What the changes say
- Film and play supply now dominates, with Hollywood strikes cited as delaying releases and disrupting cinema attendance.
- Funding access matters more as cinemas upgrade presentation and food-and-beverage offerings against in-home entertainment.
- The filing drops specific discussion of large-exhibitor competition, appraisals, labor relations, cybersecurity insurance, liquidity, and geopolitical risks.
What changed since the prior 10-K
New
- New
development, and (v) better economies of scale. Access to reasonably priced funding is increasingly important as cinema operators need to upgrade their presentation and food and beverage in order to compete with in-home entertainment options
Cinema operators need reasonably priced funding to upgrade presentation and food-and-beverage offerings, while live theatres compete with not-for-profit venues for shows.
Dropped
- Dropped
continue for the foreseeable future and plan to minimize the impact by focusing on the supply of those items with the greatest impact on our sales and operations
- DroppedRisks Related to the Real Estate Industry Generally
tele-commuting demand for traditional office space has likewise declined and may likewise continue to decline), or the public perception that any of these events may occur, could result in declining rents or increased lease defaults. Increasing cap rates can result in lower property values
- DroppedRisks Related to the Real Estate Industry Generally
Risk of adverse labor relations: Deterioration in labor relations could lead to an increased cost of labor (including the cost of future government requirements with respect to scheduling, accommodation, pension liabilities, disability insurance and health coverage, vacations and leave)
Larger exhibitors’ superior access to films, screens, markets, and funding could disadvantage RDI.
- DroppedRisks Related to the Real Estate Industry Generally
technology systems. Since 2015, we have annually procured cybersecurity insurance to protect against cybersecurity risks; however, we cannot provide any assurance regarding the adequacy of such insurance coverage
Reworded
- 57% rewritten
We also face competition from various other forms of “beyond-the-home” entertainment, including sporting events, concerts, restaurants, casinos, video game arcades, and nightclubs. Our cinemas also face competition from live theatres and vice versa
The risk remains materially unchanged: supply shortages or interruptions could raise costs and disrupt theatre and restaurant operations.
- 32% rewritten
Cinema Exhibition and Live Theatre Business Risk Factors
The risk shifts from pandemic-related closures and attendance concerns to reliance on film and play suppliers, including strike-related delays.
- 25% rewrittenRisks Related to the Real Estate Industry Generally
Operating, Financial Structure and Borrowing Risk
Negative working capital is now attributed to developing existing properties, rather than investing cash in new acquisitions and existing properties.
- 25% rewrittenRisks Related to the Real Estate Industry Generally
Real estate development involves a variety of risks
The shown discussion of development-property acquisition and land-use entitlements is unchanged, including Australian and New Zealand foreign-ownership regulations.
All 10 risk factors
Headings as the filing states them, in filing order.
Other
- 01Cinema Exhibition and Live Theatre Business Risk Factors32% rewritten
- 02We also face competition from various other forms of “beyond-the-home” entertainment, including sporting events, concerts, restaurants, casinos, video game arcades, and nightclubs. Our cinemas also face competition from live theatres and vice versa57% rewritten
- 03development, and (v) better economies of scale. Access to reasonably priced funding is increasingly important as cinema operators need to upgrade their presentation and food and beverage in order to compete with in-home entertainment optionsnew
- 04We are vulnerable to a variety of factors which are beyond our control
- 05Specific Risks Related to Our Real Estate Business
Risks Related to the Real Estate Industry Generally
- 06Real estate development involves a variety of risks25% rewritten
- 07Risks Associated with Certain Discontinued Operations
- 08Operating, Financial Structure and Borrowing Risk25% rewritten
- 09Ownership and Management Structure, Corporate Governance, and Change of Control Risks
- 10Reference is made to the Cotter Schedule 13D for more detailed information of the scope and extent of the holdings of Margaret Cotter and Ellen Cotter. Our Class A Stock is non-voting and accordingly our Class B Stock represents all of the voting power of our Company
Other Reading International 10-Ks
- 2025 10-K risk factors
13 risks. Cinema and live theatre results depend on attendance, film availability, employees, and uninterrupted public-venue operations.
Filed Mar 31, 2025
About this page
Item 1A of the 10-K on EDGAR was split into its risk factors and, where the company's previous 10-K is on file, each heading was matched to last year's and the text compared word for word. The headings are the filing's own. The one-line readings and the overview were written by a language model from the text of the new, dropped, and rewritten risks; they refer to risks by position and cannot misquote a heading.