AMC Theatres® Continues Its Theatre Acquisition Strategy, Acquires Seven Locations and 66 Screens in Connecticut, Upstate New York and Annapolis, Maryland
April 12 2022 - 4:05PM
Business Wire
AMC will begin operations at four of its newly
acquired locations on April 21 and 22; the additional three
locations to open in the coming weeks
These seven theatres are the latest strategic
additions to the AMC circuit, joining seven other recently acquired
theatres in the Los Angeles, San Diego, Washington, D.C. and
Chicago markets, all of which have already reopened or will reopen
in 2022
AMC Theatres (NYSE:AMC), the largest theatrical exhibitor in the
United States, in Europe & the Middle East, and in the world,
today announced it finalized a deal with Bow Tie Cinemas to
purchase and operate seven locations in Connecticut, upstate New
York and Annapolis, Maryland.
Marquis 16, Royale 6, SoNo 8 (formerly Regent 8), Majestic 6 and
Landmark 8 join the AMC circuit in the Connecticut market. This
acquisition more than doubles AMC’s presence in the state of
Connecticut. In addition, AMC adds Saratoga Springs 11 in upstate
New York and Annapolis Mall 11 in Annapolis, Maryland. AMC intends
to retain all theatre associates at the newly acquired
theatres.
Marquis 16, Landmark 8, Majestic 6 and Annapolis Mall 11 are
expected to open the weekend of April 21. The remaining theatres
are expected to open by the end of April.
AMC remains in active discussions with other property owners
regarding additional locations.
Upon reopening, guests at these locations can expect many of
AMC’s most popular programs and amenities, including AMC Stubs, a
world class loyalty and subscription service that includes AMC
Stubs A-List. In addition, Marquis 16, Royale 6, SoNo 8, Majestic
6, Landmark 8, and Annapolis Mall 11 were renovated in recent years
and include all-recliner seating. Saratoga Springs 11, Marquis 16,
Majestic 6 and Annapolis Mall 11 offer a PLF experience.
For more information about the transition and the AMC experience
guests can visit the FAQ page on AMC’s website at
www.amctheatres.com/bow-tie-cinemas.
Adam Aron, Chairman and CEO of AMC, commented: “Today’s
announcement is exciting for AMC, our shareholders and many
moviegoers in the northeastern United States. Our theatre
acquisition strategy makes AMC a better and stronger company as we
move forward on our glidepath to recovery. Acquiring these
locations is especially notable for our expansion in Connecticut,
where we are more than doubling our presence. We are encouraged to
bring the magic of AMC to more and more theatres across the
country, given our mid-2021 acquisitions of AMC The Grove 14 and
AMC Americana at Brand 18, both in the Los Angeles market, continue
to rank among the 30 highest grossing movie theatres in the entire
United States since joining up with AMC.”
Aron continued: “I would particularly like to thank Connecticut
Governor Ned Lamont. While AMC did not seek or receive any special
tax benefit or other inducement to expand our presence in the state
of Connecticut, Governor Lamont has made great strides to enhance
the appeal of Connecticut, making it a particularly attractive
jurisdiction in which to more than double our size.”
About AMC Entertainment Holdings, Inc.
AMC is the largest movie exhibition company in the United
States, the largest in Europe and the largest throughout the world
with approximately 950 theatres and 10,500 screens across the
globe. AMC has propelled innovation in the exhibition industry by:
deploying its Signature power-recliner seats; delivering enhanced
food and beverage choices; generating greater guest engagement
through its loyalty and subscription programs, web site and mobile
apps; offering premium large format experiences and playing a wide
variety of content including the latest Hollywood releases and
independent programming. For more information, visit
amctheatres.com.
About Bow Tie Cinemas
Bow Tie Cinemas, North America’s oldest theater circuit started
in 1900 and is owned by the 3rd and 4th generations of its founding
family. The company will continue to operate theaters in Richmond,
VA; New Haven, CT; Schenectady, NY; Ridgewood, NJ; Basalt, CO and
Manhattan. The company is expanding into the Luxury Entertainment
Center business as well as additional cinema locations.
Category: Company Release
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version on businesswire.com: https://www.businesswire.com/news/home/20220412006082/en/
INVESTOR RELATIONS: John Merriwether, 866-248-3872
InvestorRelations@amctheatres.com
MEDIA CONTACTS: Ryan Noonan, (913) 213-2183
rnoonan@amctheatres.com
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