Lionsgate has paused its plan to open an entertainment center in New York’s Times Square after Spanish partner Parques Reunidos has withdrawn from the project. In the fall of 2017, the compan…
franchise. The site, at 11 Times Square, is at an entertainment- and media-saturated intersection, of 42nd Street and Eighth Avenue. AMC and Regal megaplexes are a few doors down, along with a Madame Tussauds wax museum. The headquarters ofLionsgate had no comment on the news, which first surfaced in aParques Reunidos decided to take the company in a different direction, according to a person familiar with the company’s thinking.
Despite the unrealized New York plan, Lionsgate has drawn 25 million visitors in aggregate across its company-branded attractions in Dubai, Las Vegas and several other cities. The Lionsgate Entertainment World vertical theme park in China will open July 31 and the Lionsgate Movie World outdoor theme park will debut in South Korea next year.
Lionsgate stock closed at $12.34 a share, declining almost 3% during a shortened trading session on Wall Street. The stock is less than a dollar from its 52-week low and has dropped more than 25% in 2019 to date.
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