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San Antonio's Freetail Brewing crafts charitable lager honoring late founder of Santikos Entertainment

San Antonio's Freetail Brewing crafts charitable lager honoring late founder of Santikos Entertainment
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Santikos Entertainment plans to open theater at former Drafthouse location in New Braunfels

Santikos Entertainment has inked an agreement to take over the former Alamo Drafthouse Cinema location at New Braunfels MarketPlace. ....

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Santikos Hopes For 2021: '50 Percent Of Normal'

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2020 was a dismal year for movie theaters. Amidst the coronavirus pandemic, the domestic box office plummeted 80% from 2019, as theatergoers stayed home in droves, opting to watch programs and movies on streaming platforms like Disney Plus, Netflix, and Amazon Prime.
Locally, San Antonio-based Santikos Enterprises also felt the pinch, despite being open since May with COVID-19 safety measures such as weekly virus testing for employees, and advanced hygiene and sanitization methods at its theaters. A normal year of revenue would have been about $110 to $115 million dollars, according to CEO Tim Handren. Last year’s take was only about a quarter of that. Not only is that bad for keeping the business open, but it also meant no profits were funneled into the San Antonio Area Foundation, which Santikos contributes to per the directive of the cinema chain’s late owner, John L. Santikos. ....

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San Antonio's Santikos Entertainment gets $50-million loan to ride out COVID-19 pandemic

San Antonio’s Santikos Entertainment gets $50-million loan to ride out COVID-19 pandemic
Some movie theaters are among the casualties of 2020
San Antonio Business Journal
Tags:
SAN ANTONIO –
between the San Antonio Business Journal and KSAT.
Santikos Entertainment has obtained a $50 million loan that puts the Alamo City-based owner of several movie theaters on firmer financial footing as the COVID-19 pandemic drags on.
The loan facilitated by The Bank of San Antonio through the Federal Reserve Bank’s Main Street Lending Program will be used to pay off an existing private banking loan whose terms had become burdensome.
Without the new loan, Santikos would have been forced to maximize its debt against other assets to maintain operations, CEO Tim Handren said. ....

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