Regal Cinemas parent Cineworld to file for bankruptcy

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Re: Regal Cinemas parent Cineworld to file for bankruptcy

Post by Alpha8472 »

storewanderer wrote: August 26th, 2022, 1:13 am Galaxy has a theater check policy. Sometimes that policy is contractual from the movie studio. Some operators opt to just roll a blanket policy out for all shows.
There is another secret shopper theater check program. The studio sends a secret shopper to count the number of patrons in one auditorium. If the number of patrons does not match the number of tickets that the theater reports, the studio could deny rights to show future films.

This happens because movie studios think that theaters are scamming the studios by not paying the studio for each ticket sold.

Theaters have to make sure no people are sneaking into theaters and seeing the movie for free. An independent theater owner once almost lost his contract with a major studio because the secret shopper miscounted. The studio thought that he was letting people see the movie for free.

So many auditoriums have empty seats in order to prevent problems with the studios.
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Re: Regal Cinemas parent Cineworld to file for bankruptcy

Post by norcalriteaidclerk »

reymann wrote:i wonder how many regal locations will close or be sold off to smaller theater chains due to bankruptcy.
There is a minor third chain in NorCal that coexists with both Regal and Cinemark: Petaluma-based Cinema West (http://www.cinemawest.com).They recently acquired the placerville Regal Multiplex in addition to already operating the Palladio 16 in Folsom's broadstone shopping area(new build to enter the market)and a 13 screen complex in Country Club Plaza (opened before the pandemic in a closed/converted off Broadway shoe warehouse).

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Re: Regal Cinemas parent Cineworld to file for bankruptcy

Post by storewanderer »

Regal opened a cinema in downtown Reno in the 90's and promptly closed it after a very short time period, then Century assumed operations but it has always run on a somewhat limited basis.

Century then built a new theater in downtown Sparks. Century maintained a lock on the movie market in Reno until about 10 years ago when a Galaxy theater opened in Sparks at Legends development. That Galaxy caused Cinemark to close the downtown Sparks Century (claimed the lease ended) so Galaxy went ahead and assumed operations of that theater so now Galaxy has two large complexes a couple of miles apart in Sparks. Cinemark does maintain a monopoly on movie theaters in the City of Reno, perhaps continuing the proud legacy of Century/Syufy. The ghost of Century/Syufy still operates the El Rancho Drive In/Flea Market in Sparks.

Regal briefly operated a cinema in Stateline, NV in the Horizon Casino somewhat recently; they inherited that from a chain they purchased called Hollywood Theaters (which was previously known as Wallace Theaters in this market, not sure how large of a chain Wallace was but at one time they had a second run complex in Sparks which was gone by the early 00's plus 3 smaller complexes in Carson City, eventually settling on an expansion of the North Carson Stadium complex to try and fight off a new Galaxy in South Carson; this did not go well but that North Carson Stadium is still open by someone and runs second runs, it is rare to see more than 10 cars out front when it is open, which is for few hours each evening, no idea how it makes it). Horizon Casino went out of business (since reopened as Hard Rock) and so went the Stateline Regal theater.
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Re: Regal Cinemas parent Cineworld to file for bankruptcy

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CinemaWest is a decent regional chain. However, they are somewhat shaky financially. They are not participating in the $3 movie ticket day on September 3 at some of their theaters. The Veranda Luxe theater near me in Concord, California is owned by CinemaWest. They are charging full price: $13.

CinemaWest took over many poorly performing theaters abandoned by big chains. They will save a theater even if it makes less of a profit. It was nice of them to save the art deco historic Rheem Theatre in Moraga, California. It makes a profit, but not tons of profit like Regal demands.
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Re: Regal Cinemas parent Cineworld to file for bankruptcy

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These medium market cinemas have been limping along for years. In Minden, NV there is a late 90's build 8 screen stadium theater. This is actually a quite nice theater; when it opened it was really outstanding. It hasn't been updated much over the years. It has had multiple owners. It may have gone in and out of a small chain or two but mostly independent owners. Back during the switch to digital it almost closed but the owner at the time decided to put out the money to do the upgrade. At one point it went bankrupt, I think that was before the digital thing. I had heard it was going to close again earlier this year, and the space was being marketed for lease, but then it got new ownership earlier this year that is trying to keep it going. I think the new ownership is still private ownership and not a small chain.

