New developments have emerged regarding the Kerasotes Theatres circuit. Reports from distribution sources have confirmed that four of their Showplace Icon theaters will be closing immediately, totaling 51 screens. These locations are situated in Chicago (South Loop), St. Louis Park (suburban Minneapolis), Mountain View, California; and San Jose, California (Valley Fair Mall).
Just a week and a half ago, Kerasotes announced the sale of their Secaucus, New Jersey theater location to Regal Theaters. Meanwhile, the Boston Seaport District location closed its doors in March. The St. Louis Park theater is reportedly being taken over by Marcus Theatres based in Milwaukee, the fourth largest chain nationally, and will soon reopen. However, the future of other locations remains uncertain as landlords search for new operators.
In 2023, these six theaters collectively grossed $31 million, surpassing Landmark Theatres and ranking as the 32nd largest chain in the U.S./Canada. Despite this achievement, it was not among the top chains nationally. This closure is significant because the Kerasotes family has been operating this circuit for three generations since 1909.
At its peak, the Kerasotes circuit ran 95 theaters with 957 screens, making it the sixth largest in the country. Gus Kerasotes opened a nickelodeon in Springfield, Illinois in 1909 and expanded it into a major chain under his grandsons Tony and Dean’s leadership in 2010 when they sold most of their expanded circuit to AMC Theatres while simultaneously focusing on new premium services under the Showplace brand name.
The closure of Chicago’s main theater serving much of its South Side is particularly poignant as it was an important venue for urban audiences with only two remaining theaters and 18 screens left to serve a population of approximately 1.2 million people – leaving a gap in film exhibition landscape on city’s South Side . Tony Kerasotes has confirmed these closures but has not provided any additional comments at this time .