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"He has always endeavoured to bring in and play the type of players that possessed the necessary characteristics and shared his vision as to how the game should be played," he said.

In a decade, the loss in revenue could exceed the funds brought in by the tax.

By the late ’90s, Cordova had brought in a stage, borrowed sound equipment from original Fishbone bassist John Norwood Fisher and started working with local music promoters to host shows.

The scheme brought in around $1.2 billion, which was funneled into real estate investments in the United States and Brazil.

As movie theatres struggle to bring in audiences and as many consumers stay home and watch YouTube, Amazon MGM executives repeatedly told the crowd they were committed to the theatrical experience.