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.
Media Contacts
Richard M.
Grover
Head of Marketing
Regal
(865) 925-9539
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SOURCE Regal