There are some privately owned 1-2 screen cinemas around Lake Tahoe also. I think a few of them may be connected to whoever owns North Carson Stadium (Incline Village theater and Northstar theater; I think they also had a Kings Beach cinema that has closed).

There seem to be a steady stream of small groups/individuals who will take movie theaters over and try to operate them. I wonder if anyone ever makes much money. This seems like a terrible business for the theater operator from the best I can tell, at least in terms of making money.
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Re: Regal Cinemas parent Cineworld to file for bankruptcy

Post by Brian Lutz »

Another notable example is the Seattle Cinerama, one of only three theaters capable of showing three-screen Cinerama films in the world. It was for many years owned by Paul Allen and operated by AMC, but largely run as a passion project (under the same division of Vulcan that ran the EMP/MoPOP museum). When Paul Allen died his estate was far less inclined to spend money on these types of things, and the Cinerama shut down in February 2020 for a planned renovation, but 3 months into the Pandemic it was announced that the Cinerama would be closing indefinitely. The building is still standing, but it is unclear if the theater will ever reopen. For many years the Cinerama was the place to go for all the big movie premieres in Seattle, and one of only a handful of single-screen theaters remaining in the area.
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Re: Regal Cinemas parent Cineworld to file for bankruptcy

Post by SamSpade »

Brian Lutz wrote: August 30th, 2022, 7:57 am and operated by AMC. . . The building is still standing, but it is unclear if the theater will ever reopen. For many years the Cinerama was the place to go for all the big movie premieres in Seattle, and one of only a handful of single-screen theaters remaining in the area.
Off Topic
After Vulcan severed their relationship with AMC, it was operated for a time by the owner-operator of the Portland Roseway. Unfortunately the Roseway was just lost to an electrical fire and I suspect with all the sour news around cinemas, will not be reopened/rebuilt. But there are several smaller operators scattered around Portland, Oregon, and southwest Washington so never say never.

I really miss the Cinerama. I had been in there to set up for one of Seattle's many film festivals. The auditorium was magical, even then (about a decade ago). The concessions after Greg Wood took over included chocolate popcorn, Cupcake Royale cupcakes, Theo chocolates, and Caffe Vita coffee. WAY fancier than the Roseway. :)
Greg Wood Takes Over After 2010 Renovation
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Re: Regal Cinemas parent Cineworld to file for bankruptcy

Post by SamSpade »

Apparently Cineworld has formally filed its Chapter 11 proceedings and the closures / lease cancellations are beginning.
https://www.wweek.com/movies/2022/09/14 ... creenings/
Memorializing, outlining the history of the Regal Sherwood multiplex in the Portland metro area. Perhaps this was Andi's first theater in her life as I can't imagine most alt weekly reporters doing this much work and discovering a far-flung multiplex closed.
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Re: Regal Cinemas parent Cineworld to file for bankruptcy

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Regal Sherwood was originally planned by Act III Theatres. That small chain was a very good local chain that built high quality movie theaters with THX. Regal took over that chain in 1998, but allowed this theater to be built using the high quality Act III design. It is a sad thing to see a high quality theater of such design to close.

Perhaps an independent operator can reopen this theater. The new dine in movie theaters with luxury recliners are very popular these days.

Movie theaters bring tons of business to nearby stores and restaurants. With the loss of the theater many of the nearby businesses could close as well. This could be a huge blighted area soon.
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Re: Regal Cinemas parent Cineworld to file for bankruptcy

Post by norcalriteaidclerk »

SamSpade wrote:Apparently Cineworld has formally filed its Chapter 11 proceedings and the closures / lease cancellations are beginning.
https://www.wweek.com/movies/2022/09/14 ... creenings/
Memorializing, outlining the history of the Regal Sherwood multiplex in the Portland metro area. Perhaps this was Andi's first theater in her life as I can't imagine most alt weekly reporters doing this much work and discovering a far-flung multiplex closed.
No Sacramento closures yet but apparently four locations to the south(one in Fresno and three SoCal ones)will close soon.

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