AMC Entertainment Holdings Inc (NYSE:AMC) shares are trading higher by 7.4% at $19.06 Tuesday afternoon.
The company earlier announced it has reached a lease agreement with GW Properties to acquire and open AMC Evanston 12 in the Chicago area.
AMC says the company remains in active discussions with other property owners regarding additional currently closed locations.
Upon reopening, guests at AMC Evanston 12 can expect many of AMC's most popular amenities, including AMC Stubs, a world class loyalty and subscription service that includes AMC Stubs A-List, as well as a MacGuffins bar. Formally Evanston 18, six of the screens and restaurant space are being closed by GW Properties and renovated for non-theatre use.
Mitch Goltz, Principal and Co-Founder of GW Properties, commented: "We are excited to welcome AMC Theatres into this important project in the heart of Evanston and bring patrons back to the theatres who have eagerly been awaiting its return to the community."
AMC has a 52-week high of $72.62 and a 52-week low of $5.32.
