Close X
Wednesday, November 20, 2024
ADVT 
National

Cineplex Buying Into Future Of Esports, Forming Competitive Video-Game League

The Canadian Press, 17 Sep, 2015 01:20 PM
    TORONTO — The operator of Canada's largest chain of movie theatres is moving further into the world of competitive electronic gaming, announcing some US$15 million in investments on Thursday.
     
    Cineplex Entertainment Inc. (TSX:CGX) will pay US$10 million to acquire the assets of WorldGaming, which has a platform used for tournaments and leagues for the competitive gaming community.
     
    It will also invest a further US$5 million to created a new competitive gaming league that will operate and oversee future tournaments at Cineplex theatres across the country, with the first competitions beginning in October.
     
    Cineplex CEO Ellis Jacob said the investment will help the company reach a younger demographic whose attention is being pulled away from its movie theatres by the wealth of available digital content.
     
    He said the company wants to make its theatres a destination for all kinds of entertainment, and that the social aspects of competitive gaming make it a perfect fit for Cineplex.
     
    "People want to be face to face with each other and compete, and other people want to watch them play," he said.
     
    Jacob said competitive gaming, also known as eSports, could be a huge market in Canada, pointing to places such as South Korea and Japan where eSports events can sell out stadiums. Cineplex hopes one day that its eSports promotion can sell out the Air Canada Centre.
     
    "It's very big phenomenon and I think that all that is needed in Canada is for a brand like ours to embrace it and work with other companies on promotion," he said.
     
    Cineplex spokeswoman Pat Marshall said the gaming league will involve local tournaments, regional qualifiers and national tournaments for a variety of eSports titles. Details are expected to be announced in the coming weeks.
     
    The worldwide eSports industry, buoyed by the popularity of titles such as League of Legends and Counter-Strike: Global Offensive, is worth around US$613 million, according to SuperData Research.
     
    Advertisers salivate over the demographics of the gaming community, with Coca-Cola signing up to be a leading sponsor of Riot Games' League of Legends tournaments in the United States.
     
    Canaccord Genuity analyst Aravinda Galappatthige said Cineplex is smart to diversify, and that its small investment in competitive gaming could have big returns.
     
    "There's very little money down, very little risk," he said. "You use your name and brand and reach to leverage in Canada on a trend that seems to be quite a phenomenon across the world."
     
    Galappatthige said Cineplex has an opportunity to centralize the fragmented world of eSports promotion and fan base in Canada and increase visibility for competitive gaming.
     
    "With a big name like Cineplex taking leadership, setting up a league and approaching it in a more structured way, you'll probably see more results," he said.
     
    Sten Dragoti, who co-founded Windsor-based eSport Gaming Events in 2013, said the biggest challenge for the industry is being taken seriously by the large corporate sponsors that dominate traditional sports.
     
    "They didn't grow up with this but they're starting to come around," he said.
     
    Dragoti said he often has to explain to executives the importance and popularity of competitive gaming, using examples such as the US$18.5-million prize pool split between the winners at the International tournament for the game Dota II in August.
     
    "You can't ignore that kind of money," he said. "I think eSports isn't just a fad, it's here to stay."

    MORE National ARTICLES

    James Daniel McIntyre Identified As Man Shot By Dawson Creek Police, Anonymous Vows Revenge

    James Daniel McIntyre Identified As Man Shot By Dawson Creek Police, Anonymous Vows Revenge
    The global activist hackers' group Anonymous has claimed through social media that the man was one of its comrades and has vowed revenge against the RCMP.

    James Daniel McIntyre Identified As Man Shot By Dawson Creek Police, Anonymous Vows Revenge

    Winnipeg Man Suspected Of Planning To Aid Terrorism Awaits Court Date

    Winnipeg Man Suspected Of Planning To Aid Terrorism Awaits Court Date
    WINNIPEG — A Winnipeg man suspected of planning terrorist activities is still waiting to find out when his case will go to court.

    Winnipeg Man Suspected Of Planning To Aid Terrorism Awaits Court Date

    Former Vermont Transportation Chief To Push For Resumption Of Train Service To Montreal

    Former Vermont Transportation Chief To Push For Resumption Of Train Service To Montreal
    MONTPELIER, Vt. — A former Vermont transportation secretary is coming out of retirement to help plan resumption of passenger train service between the northeastern United States and Montreal.

    Former Vermont Transportation Chief To Push For Resumption Of Train Service To Montreal

    RCMP National Website Goes Offline, Anonymous Claims Responsibility

    RCMP National Website Goes Offline, Anonymous Claims Responsibility
    Anonymous has no identifiable leadership but online posters who say they're members have claimed responsibility in the past for hacking incidents including the shutdown of the city of Cleveland's website last fall.

    RCMP National Website Goes Offline, Anonymous Claims Responsibility

    Canadian Techs Train Ukrainian Soldiers In The Art Of Bomb Disposal

    Canadian Techs Train Ukrainian Soldiers In The Art Of Bomb Disposal
    The soldiers, from the 4th Engineering Support Regiment, based in Gagetown, N.B., are in Yavoriv, Ukraine to impart skills hard-won in the over decade-long Afghan war.

    Canadian Techs Train Ukrainian Soldiers In The Art Of Bomb Disposal

    Steven Sharda, 20-Year-Old Indo-Canadian Youth Shot Dead in Calgary

    Steven Sharda, 20-Year-Old Indo-Canadian Youth Shot Dead in Calgary
    Steven Sharda, 20, was found dead in a vehicle on July 11, South Asian Link reported. Another unidentified person, found with Sharda in the vehicle, was critically injured and is battling for his life in a hospital.

    Steven Sharda, 20-Year-Old Indo-Canadian Youth Shot Dead in Calgary