AMC Buys Theaters in Saratoga, Connecticut

AMC Theatres, operator of the largest movie theatre chain in the world, has 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, MD. 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.

Adam Aron, Chairman and CEO of AMC, said: “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.”

AMC operates 950 theatres worldwide with 10,500 movie screens.