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AMC Theatres has announced the acquisition and reopening of the AMC Evanston 12 cinema, previously operated by Cinemark, in the Chicago area later this year. This addition strengthens AMC's presence in key markets, joining existing locations in Los Angeles, San Diego, Washington D.C., and Chicago. AMC's CEO, Adam Aron, emphasized the importance of this strategic acquisition, noting that recent acquisitions have seen strong performance. The theatre will offer popular amenities, including AMC Stubs loyalty programs.
Positive
Acquisition of AMC Evanston 12 enhances AMC's market presence in Chicago.
Strategic location expected to attract a strong customer base.
Previous acquisitions in the area have shown strong performance.
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None.
The popular theatre, previously operated by Cinemark, will reopen as AMC Evanston 12 later this year
AMC Evanston 12 is the latest major market addition to the AMC circuit, joining six other theatres in the Los Angeles, San Diego, Washington D.C. and Chicago markets, all of which have already reopened or will reopen in 2022
LEAWOOD, Kan.--(BUSINESS WIRE)--
AMC Theatres (NYSE:AMC), the largest theatrical exhibitor in the United States, in Europe & the Middle East, and in the world, today announced it has reached a lease agreement with Chicago-based, GW Properties to acquire and open AMC Evanston 12, located in the Chicago area. The theatre is expected to open later this year.
AMC remains in active discussions with other property owners regarding additional currently closed locations.
Upon reopening, guests at AMC Evanston 12 can expect many of AMC’s most popular amenities, including AMC Stubs, a world class loyalty and subscription service that includes AMC Stubs A-List, as well as a MacGuffins bar. Formally Evanston 18, six of the screens and restaurant space are being closed by GW Properties and renovated for non-theatre use.
Adam Aron, Chairman and CEO of AMC, commented: “This constitutes our third announcement of a major market acquisition in the last two months, including the second acquisition announcement for a theatre in the Chicago metropolitan area, which remains a strong moviegoing market for AMC. We look forward to bringing the AMC experience to even more guests in and around Chicagoland, at this previously high-traffic, well known location. We continue to seek out these strategic acquisition opportunities to strengthen our company. Our initial recent results encourage us to keep going, given that 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.”
Mitch Goltz, Principal and Co-Founder of GW Properties, commented: "We are excited to welcome AMC Theatres into this important project in the heart of Evanston and bring patrons back to the theatres who have eagerly been awaiting its return to the community."
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.
