Press Release (ePRNews.com) - JEFFERSONVILLE, Ind. - Mar 12, 2019 - Patoka Capital LLC, a Southern Indiana-based private investment firm, and Xscape Theatres are proud to announce the groundbreaking and construction of a new Xscape Movie Theatre in southern Indiana.
This will be the second Xscape Theatres location in the area with Louisville, Kentucky’s Xscape Blankenbaker 16 having opened in October of 2015. The new location will be constructed north of the Ohio River at 2800 Gottbrath Parkway, Jeffersonville, Indiana 47130.
Xscape Theatres will offer an exceptional movie-going experience to the area with this new convenient location. Positioned at the intersection of Highway 62, East 10th Street, and Interstate 265, this new theatre will be easily accessible for southern Indiana residents.
Patoka Capital is using a 12-screen design for the construction of their southern Indiana theatre with an approximate cost of $15 million to build. Of the 12 screens, two are designated to be “Xtreme Screens” that are 70 feet wide, use top-of-the-line 4K digital projection, and a cutting-edge wall-to-ceiling Dolby ATMOS immersive sound system. This 12-screen model will have approximately 1,500 stadium-style plush electric reclining leather seats and a spacious lobby area of 2,515 square feet.
The facility site plans include large surface parking lots with approximately 500 spaces. The Jeffersonville location has an estimated completion date of late 2019.
“Our experience of building and designing movie theatres over the last two decades has led us to this design. The response that we have received from the residents of Louisville, Jeffersonville, and the surrounding communities has been fantastic, and we look forward to bringing Hollywood to southern Indiana,” said Chance Ragains, CEO, Patoka Capital, and President, Xscape Theatres.
About Patoka Capital
Patoka Capital is a closely-held private equity firm with a track record of partnering with management teams and successfully scaling businesses. Their sole mission is to build long-term value by acquiring and growing privately held businesses.
Patoka Capital is actively looking to partner with owners who are dedicated to ensuring the long-term success of their business. Patoka Capital invests a pool of its own committed equity capital and is not an institutional fund. They define success by the contributions they make to their customers, employees, stakeholders and the community. For more information visit www.patokacapital.com.
About Xscape Theatres
Xscape Theatres is a New Albany, Indiana based, privately owned motion picture exhibition company. Xscape has set the standard for first-class entertainment offering widebody reclining seats and digital projection in all auditoriums. They currently operate locations in Brandywine, MD, Cincinnati, OH, Louisville, KY, Howell, NJ, Riverview, FL, Conroe, TX, and Richmond, TX. For more information visit www.xscapetheatres.com.