COLUMBUS, Ga.--(BUSINESS WIRE)--
Carmike Cinemas, Inc. (NASDAQ: CKEC), a leading DIGITAL cinema and 3D
motion picture exhibitor, today announced that it has launched a new
relationship with Entertainment Properties Trust (NYSE: EPR), a leader
in the real estate investment trust (REIT) industry, with specialties in
the entertainment, education and recreation markets. Carmike and
Entertainment Properties Trust recently entered into a build-to-suit
arrangement to construct a new 13-plex theatre in the Champaign, IL
market.
The Carmike 13 will be built at the same location as the Beverly 18 and
will feature seating for over 2,800 guests. The plans include an
auditorium featuring Carmike’s state-of-the-art “BIGD” DIGITAL
Experience, its acclaimed premium theatre environment. The new facility
will be equipped with stadium-style seating, comfortable high back
rocking luxury seats, retractable armrests and convenient cup holders.
The entertainment complex will also contain wall-to-wall screens, plus
cutting-edge DLP DIGITAL projection and DIGITAL sound. The new theatre
will have an upscale lobby and multiple concession areas featuring
Coca-Cola Freestyle drink centers. One-stop ticketing and concessions
stations are also a unique design feature of the Carmike 13. Patrons
will be able to escape the elements and purchase their tickets and
favorite concessions on the same line, allowing them to quickly proceed
to their comfortable seats. Carmike’s Beverly 18 will continue to serve
the Champaign area during development of the new entertainment complex.
“We are already achieving significant progress toward meeting our 2012
full-year investment spending guidance and are truly delighted to
include Carmike’s forthcoming Champaign, IL 13-plex as one of three new
enhanced experience build-to-suit agreements,” stated Entertainment
Properties President and CEO David Brain. “Carmike has done a good job
of positioning their organization to take advantage of organic and M&A
opportunities and we hope to play an increasing role in their future
growth plans.”
Carmike President and CEO David Passman stated, “We are very pleased to
forge this new relationship with the Entertainment Properties Trust team
for our recently announced Carmike 13 entertainment complex in
Champaign, IL. As we have stated in recent months, Carmike is
transitioning to a growth mode, focused on further expanding our circuit
and geographical footprint in both existing and new markets. We are also
actively seeking accretive acquisition opportunities.”
About Entertainment Properties Trust
Entertainment Properties Trust (NYSE:EPR
- News)
is a specialty real estate investment trust (REIT) that invests in
properties in select categories which require unique industry knowledge,
while offering the potential for stable and attractive returns. As of
December 31, 2011, our total investments were approximately $3.0 billion
and include megaplex movie theatres and adjacent retail, public charter
schools and other destination recreational and specialty investments. We
adhere to rigorous underwriting and investing criteria, centered on key
industry and property level cash flow standards. We believe our focused
niche approach provides a competitive advantage, and the potential for
higher growth and better yields. Further information is available at www.eprkc.com
or from Brian Moriarty at 888-EPR-REIT.
About Carmike Cinemas (NASDAQ: CKEC) - 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 December 31, 2011, Carmike had 237 theatres with 2,254 screens in
35 states. Carmike’s digital cinema footprint reached 2,128 screens,
including 210 theatres with 744 screens that are also equipped for 3-D.
Carmike’s focus for its theatre locations is small to mid-sized
communities.
Jaffoni& Collins – Investor Relations
Robert Rinderman or
Joseph Jaffoni
212/835-8500 or ckec@jcir.com
or
Carmike
Cinemas, Inc.
Richard B. Hare
Chief Financial Officer
706/576-3416
Source: Carmike Cinemas, Inc.