Golden Star Theaters to Acquire Regal Austintown
AUSTINTOWN – Golden Star Theaters is taking over the multiplex known as Regal Austintown Plaza and will give it an extensive renovation.
The 10-screen theater’s final day of showing movies under the umbrella of the nationwide Regal Cinemas chain will be Dec. 12. After that, the venue will be dark for about 90 days for renovations before reopening as part of the Golden Star chain, said Frank Moses, owner and president of the New Castle, Pa.-based company.
Golden Star is a regional company that operates five other theaters: Shenango Valley Cinemas and Cinema 8 in Hermitage, Pa.; Westgate Cinema in New Castle, Pa.; Century Square Luxury Cinemas in the Pittsburgh suburb of West Mifflin, Pa.; and Country Club Mall Cinemas in LaVale, Md.
Dan DeSalvo of P&S Equities Inc., who handles development and leasing at Austintown Plaza, said the theater will become “the most modern and up-to-date of any in the region” after its renovation. Renovations – including a new refreshment stand, upgraded seating and other amenities – will provide “a first-class viewing experience,” Moses said in a news release.
Golden Star Cinemas was started by the Moses family of New Castle, Pa., more than 30 years ago.
“Western Pennsylvania has always been our home and we’re excited to expand into Ohio, allowing us continued growth and loyalty to customers,” said Moses who thanked the Austintown trustees for their support in the move.
Golden Star’s Shenango Valley Cinemas is a 12-screen facility that routinely devotes a screen or two to independent and lesser-known films, while Cinema 8 is a second-run theater. Moses said indie movies could be screened at Austintown, but it depends on industry regulations and other conditions.
The Austintown property is part of the Austintown Plaza complex, at 6020 Mahoning Ave., near Walmart.
The decision to go with a different theater operator was made by landlord P&S Equities Inc. Regal’s lease at the theater expires on Dec. 31, and P&S decided to not renew it.
“As developers and landlords, we’re always looking for tenants who want to partner with us both through investing in their business presentation as well as relating to our community,” explained P&S’ DeSalvo. “Sometimes a smaller, locally owned business with a hands-on approach has the edge over the larger concerns. This is certainly not to say Regal hasn’t done a good job over the years. We’ve enjoyed an excellent relationship with them for the past 20 years.”
Regal Cinemas, based in Knoxville, Tenn., is the nation’s second largest movie theater chain, and is owned by British company Cineworld.
Copyright 2024 The Business Journal, Youngstown, Ohio.
