Kerasotes Theater Chain Closes After 115 Years in Business

Distribution sources confirmed published reports that four remaining theaters operated by Chicago-based Kerasotes Theatres are closing immediately. The four theaters, totaling 51 screens, operated in Chicago (South Loop), St. Louis Park (suburban Minneapolis), Mountain View, California; and San Jose, California (Valley Fair Mall). All operated under the ShowPlace Icon brand.

Just 10 days ago, Kerasotes announced the sale of its Secaucus, New Jersey location to Regal Theaters. Its Boston Seaport District location, which only opened in 2018, closed in March. Sources indicate the St. Louis Park location is being taken over by Milwaukee-based Marcus Theaters, the fourth largest chain nationally, and will reopen in the near future. The fate of the others is not certain, with landlords looking for new operators.

The six theaters grossed $31 million in 2023, more than Landmark Theatres. It didn’t rank as a major chain — it was no. 32nd in the U.S./Canada. But what makes this more than just a closure story is this circuit operated continuously since 1909 by three generations of the Kerasotes family.

Apart from the poignancy of the closing of a circuit with a history dating back to the earliest days of exhibition, it is a reminder of the difficulties faced by exhibition since it comes as theaters see some of their best grosses since COVID.

At its height, it operated 95 theaters nationwide with 957 screens, at that point the sixth largest in the country. Gus Kerasotes, a Greek immigrant, opened a nickelodeon in Springfield, Illinois in 1909. His sons expanded the circuit mainly in downstate Illinois.

In 2010, the next generation (Tony and Dean Kerasotes) sold most of the expanded circuit to AMC Theatres. Parallel to that sale, Kerasotes took ownership of new theaters with a focus on food and other premium services under the Showplace brand.

That Chicago location was the sole major theater serving much of the city’s South Side, and one of the most significant theaters to serve urban audiences. The Kerasotes closure leaves 2 theaters and 18 screens to serve the area’s population of 1.2 million.

Tony Kerasotes confirmed the closures but otherwise provided no comment at this point.