EVO Entertainment Group has acquired 100% of the stock of ShowBiz Cinemas in an all-cash deal, according to PRNewswire.
“Today is a monumental moment for our company and our industry,” said Mitch Roberts, founder and CEO of EVO Entertainment Group and 2022 Forbes 30 under 30 honoree. “This transaction establishes EVO as the country’s largest operator of cinema-entertainment centers and paves the way for accelerated progress and innovation within a new era of cinema.”
Roberts, as well as ShowBiz Cinemas founder and CEO Kevin Mitchell, represent multiple generations in the business.
“It’s a wonderful time to entrust the company I started to a fourth-generation motion picture exhibitor and family member, because Showbiz Cinemas just had an all-time record-breaking holiday season,” Mitchell reported. “I am confident that Mitch’s leadership and Marbella’s capital strength will ensure a long and successful run for ShowBiz, and I now look forward to exploring new ventures both in and out of the entertainment industry.” (Marbella Interests is a partner with EVO Entertainment.)
The combined enterprise will serve some 8 million guests annually in 16 venues with 148 movie screens, 108 bowling lanes and more than 30,000 sq. ft. of arcades and attractions. Learn more at www.evocinemas.com.