AMC Plans to Have 520 of 600 Locations Open by Mid-October - TheStreet

AMC Plans to Have 520 of 600 Locations Open by Mid-October

AMC said that 14 theaters in Washington state will begin operating Oct. 16 and 87% of its locations would then be open.
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AMC Entertainment  (AMC) - Get Report said Thursday that it would have open more than 520, or 87%, of its 600 locations by the middle of the month as the world's biggest movie-theater chain looks to recover from the coronavirus pandemic shutdown.

Shares of AMC, Leawood, Kan., at last check were 2.5% higher at $4.14.

The coronavirus outbreak forced theaters to close their dues to comply with social distancing and quarantine requirements. Those rules were enacted to slow the spread of the potentially fatal disease.

AMC said that 14 locations in Washington state would begin operating on Oct. 16. "With this reopening in the Pacific Northwest," AMC is "encouraged that we will now have an AMC theatre open in 43 of the 45 states that AMC serves," Chief Executive Adam Aron said in a statement. 

AMC recently said it would reopen in California, Michigan and North Carolina. And the company will open more than 50 locations in the first three weeks of October. 

The chain said it and local authorities were continuing to discuss resuming operations in areas where theaters are not yet able to open.

"AMC will reopen its remaining theaters once authorized to do so by state and local officials," the company said.

Upcoming titles include "The War With Grandpa," starring Robert DeNiro, and "Yellow Rose," which opens this weekend. 

AMC said Tuesday that it will keep most of its global theaters operating, and plans to increase openings in New York and California, ahead of key movie releases in the final months of the year.

The company said some 80% of its U.S. theaters remain open, with a higher percentage in Europe under its Oden Cinemas Group brand.

AMC's announcement comes just after Cineworld Group’s CNWGY Regal Entertainment Holdings said it would temporarily shutter its U.S. and U.K. operations following disappointing summer receipts and the delay of the next James Bond epic.