The movie multiplex on Davenport’s East 53rd Street has become a part of the nation’s third-largest chain of cinemas.
Cinemark USA purchased the remaining Rave Cinemas, including the Davenport 53, last week. Days earlier, 16 multiplexes were sold to Carmike Cinemas.
A spokesman for Rave Cinemas, contacted Wednesday by the Quad-City Times, said he was under the assumption that the Rave name would stay, but he could not confirm it. Messages left for a Cinemark spokesman were not returned.
It will be the third change of ownership in the past three years. Massachusetts-based National Amusements built the facility in the fall of 1998, operating it as Showcase Cinemas. Dallas-based Rave purchased the multiplex in 2009.
During Rave’s ownership, the theater converted to digital projection and added an IMAX screen, both in September 2010.
Cinemark will acquire essentially all of the assets of Rave, primarily consisting of 32 theaters located in 12 states, representing 483 screens, for a purchase price of approximately $240 million. Thirty-seven percent of the screens, including Davenport’s, are 3-D-capable.
The Plano, Texas-based Cinemark owns theaters in 38 states. Among Cinemark’s theaters are three in West Des Moines and Ames, Iowa; and nine in suburban Chicago.