in Austin in 2010, has been acquired by EVO Entertainment Group, the Austin-based entertainment company which will forthwith begin operating as Elevate Entertainment Group .
Currently, EEG operates 15 cinema entertainment centers across the United States, with an additional four in the pipeline. According to a release, this will include four Violet Crown venues: Austin, West Village - Dallas, Charlottesville, and Santa Fe, adding a total of 30 screens to the group’s 172 already in operation.
The acquisition will diversify EEG’s offerings with its arthouse focus. The acquisition is planned to close by December 2023.Related ArticlesBill Banowsky, founder and CEO of Violet Crown Cinemas, said in a statement that, “our journey with Violet Crown has been extraordinary. We've cultivated a unique moviegoing experience that caters to film lovers, and that remains unchanged.
Banowsky, who has a long history in the film industry, will remain a part of Violet Crown Cinemas as an equity partner. Banowsky started his cinema journey in 2001, when he founded Magnolia Pictures, which he sold in 2003. He served as CEO of Landmark Theatres from 2003-2007, then founded Carolina Cinemas in 2008, and started Violet Crown Cinemas in 2010.