Palace IFC is operated by Edko Films, a film distributor which also manages 13 cinemas and 77 screens in Hong Kong under the Broadway Circuit brand. Overall box office revenue in Hong Kong fell 16 per cent year on year to HK$1.13 billion (US$145 million) in 2025, the lowest level in 13 years and extending a multi-year decline, according to Hong Kong Box Office Limited. Hong Kong has seen at least 35 cinemas shut down – with some reopening under a different name – since 2020, according to the Culture, Sports and Tourism Bureau. Operators cited high rents, volatile box office performance and a shrinking movie-going audience as key challenges, with some choosing not to renew leases upon expiry. CineArt Cinema has since announced plans to open a new branch at the same site on February 13.

Source: The Star February 15, 2026 15:18 UTC