EVO Entertainment Group (“EVO”) and ShowBiz Cinemas (“ShowBiz”), two leading innovators in motion picture entertainment, announced this week that they have closed a transaction under which EVO has acquired 100% of the stock of Showbiz Cinemas in an all-cash deal. (EVO Entertainment Group, 2022)
“Today is a monumental moment for our company and our industry. 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.” – Mitch Roberts, Founder and CEO of EVO Entertainment Group and 2022 Forbes 30 Under 30 honoree.
Kevin Mitchell, CEO & Founder of Showbiz Cinemas, along with Mitch Roberts represent multiple generations in the cinema business. Their pioneering of cinema entertainment centers has been a smashing success. Kevin Mitchell reflected, “It is 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! 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.”
The combined enterprise will provide dynamic and multi-faceted entertainment experiences to over eight million patrons annually in 16 venues with 148 screens, 108 bowling lanes, 9 full-service restaurants & bars, a 3,000-capacity live music venue, and over 30,000 combined square feet of gaming and attractions across four states, including Texas, Florida, Oklahoma, and Wyoming. EVO’s expansion will continue into 2022 with additional venues currently under construction and expected to open in the coming months. The acquisition marks the first major move in the partnership between EVO and Marbella Interests, the Austin, Texas-based family office of Formentera Partners founder and former Parsley Energy founder and CEO, Bryan Sheffield.
EVO Entertainment Group is an Austin based out-of-home entertainment operator made up from several innovative brands including EVO Entertainment, EVO Cinemas, and EVO Concerts. Since its launch in 2014, EVO has gained a reputation as a leader in innovation, as well as one of the fastest growing independent cinema circuits in the country.
Founded in 2007 by exhibition industry veteran Kevin Mitchell, ShowBiz Cinemas is an independently owned and operated entertainment operator offering bowling, movies, games, food, and more across nine entertainment venues with 89 screens and 70 bowling lanes across Texas, Oklahoma, Florida, and Wyoming.