Carmike Cinemas, Inc. (NASDAQ: CKEC), a leading entertainment, digital cinema and 3-D motion picture exhibitor, today announced a further expansion of its presence in Traverse City, MI with the planned construction of a brand new Carmike Cinemas 14-plex, which will replace its Horizon 10-screen location at 3587 Market Place Circle. Construction is expected to commence once all required permits are received from Garfield Township and the State of Michigan. The first local planning commission hearing is scheduled for January 8 and Carmike is hopeful that it will receive the requisite approvals and commence construction shortly thereafter.
The new theatre will be furnished with 14 digital screens and have total seating capacity for more than 3,000 guests. The BigD, Carmike’s own premium large screen format experience auditorium, will seat more than 500 patrons. The critically acclaimed BigD is part of the cutting-edge entertainment complex, which will also be equipped with stadium seating in all auditoriums, comfortable high-back rocking luxury seats, retractable armrests and convenient cup holders. The Carmike 14 will also contain large, wall-to-wall screens, DLP digital projection and digital sound in all auditoriums.
The facility’s upscale lobby will contain multiple concession areas featuring self-serve Coca-Cola Freestyle drink centers, which pour more than 100 customized fountain drink varieties. One-stop ticketing will also be included in the lobby area so cinemagoers will be able to escape the elements and purchase their tickets and favorite concessions in the same, fast-moving indoor line and quickly move to their comfortable seats. The new complex also provides special services for visually and hearing impaired patrons.
Carmike President and CEO David Passman: “We are looking forward to further expanding our presence in Traverse City, which has proven to be a very good market for Carmike. We are very excited to bring this exceptional entertainment complex to the community and provide our valued guests from across the region with the ultimate in cinema-going entertainment. Our new theatre will feature large format digital presentation, bigger screens, better sound, and plush seating for the definitive enjoyment of all audiences. We currently have 22 BigD auditoriums throughout the country, following the recent debut of our newest addition in Colorado Springs late last year. Traverse City will soon join this select, but growing list of ‘Hometown America’ communities offering Carmike theatregoers BigD’s uniquely immersive, large screen presentation.”
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts