Carmike Cinemas Signs Agreement to Open 12-Plex in Opelika, Alabama

on August 14, 2009
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COLUMBUS, Ga.-- Carmike Cinemas, Inc. (NASDAQ: CKEC), a leading digital cinema and 3D motion picture exhibitor, today announced that it has signed a definitive agreement with Stephen Benson, Principal of Blackrock, LLC, to build a 12-screen theatre with 2,600 seats to be located in the Capps Landing development in Opelika, AL. The build-to-suit arrangement features a new Carmike state-of-the-art, digital entertainment complex at the intersection of Interstate 85 and U.S. Highway 280, across from Tiger Town, East Alabama's largest retail center.

Tiger Town is a 160-acre development featuring 800,000 square feet of retail space, and combined with Capps Landing, offers free-standing restaurants, offices, hotels and banks. Carmike's other theatre in the region - the Wynnsong 16 at 2111 East University Avenue in Auburn - will remain open following the completion of the new, 12-screen theatre. The new theatre will also serve the nearby Auburn University community, which is home to approximately 24,000 students.

Carmike President and CEO David Passman, stated, "We are grateful for the support of the community of Opelika, Mayor Fuller and local officials for their efforts as we bring a state-of-the-art entertainment complex to the Tiger Town area. Our new theatre complex will bring the best in Hollywood entertainment and the most advanced digital and 3D exhibition technology to East Alabama and will create new jobs both through construction and employment upon its opening, targeted for next Fall."

Tags: carmike cinemas, digital cinema
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