Mann Theaters may be sold

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Tuesday, Oct. 12, 1999 | 11 a.m.

The bankrupt anchor tenant of the planned Neonopolis entertainment complex in downtown Las Vegas may soon be sold, raising the hopes of Neonopolis' developer that the project could soon proceed.

Variety reported Oct. 8 that Cineamerica, a joint venture between Paramount and Warner Bros., is attempting to acquire Mann Theaters in bankruptcy court. Mann's parent company, WestStar Cinemas, filed for bankruptcy last month.

Cineamerica owned and operated the chain until 1997, when it sold it for $165 million.

If Mann is unable to proceed at Neonopolis, developers are prepared to locate a new anchor tenant for Neonopolis.

"A theater is important to this project ... but not necessarily this theater," said Rob Snowden, executive vice president of World Entertainment Centers, the project's developer. "We're hopeful that Warner and Paramount stepping forward will mean we get a decision sooner rather than later.