AMC Theatres on Block E loses appeal

The Eighth U.S. Circuit Court of Appeals is upholding a previous ruling that the 15-screen theater doesn't have the option to extend its lease. The Star Tribune reports it's unclear whether the movie complex in downtown Minneapolis can negotiate a new lease or if it will close. Camelot LLC bought the retail space in 2010 and it's being considered a possible site for the state's first non-tribal casino.

Author:
BMTN Staff
Updated:
Mar 8, 2018
Original:
Jan 19, 2012

The Eighth U.S. Circuit Court of Appeals is upholding a previous ruling that the 15-screen theater doesn't have the option to extend its lease. The Star Tribune reports it's unclear whether the movie complex in downtown Minneapolis can negotiate a new lease or if it will close. Camelot LLC bought the retail space in 2010 and it's being considered a possible site for the state's first non-tribal casino.

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Developers announced that AMC movie theaters in downtown Minneapolis' Block E will close at the end of the business day Sept. 23. The complex is nearly empty, leaving only one business afloat. Block E's owner intended to build a $400 million casino in the space, but the plan wasn't making any progress at the Capitol.

Developers continue to insist the retail space is ideal for an urban casino in downtown Minneapolis. They told Fox 9 it could attract 5.5 million visitors and create 2,500 jobs. However, the developers are taking a gamble because this idea is only possible if lawmakers expand gaming to non-tribal casinos.

A plan to develop a casino on Block E in downtown Minneapolis got new life after Mayor R.T. Rybak included it in a plan to finance a Vikings Stadium. Several business leaders are also starting to get behind the deal.

The city's huge entertainment-retail complex now sits half-empty, and while the owner wants it to house a $400 million casino, the mayor says that plan isn't going anywhere at the Capitol. But there is a Plan B: Gut most of the complex and fill it with offices.

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