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Regal Raises $250 Million To Upgrade Theaters
Big exhibitor Regal raised $250 from investors and real estate partners to improve and digitally enhance its theaters as the box office rebounds.
AaronP/Bauer-Griffin/GC Images Knoxville, Tenn.-based Regal, said it’s completed a $250 million capital raise to improve and digitally enhance its theaters as the box office rebounds. The upbeat news comes as Regal’s parent Cineworld, which emerged from bankruptcy last summer, is facing the tough decision of selling theaters in its UK home market. The capital raise, which was offered to Regal’s current shareholders and well subscribed, will also be used to upgrade the exhibitor’s digital channels including its website and app.
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