Regal Entertainment gets ‘Iron Man’ boost

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Blockbuster film “Iron Man 3” is giving Regal Entertainment
Group a major boost following the movie theater operator’s rather drab first
quarter.

The super hero flick starring Robert Downey Jr. produced opening
weekend ticket sales of $174.1 million in the U.S. and Canada, second largest
of all time.

In the first 12 days of release, the movie has delivered a
monster box office of $678.9 million worldwide, according to Hollywood.com.

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Those numbers should bode well for Knoxville-based Regal’s
second quarter earnings report, especially given the slate of summer movies
soon to be released.

Regal reported last week that first-quarter earnings plunged
nearly 52 percent from the 2012 first quarter and total revenues were down more
than 6 percent.

The drop off was expected since last year’s first-quarter movie
lineup was much stronger than this year’s offerings.

Nonetheless, Regal has to be glad to see “Iron Man 3” producing
as expected.

The second-quarter box office bump is expected to continue
with the opening next week of “Star Trek Into Darkness” followed by “The Great
Gatsby”, “Man of Steel” and other highly anticipated summer movies.

Personally, I’m looking forward to the Gatsby remake. My wife, Cheryl, and I watched the 1974 Robert Redford version a few days ago to get ready. Great movie. Be interesting to see how Leonardo Di Caprio stacks up.

Photo: This undated publicity photo released by Marvel shows Robert Downey Jr. as Tony Stark/ Iron Man in a scene from Marvel’s “Iron Man 3.”(AP Photo/Marvel, Zade Rosenthal)

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