Pacific Theatres may be closing 300 screens in California, but two of the chain’s biggest multiplexes at the Grove and the Americana in Los Angeles won’t be shutting their doors for good, according to the malls’ billionaire owner Rick Caruso.
“There is no doubt in my mind that the theaters will reopen,” Caruso told Bloomberg about the two locations. “Whether we, Caruso, gets in the theater business or we re-lease the properties is being studied by our team.”
According to data obtained by TheWrap, the 14-screen Pacific Grove and the 18-screen Pacific Glendale at the Americana grossed a combined $23.8 million in ticket revenue in 2019.
While that was a 27.5% decrease from the $32.8 million combined gross the previous year, the two locations still ranked among the top 20 highest grossing theaters in the Los Angeles market area prior to the Covid-19 pandemic.
Combined with the Pacific Winnetka and the Hollywood and Sherman...
“There is no doubt in my mind that the theaters will reopen,” Caruso told Bloomberg about the two locations. “Whether we, Caruso, gets in the theater business or we re-lease the properties is being studied by our team.”
According to data obtained by TheWrap, the 14-screen Pacific Grove and the 18-screen Pacific Glendale at the Americana grossed a combined $23.8 million in ticket revenue in 2019.
While that was a 27.5% decrease from the $32.8 million combined gross the previous year, the two locations still ranked among the top 20 highest grossing theaters in the Los Angeles market area prior to the Covid-19 pandemic.
Combined with the Pacific Winnetka and the Hollywood and Sherman...
- 4/18/2021
- by Jeremy Fuster
- The Wrap
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