When the world’s biggest movie theater is closed, you can still get tickets for $50

Byron Lee, POLITICO Florida’s largest theater, is shutting down in October, leaving patrons with less options.

The Miami-Dade County-owned theater was scheduled to close Nov. 3 after being shut down in January and February, when the state passed a law requiring theaters to offer free movie tickets and movie passes.

That meant that movie ticket prices would drop by 50 percent, to $49 for a standard ticket and $54 for a pass.

The price cuts come after months of negotiations and with ticket sales plummeting.

The theater’s owner, Cinescape Cinemas, said the company decided to close the theater because it would not have enough room to meet the new movie demand.

The Miami Herald reported that Cinescoas parent company, Cinemark, agreed to pay for additional spaces and renovations to the theater.

The company said the price cuts were part of an effort to save $30 million over three years, and that the company expects to make a profit.

“This will be a win-win for all parties,” Cinescaas CEO Brian Smith said in a statement.

The move to shut down the theater comes as the state is grappling with a pandemic that has claimed more than 500 lives and left millions homeless.

In Miami-Fort Lauderdale, where the theater is located, the number of people sleeping on the streets rose to over 100,000 from less than 20,000 in January.

The state has also been struggling with a massive pandemic with more than 5 million deaths, more than 2.7 million cases of the virus, and nearly 4 million new cases in the U.S.

The Associated Press contributed to this report.