Movie theater attendance was down last year and 2012 expectations are uncertain. Even so, a writer for the investment website Investopedia says today it’s a good time to own Regal Entertainment Group stock.
Taking a less rosy outlook on the Knoxville-based movie theater operator are a pair of financial research firms that on Tuesday downgraded Regal stock and lowered their price estimates.
Movie theater operator Regal Entertainment Group is pumping more money into large-screen theaters. The Knoxville-based company said two new IMAX theaters will open this month and two in December — just in time for the all important holiday movie season.
New IMAX locations in Los Angeles and Washington, D.C., will open in November, followed by locations in Atlanta and St Louis in December.
The announcement comes just a few weeks after Regal announced that it had expanded its agreement with Imax Corp. to add another 16 to 25 large-screen theaters around the country.