Cinemark to Expand Footprint in Utah with New Theatre in Riverton

Rhea-AI Summary

Cinemark Holdings is expanding its footprint in Utah by constructing a new 14-screen theatre at Mountain View Village, Riverton, set to open mid-2022. This project, in partnership with CenterCal Properties, was agreed upon in 2019 and marks a significant development for Cinemark, notably as one of the first theatres to commence construction post-COVID pandemic. The theatre will feature advanced technologies, including Cinemark XD and luxury loungers, enhancing the movie-going experience.

Positive

• The new Riverton theatre will include state-of-the-art amenities, enhancing customer experience.
• It marks a strategic expansion in a high-demand market, reflecting Cinemark's resilience and growth potential.

Negative

• None.

Cinemark Holdings, Inc., one of the world’s largest and most influential movie theatre companies, in partnership with CenterCal Properties LLC, today announced that it will be expanding its presence in Utah with the addition of a new 14-screen theatre in Mountain View Village located in Riverton. Formally agreed upon in 2019, the theatre is currently under construction and set to open mid-2022.

“We are thrilled to be expanding the immersive, cinematic experience of seeing a film on the big screen with the addition of a brand-new Cinemark theatre in Riverton,” said Jay Jostrand, Cinemark EVP of Real Estate. “We know Utah has an avid moviegoing community, and we are proud to work with long-time partner CenterCal Properties to bring this new entertainment destination to life with our best amenities and the sight and sound technology that cannot be replicated at home.”

All 14 auditoriums of the new theatre in Mountain View Village will boast advanced technology and fan-favorite amenities.

• Cinemark XD auditorium - the world’s No. 1 exhibitor Premium Large Format brand;
• Cinemark’s Luxury Loungers - electric-powered, plush, oversize recliners with footrests and cup holders in all auditoriums;
• Reserved seating in all auditoriums with convenient online and kiosk ticketing;
• An ultra-modern viewing environment with wall-to-wall screens and enhanced sound systems in all auditoriums;
• 4K laser projection powered by Cinionic for Barco;
• A spacious offering expanded food and beverage options, including individual Pizza Hut pizzas; and
• A concession stand brimming with popcorn, an assortment of beverages and fan-favorite candy brands.

Mountain View Village is an 85-acre premier mixed-use lifestyle center in the southern Greater Salt Lake Area that offers an impressive lineup of retail, restaurant, business and apartment options. The new Cinemark theatre is part of the center’s Phase II development, which also includes five pocket parks, a stunning show fountain and a covered market hall-style pavilion with a series of eateries and indoor and outdoor seating.

“We are honored and thrilled to once again partner with Cinemark Theatres, this time for Mountain View Village, Phase II,” said Craig Trottier, CenterCal Properties LLC President, Intermountain Region. “The groundbreaking of this new Cinemark location represents one of the first new theatres to begin construction since the COVID pandemic began and is a testament to Cinemark’s strength and commitment to its customers. This theatre will set a new standard for entertainment in the Intermountain West. We can’t wait for their grand opening next year.”

Stay connected with Cinemark at cinemark.com and through Cinemark's social media channels at Facebook, Twitter and Instagram (@Cinemark or #Cinemark). For more information on construction progress for Mountain View Village and the Cinemark theatre, visit www.mountainviewvillage.com.

About Cinemark Holdings, Inc.:

Headquartered in Plano, TX, Cinemark (NYSE: CNK) is one of the largest and most influential movie theatre companies in the world. Cinemark’s circuit, comprised of various brands that also include Century, Tinseltown and Rave, operates 531 theatres (331 U.S., 200 South and Central America) with 5,958 screens (4,507 U.S., 1,451 South and Central America) in 42 states domestically and 15 countries throughout South and Central America. Cinemark consistently provides an extraordinary guest experience from the initial ticket purchase to the closing credits, including Movie Club, the first U.S. exhibitor-launched subscription program; the highest Luxury Lounger recliner seat penetration among the major players; XD - the No. 1 exhibitor-brand premium large format; and expansive food and beverage options to further enhance the moviegoing experience. For more information go to https://investors.cinemark.com/

View source version on businesswire.com: https://www.businesswire.com/news/home/20210427006153/en/

FAQ

What is the new Cinemark theatre in Riverton?

Cinemark is constructing a new 14-screen theatre at Mountain View Village in Riverton, Utah, set to open mid-2022.

When will the new Cinemark theatre open?

The new theatre is scheduled to open in mid-2022.

What features will the Riverton Cinemark theatre have?

The theatre will have advanced technology, including Cinemark XD, luxury loungers, and an expanded food and beverage offering.

Who is partnering with Cinemark for the new theatre?

Cinemark is partnering with CenterCal Properties LLC for the development of the new theatre.

Why is the new Cinemark theatre significant?

It represents one of the first new theatres to begin construction since the COVID pandemic, showcasing Cinemark's commitment to growth.