COLUMBUS, Ga. & MONTGOMERY, Ala. -- (Business Wire)
Carmike
Cinemas, Inc. (NASDAQ: CKEC), a leading entertainment, digital
cinema and 3-D motion picture exhibitor, today announced the signing of
a build-to-suit agreement and long-term lease with Anthony
Properties (Anthony), a leading real estate development and
investment firm. Anthony is constructing a new 13-screen digital cinema
entertainment complex that Carmike will operate. The new facility is
projected to open during the first half of 2014 and will be centrally
located off Chantilly Parkway (Route 110) in Montgomery, AL next to the
Home Depot.
Jay Anthony, Principal of Dallas, TX-based Anthony Properties,
developers of the project, stated, “The top-tier retail, restaurant and
commercial tenants in the area and proximity to Auburn University’s
Montgomery Campus make this an ideal site for another Carmike Cinemas
state-of-the-art theatre. Over the past 25 years we have developed
40-plus properties for Carmike and are delighted to work with them on
what we believe is another exceptional location in their growing
footprint.”
The new 13-plex theatre will feature luxurious stadium seating for up to
2,800 guests in aggregate. The theatre will also showcase a cutting-edge
“BIGD” large format auditorium, Carmike’s critically acclaimed premium
theatre experience with a wall-to-wall and floor-to-ceiling 81-foot wide
screen, comfortable high back rocking luxury seats, retractable
armrests, convenient cup holders and seating for 600 patrons. The other
12 auditoriums will be equipped with large, wall-to-wall screens, as
well as high-quality DLP DIGITAL projection and surround sound. Other
components of the new theatre will include an upscale lobby, multiple
concession areas featuring Coca-Cola Freestyle drink centers, and
one-stop ticketing and concessions stations for the convenience of all
guests.
Carmike Cinemas President and Chief Executive Officer David Passman
stated, “Carmike continues actively expanding our growing circuit, on
our way to 300 theatres and 3,000 screens through opportunistic,
accretive acquisitions and the addition of multiple new-build theatres
in promising locations across ‘Hometown America.’ Alabama has become of
one of our top-five states, with 13 theatres at year-end, including six
properties we recently acquired from Rave Review Cinemas last November.
In addition to the Montgomery entertainment complex, we have another
theatre under construction in the Decatur, AL market and will soon begin
construction in Opelika, AL.”
About Carmike Cinemas (www.carmike.com)
Carmike Cinemas, Inc. is a U.S. leader in digital cinema and 3-D cinema
deployments and one of the nation’s largest motion picture exhibitors.
As of September 30, 2012, Carmike had 232 theatres with 2,242 screens in
35 states. Carmike’s digital cinema footprint reached 2,119 screens,
including 208 theatres with 748 screens that are also equipped for 3-D.
The circuit also includes 14 “Big D” large format digital experience
auditoriums, featuring state-of-the-art equipment and luxurious seating.
As “America’s Hometown Theatre Chain,” Carmike’s primary focus for its
locations is small to mid-sized communities.
Disclosure Regarding Forward-Looking Statements
This press release contains forward-looking statements within the
meaning of the federal securities laws. Statements that are not
historical facts, including statements about our beliefs, expectations
and future performance, are forward-looking statements. Forward-looking
statements include statements preceded by, followed by or that include
the words, “believes,” “expects,” “anticipates,” “plans,” “estimates,”
“seeks” or similar expressions. Examples of forward-looking statements
in this press release include the Company’s expectations regarding
circuit expansion, additional acquisition opportunities, long-term
stakeholder value, and additional operating gains, and beliefs about
liquidity and financial flexibility. Forward-looking statements are only
predictions and are not guarantees of performance. These statements are
based on beliefs and assumptions of management, which in turn are based
on currently available information. The forward-looking statements also
involve risks and uncertainties, which could cause actual results to
differ materially from those contained in any forward-looking statement.
Many of these factors are beyond our ability to control or predict.
Important factors that could cause actual results to differ materially
from those contained in any forward-looking statement include, but are
not limited to: general economic conditions in our regional and national
markets; our ability to comply with covenants contained in our senior
secured credit agreement and the indenture governing our 7.375% Senior
Secured Notes due 2019; our ability to operate at expected levels of
cash flow; financial market conditions including, but not limited to,
changes in interest rates and the availability and cost of capital; our
ability to meet our contractual obligations, including all outstanding
financing commitments; the availability of suitable motion pictures for
exhibition in our markets; competition in our markets; competition with
other forms of entertainment; and other factors, including the risk
factors disclosed in our Annual Report on Form 10-K for the year ended
December 31, 2011 and our Quarterly Report on Form 10-Q for the quarter
ended March 31, under the caption “Risk Factors.” We believe these
forward-looking statements are reasonable; however, undue reliance
should not be placed on any forward-looking statements, which are based
on current expectations. Further, forward-looking statements speak only
as of the date they are made, and we undertake no obligation to update
publicly any of them in light of new information or future events.
Contacts:
JCIR – Investor Relations/Corporate Communications
Robert Rinderman
or Jennifer Neuman
212-835-8500 or ckec@jcir.com
or
Carmike
Cinemas, Inc.
Richard B. Hare, 706-576-3416
Chief Financial
Officer
Source: Carmike Cinemas, Inc.
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