ROLANDO RODRIGUEZ MARCUS THEATRE EMAIL MOVIE
ROLANDO RODRIGUEZ MARCUS THEATRE EMAIL FREE

and key European territories have re-closed theaters in November.Д®xecutives acknowledged that the release schedule could change again and experimentation with release strategies due to COVID - but noted that the vast majority of films have been delayed for later theatrical release (versus jumping to PVOD). Wonder Woman, due out globally Christmas Day, is key for circuits although, as Deadline reported yesterday, it wouldnвЂ™t be a surprise if Warner Bros moved it again.

ROLANDO RODRIGUEZ MARCUS THEATRE EMAIL FREE

HeвЂ™s upbeat on upcoming The Croods 2, Free Guy, Death on the Nile, Wonder Woman 1984 and News of the World. Theaters need new films, studio partners to commit to release dates and the country to get the pandemic under control вЂњincrementally,вЂќ he said. 1 theater in the county for Honest Thief when the Liam Neeson thriller opened October 16.

ROLANDO RODRIGUEZ MARCUS THEATRE EMAIL MOVIE

вЂњWe are encouraged by the recent news that theaters can reopen in portions of New York State, a significant market for the film industry and home to our Movie Tavern Syracuse Cinema,вЂќ said Rodriguez, who was just named to a two-year terms as chairman of the board of the National Association of Theatre Owners. Marcus Theatres CEO Rolando Rodriguez said major film studios are вЂњcautiously awaiting the reopening of major movie marketsвЂќ like Los Angeles and New York City before releasing new fare. The latter trend may become a long-term, positive shift. Execs attributed the bump to shorter lines and the chain encouraging patrons to buy ahead, online or though the app. But patrons вЂ“ few though they were вЂ“ spent a hefty 28% each more on concessions last quarter. It has subsequently reopened four theaters, with 59, or 66% of its circuit, now open.ДЄttendance was down 85% year-on-year last quarter with theaters closed completely for two of the three months. Marcus initially reopened 80% of theaters in August in time for Tenet, The New Mutants and Unhinged but closed 17 of them in early October due to lack of new releases. It could possibly raise вЂњtens of millionвЂќ of dollars by selling what it calls вЂњsurplusвЂќ real estate, said Marcus Corp. After the quarter ended, Marcus received tax refunds for $31 million from The CARES Act, with another $6 million expected soon and a potential coming in $21 million in 2021. Liquidity as of late September stood at $218 million. In September, it extended the maturity date of the term loan and received an additional $78 million in cash from bond sales.

Last spring, it amended its credit agreement including a new $90 million term loan. Liquidity is the key word for operating through a pandemic so Marcus spent some time on a call with analysts outlining efforts to shore up its financial position. It swung to a loss of $39 million from a $14.3 million profit. MarcusвЂ™ revenue for the quarter ended in September dropped to $33.6 million from $211 million. 'We Will Fight!': AMC CEO Adam Aron Channels Winston Churchill In Talks With 'More Than A DozenвЂ™ Strategic Investors As Chain Bleeds Red Ink Cash-strapped, much larger rival AMC Entertainment, for instance, doesnвЂ™t own most locations and - as it described on a call yesterday - is constantly negotiating lease abatements with landlords among other measures to keep afloat. Owning theaters вЂњis a significant advantage for us relative to our peers as it keeps our monthly fixed lease payments low and provides significant underlying credit support for our balance sheet,вЂќ the company said.

It owns underlying real estate for 60% of its screens - and it owns a chain of 18 upscale hotels and resorts. It beat Wall Street forecasts, however, and emphasized its solid financials underpinned by the fact it owns most of its theaters.ДЇamily-owned Marcus, based in Milwaukee, owns or operates 1,110 screens at 91 locations in 17 states under the Marcus Theatres, Movie Tavern by Marcus and BistroPlex brands.

The nationвЂ™s fourth-biggest cinema chain Marcus Theatres saw revenue plunge and swing to the red in its most recent third-quarter earnings released Tuesday.

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