Hurricane Matthew Forces Closing of South Florida Cinemas
A majority of cinemas in the Miami area will be closed Thursday night, while theaters along the coastal area south of the city may be shuttered all day.
Numerous theaters in South Florida including in Miami will be closed Thursday because of Hurricane Matthew, the strongest storm to threaten the area in years.
Tropical storm-force winds are expected to strike Palm Beach and Broward counties Thursday morning, with the Eye of Storm coming closest to land Thursday night.
AMC (NYSE:AMC) and Regal (NYSE:RGC), 2 of the largest theater chains in the country, operate numerous locations in the Miami area.
AMC Indian River 24, located in West Palm Beach, will be closed all day Thursday. AMC’s 7 Miami theaters will begin closing in the afternoon and remain shuttered throughout the night.
Some cinemas in Jacksonville also will be closed Thursday night. Theaters in Charleston, SC, also will be dark because of mandatory evacuations.
Theater owners will make a decision about Friday once they have a better sense of Hurricane Matthew’s intensity.
Neither exhibitors nor Hollywood studios are ready to predict how much the weekend box office will be impacted by Matthew, since it depends on whether theaters in South Florida and other coastal cities are able to reopen Friday.
|NYSE:AMC||31.94||5 October 2016||0.31||31.81||32.1||31.63||180,800|
|HeffX-LTN Analysis for AMG:||Overall||Short||Intermediate||Long|
|Bullish (0.28)||Neutral (-0.02)||Bullish (0.46)||Bullish (0.40)|
|NYSE:RGC||21.83||5 October 2016||0.29||21.68||21.88||21.6||2,224,800|
|HeffX-LTN Analysis for RGC:||Overall||Short||Intermediate||Long|
|Neutral (0.22)||Neutral (0.21)||Bullish (0.25)||Neutral (0.20)|
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