Regal Entertainment Group Completes Acquisition of Warren Theatres
KNOXVILLE, Tenn.–(BUSINESS WIRE)– Regal Entertainment Group, a leading motion picture exhibitor owning and operating one of the largest theatre circuits in the United States, today announced that it has completed the acquisition of seven existing Warren Theatres in Kansas and Oklahoma. Regal continues to raise the bar by investing in local markets and providing luxury amenities that enhance the movie going experience.
The transaction will add a total of seven theatres with 93 screens to Regal’s portfolio, including the Warren 14/IMAX in Moore, Oklahoma – the 17th highest grossing theater in the United States in 2016.
“Warren Theatres have become the market leader in both Wichita and Oklahoma City by providing superior customer service and a myriad of upscale amenities, including reclining seats, large format screens and a wide array of food and beverage options,” stated Amy Miles, CEO of Regal Entertainment Group. “We are honored and excited to add these high-quality assets to our circuit and expect the transaction to be immediately accretive to our earnings and cash flow.”
President of Warren Theatres, Bill Warren, has considered past offers, but chose to go forward with the Regal proposal, stating: “I know our movie-going guests and our 1,400 cast members will be in great hands with Regal. I have long been impressed with Regal’s high standards of quality showmanship and outstanding customer service.”
This addition to Regal’s theatre circuit is a great strategic fit. Regal is continuously seeking new and innovative ideas to enhance the guest experience. Luxurious King-Size Recliners, immersive technology, expanded food menus, and industry leading loyalty program Regal Crown Club are a few of the many ways Regal seeks to provide our guests an opportunity to enjoy the movies.