Regal announced today that the company has entered into a long-term lease agreement with AEG at L.A. Live, the downtown Los Angeles sports and entertainment district, to continue operating the 14-screen Regal L.A. Live theatre which has been operated by Regal since 2009. The initial management agreement for the location officially ended with the start of the lease agreement on February 2.
"Since Regal L.A. Live's 2009 opening, we have proudly managed this state-of-the-art theatre," said Mooky Greidinger, CEO of Cineworld, parent company of Regal. "In collaboration with our partners at AEG, we are excited to continue this relationship by entering into this long-term lease agreement, which will continue to welcome moviegoers to this premier entertainment destination for many years to come."
"L.A. Live is the popular and one-of-a-kind destination in downtown Los Angeles that attracts guests of all ages looking for a single location offering multiple venues that cater to every entertainment interest," said Richard Gutierrez, senior director of business operations at AEG. "The new agreement between AEG and Regal cements our shared commitment to L.A. Live's long-term success by providing a state-of-the-art theatre for moviegoers all across the area."