said “throughout the years, Canada has been the top-requested country among our fans asking us to expand outside the United States”. The joint venture will see the opening of multiple Topgolf venues in markets across the country during the next several years.
This past December the Toronto-based movie giant Cineplex Entertainment Inc. was recently sold to a U.K.-based company called Cineworld in a “friendly takeover deal”. Cineplex sold for $2.8 billion, and Cineworld will take on their debt in the newly acquired deal, stripping the company of its pure Canadian status.
In February, Cineplex Inc. shareholders overwhelmingly approved a $2.8-billion agreement. Cineplex says it intends to apply for a final order from the Ontario Superior Court of Justice to approve the transaction. The transaction is expected to be completed in the first half of 2020, after which time its shares would be delisted from the Toronto Stock Exchange.
Cineworld chief executive officer Moshe “Mooky” Greidinger has big plans for Cineplex.
Greidinger told media he would introduce a movie ticket subscription service to Canada within six months of the deal closing. His Regal theatres already operates such a service, charging customers about $18 a month for unlimited movie tickets.
He also expressed an interest in opening more theatres using Screen X, which involves a 270-degree screen, and CJ 4DPLEX, an immersive cinema concept that uses motion, wind, fog, rain, lighting, snow, bubbles, vibration and scent.
He was less forthcoming about what he would do with Cineplex’s handful of entertainment and dining complexes like the Rec Room, Playdium and forthcoming Junxion concept.
He also did not share what he planned to do with Top Golf, a virtual reality golfing concept Cineplex is due to bring to Canada. After a number of requests to Top Golf they told Pro Shop magazine they have no additional updates but still hope to bring Top Golf to Canada.
