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The Durango Stadium 9 and Gaslight Twin Cinema in Durango, Colorado have been purchased by Allen Theatres, according to an article published earlier this month in The Daily Times out of Farmington, New Mexico. The theaters were owned previously by Storyteller Theatres Corporation, which is run by Marwit Capital, and based in Portland, Oregon.
Allen Theatres, a 100-year-old local company, recently purchased Durango, Colo.'s two mainstream movie theaters.
Allen Theatres has reduced prices and instituted technological improvements since taking over Durango Stadium 9 and Gaslight Twin Cinema, said Nathan Allen, the company's vice president of finance.
Allen Theatres has had an eye on the Durango properties for many years and placed an unsuccessful bid on them several years ago, Allen said.
"We've had an interest in Durango for quite some time," he said. "Durango's a great location; just the real estate in Durango is great to have."
Allen Theatres now has 16 locations in Colorado and New Mexico. Storyteller Theatres is now down to just two locations, one in Arizona and one in New Mexico, after selling two locations in New Mexico.
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