Post a Free Blog

Submit A Press Release

Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Filter by Categories
Action
Animation
ATP Tour (ATP)
Auto Racing
Baseball
Basketball
Boxing
Breaking News
Business
Business
Business Newsletter
Call of Duty (CALLOFDUTY)
Canadian Football League (CFL)
Car
Celebrity
Champions Tour (CHAMP)
Comedy
CONCACAF
Counter Strike Global Offensive (CSGO)
Crime
Dark Comedy
Defense of the Ancients (DOTA)
Documentary and Foreign
Drama
eSports
European Tour (EPGA)
Fashion
FIFA
FIFA Women’s World Cup (WWC)
FIFA World Cup (FIFA)
Fighting
Football
Formula 1 (F1)
Fortnite
Golf
Health
Hockey
Horror
IndyCar Series (INDY)
International Friendly (FRIENDLY)
Kids & Family
League of Legends (LOL)
LPGA
Madden
Major League Baseball (MLB)
Mixed Martial Arts (MMA)
MLS
Movie and Music
Movie Trailers
Music
Mystery
NASCAR Cup Series (NAS)
National Basketball Association (NBA)
National Football League (NFL)
National Hockey League (NHL)
National Women's Soccer (NWSL)
NBA Development League (NBAGL)
NBA2K
NCAA Baseball (NCAABBL)
NCAA Basketball (NCAAB)
NCAA Football (NCAAF)
NCAA Hockey (NCAAH)
Olympic Mens (OLYHKYM)
Other
Other Sports
Overwatch
PGA
Politics
Premier League (PREM)
Romance
Sci-Fi
Science
Soccer
Sports
Sports
Technology
Tennis
Thriller
Truck Series (TRUCK)
True Crime
Ultimate Fighting Championship (UFC)
Uncategorized
US
Valorant
Western
Women’s National Basketball Association (WNBA)
Women’s NCAA Basketball (WNCAAB)
World
World Cup Qualifier (WORLDCUP)
WTA Tour (WTA)
Xfinity (XFT)
XFL
0
-- Advertisement --spot_img
HomeBusinessAMC Entertainment CEO announces $2 billion spending on expansion and upgrades

AMC Entertainment CEO announces $2 billion spending on expansion and upgrades

Add to Favorite
Added to Favorite

 

The pandemic brought a mixed bag for different stocks. AMC Entertainment not only endured the disruptions of the pandemic but thrived and is now holding $2 billion in liquidity. CEO Adam Aron said that the theater chain will go the offensive to build and expand with these revenues that were gained from its strategic stock sales in the last year.

 

AMC Entertainment will use these funds:

 

  • to seek new cinema leases
  • to upgrade its current theaters
  • to offer new payments options including crypto currency
  • to increase its content offerings and add sports and pre-taped concerts.

 

On Tuesday, CEO Adam Aron appeared on CNBC’s “Squawk on the street.” He said that the millions of individuals investors who had invested in the company in the past six months had lifted it from bankruptcy to liquidity were the owners of his company. He said that they were his bosses, and their suggestions were important as they were the owners of the company. He said that he worked for them, and they did not work for him.

 

He also commented on their huge liquidity of $2 billion and said that it was the biggest ever the company had and that they were the largest theater operator in the world and that they were “playing on offense.”

 

In July AMC had signed a deal to lease two of Los Angeles top grossing cinema theaters: 14-screen   cinema at the The Grove and the 18-screen location at Americana, which were formerly operated by Pacific Theaters. It plans to open the theaters in August. It is also looking at ten other locations in its expansion efforts.

 

New retail investors investors had asked the company to accept bitcoin for movie transactions and concessions. The company has agreed and has said that it would put the relevant technology in place by the end of the year.

 

AMC is also looking at new ways to increase its revenues and could partner with GamesStop, another meme stock driven by individual retail investors, to add gaming events at its theaters.

 

Image-Author Coolcaesar at English Wikipedia

Subscribe to get Latest News Updates

Latest News

You may like more
more

Walmart deep discounts on Black Friday start early, web fans thrilled, CWEB reports

Walmart (WMT), the nation’s largest retailer, offers deep discounts...

Trump Picks 2.0: President elect chooses Bessent for Treasury, Bondi for AG, CWEB reports

Donald Trump added names to his administrative team and...

Paradise CWEB Official Cinema Trailer and Movie Review Sterling K. Brown

Movie Review: Paradise Paradise, creator Dan Fogelman brings viewers into...