CA - Cineplex: Debt Reduction And Long-Term Movie Supply May Increase Share Price

2024-04-08 08:59:40 ET

Summary

• Cineplex reported record third-quarter box office results, with revenues reaching 106% of 2019 levels, indicating high demand for theatrical experiences.
• Streaming services do not make movie theaters obsolete; big tech companies and legacy studios recognize the importance of theatrical releases.
• Cineplex's January/February box office numbers were at 70% of 2019 levels, outperforming the domestic market, but it remains uncertain if the company will achieve its attendance goal for the quarter.

Cineplex ( CGX:CA ), ( CPXGF ) is the largest movie theater chain in Canada. As I wrote in July 2023 , the company has other business segments, including location based entertainment venues, which compete with Dave & Buster's ( PLAY )....

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