In accordance with the Latest Government Guidance, the Company’s Theatres Will Temporarily Close
Marcus Theatres®, a division of The Marcus Corporation (NYSE:MCS), is temporarily closing its theatres starting today with the last showtime at 8:30 p.m. This decision is in alignment with the latest direction from the preeminent national health care experts who urged Americans to avoid crowds due to the coronavirus pandemic.
“At Marcus Theatres and Movie Tavern, the safety and well-being of guests and associates remains our top priority,” said Rolando Rodriguez, chairman, president and CEO of Marcus Theatres. “We’ve had many precautions in place that were guided by best practices from the Centers for Disease Control (CDC), state and local authorities. Now the guidance is clear that temporarily closing is the right thing to do. It’s important that we help our nation’s preventive efforts with this outbreak for the benefit of our guests, associates and the communities in which we do business.”
During this temporary closure, the company will not expire points and rewards earned through its Magical Movie Rewards (MMR) loyalty program. Upon reopening theatres, MMR members will pick up right where they left off. In addition, compensation and benefits support will be provided to many of its 6,500 associates.
“This year our company celebrates its 85th anniversary in the movie theatre business,” added Rodriguez. “When the timing is right, we look forward to welcoming back our guests to enjoy the social experience of moviegoing together – the way movies are meant to be seen.”
For more updates, check the Marcus Theatres app or website at www.marcustheatres.com.
About Marcus Theatres
Marcus Theatres®, a division of The Marcus Corporation, is the fourth largest theatre circuit in the United States and currently owns or operates 1,110 screens at 91 locations in 17 states under the Marcus Theatres, Movie Tavern® by Marcus and BistroPlex® brands. For more information, please visit www.MarcusTheatres.com and follow the company on Facebook and Twitter (@Marcus_Theatres).
About The Marcus Corporation
Headquartered in Milwaukee, The Marcus Corporation is a leader in the lodging and entertainment industries, with significant company-owned real estate assets. In addition to its Marcus Theatres division, its lodging division, Marcus®Hotels & Resorts, owns and/or manages 20 hotels, resorts and other properties in eight states. For more information, please visit the company’s website at www.marcuscorp.com.
Certain matters discussed in this press release are “forward-looking statements” intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. These forward-looking statements may generally be identified as such because the context of such statements include words such as we “believe,” “anticipate,” “expect” or words of similar import. Similarly, statements that describe our future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties which may cause results to differ materially from those expected, including, but not limited to, the following: (1) the availability, in terms of both quantity and audience appeal, of motion pictures for our theatre division, as well as other industry dynamics such as the maintenance of a suitable window between the date such motion pictures are released in theatres and the date they are released to other distribution channels; (2) the effects of adverse economic conditions in our markets, particularly with respect to our hotels and resorts division; (3) the effects on our occupancy and room rates of the relative industry supply of available rooms at comparable lodging facilities in our markets; (4) the effects of competitive conditions in our markets; (5) our ability to achieve expected benefits and performance from our strategic initiatives and acquisitions; (6) the effects of increasing depreciation expenses, reduced operating profits during major property renovations, impairment losses, and preopening and start-up costs due to the capital intensive nature of our businesses; (7) the effects of weather conditions, particularly during the winter in the Midwest and in our other markets; (8) our ability to identify properties to acquire, develop and/or manage and the continuing availability of funds for such development; (9) the adverse impact on business and consumer spending on travel, leisure and entertainment resulting from terrorist attacks in the United States, other incidents of violence in public venues such as hotels and movie theatres or epidemics (such as the Coronavirus, SARs, bird flu and swine flu); (10) a disruption in our business and reputational and economic risks associated with civil securities claims brought by shareholders; (11) our ability to timely and successfully integrate the Movie Tavern operations into our own circuit; and (12) our ability to achieve the additional revenues and operating income that we anticipate from our additional week of operations in fiscal 2020 and certain extraordinary events that will take place in or near Milwaukee during fiscal 2020, such as the Democratic National Convention and The Ryder Cup. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating the forward-looking statements and are cautioned not to place undue reliance on such forward-looking statements. The forward-looking statements made herein are made only as of the date of this press release and we undertake no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
View source version on businesswire.com: https://www.businesswire.com/news/home/20200317005703/en/
Investors: Douglas A Neis, The Marcus Corporation
Media: Mari Randa, Marcus Theatres
Source: The Marcus Corporation