Movie Theaters

Kimberly Redmond | |

A record number of moviegoers went to the theaters over Labor Day weekend, giving big chains like AMC Entertainment Holdings Inc (NYSE: AMC) and Cinemark Holdings Inc (NYSE: CNK) hope of a turnaround at the box office after weathering widespread cinema closures during the pandemic.

On Tuesday, AMC said more than 2 million people watched a movie at one of its more than 380 US locations between Sept. 2 and Sept. 5, beating out its previous Labor Day revenue record in 2013.

Kimberly Redmond | |

Cineworld Group is eyeing a US listing to tap investors in the movie theater operator’s largest market as part of an effort to shore up its pandemic-strained finances.

On Thursday, London-listed Cineworld said it was considering a plan to list its shares on Wall Street or to do a partial US listing of its Regal Entertainment Group unit.

Kimberly Redmond | |

AMC Entertainment Holdings announced Monday it will soon have the technology in place at all US theaters to enable customers to buy movie tickets or concessions online using bitcoin.

During the company's second quarter earnings call, AMC’s chief executive officer Adam Aron said the chain will also offer support for Google Pay and Apple Pay at its theaters by the end of 2021.

Reuters | |

Shares of AMC Entertainment soared on Thursday, notching a 35% one-day gain in a rally that burned bearish investors and sparked jubilation among the stock's online supporters.

The movie theater chain’s market value ended the session at $11.9 billion as its shares closed at $26.52, with the highest trading volume of any stock on U.S. exchanges on the day. The shares are now up 1,150% year-to-date after hitting their highest level in four years.

Reuters | |

Cinema operator AMC Entertainment Holdings Inc is seeking shareholder approval to sell 500 million shares to the public, its top boss Adam Aron said in a CNBC interview on Thursday.

The approval would give the board the flexibility to authorize future issuances for a variety of purposes, the company said.

Kimberly Redmond | |

As lockdown restrictions ease across the US, Regal Cinemas, the nation’s second largest theater chain, will reopen following a six-month pandemic-related shutdown.

On Tuesday, Regal’s parent company, Cineworld Group plc (OTC US: CNWGY), said about 500 locations will open April 2, with the release of Godzilla vs. Kong. More theaters across the country will welcome back guests for the April 16 release of Mortal Kombat.