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Enhancements Coming to Regal Movie Theaters

Posted on Wednesday, July 10, 2024 3:22 PM


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The owner of Regal, Edwards Theatres, and UA-branded movie theaters has announced that it will be upgrading many of its movie theaters.

According to a press release issued recently by Regal, it has completed a $250 million capital campaign intended to "improve and digitally enhance" its movie theaters. The press release (see below) specifically mentions new luxury recliner seating, which has become the standard for any new movie theaters opening in the last several years. Construction has begun at 30 locations, which will be completed in 2025.

Regal is owned by Cineworld, which operates more than 400 locations in 41 states, Washington D.C., and Guam. Cineworld suffered a major setback in September 2022 when it filed for bankruptcy protection and has closed many locations since. Here's hoping that the surviving locations will offer the best moviegoing experience possible!

Press Release

Regal announces successful completion of $250 million capital raise to fuel growth and investment

KNOXVILLE, Tenn., July 9, 2024 /PRNewswire/ -- Regal (the "Company") announced today that it has successfully completed a $250 million capital raise. With this investment, Regal is well positioned for accelerated growth through improvements to existing assets, and digital enhancements to the moviegoing experience.

"Regal has been executing on its business plan with results through the first quarter that exceeded our expectations providing one of the strongest balance sheets in the business," stated Thomas Song, Chief Financial Officer for Regal. "As we invest in providing the best moviegoing experience, our customers will enjoy in-theatre improvements coupled with a very compelling movie slate through the end of the year."

Song continued, "With the strong support from our existing investors and real estate partners, Regal is well positioned to invest in growth opportunities with highly accretive investments including brand-new luxury recliners in the United States and digital enhancements for our loyal customers. As we identify theatres for these improvements, we encourage our landlords to also reach out with interest for their respective locations."

The capital raise will be used to upgrade existing Regal theatres in concert with respective real estate partners, including investments in luxury recliners and additional improvements to the moviegoing experience through upgrades to Regal's digital channels including the website and app. Construction has been initiated with over 30 locations completed during 2025.

About Regal

Regal operates one of the largest and most geographically diverse theatre circuits in the United States, consisting of 5,774 screens in 425 theatres in 41 states along with the District of Columbia and Guam as of June 30, 2024. We believe that the size, reach and quality of the company's theatre circuit provides its patrons with a convenient and enjoyable moviegoing experience. Additional information is available online at REGmovies.com.



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