There’s other alternate content that we could focus on other than just concert movies. We could look to comedy, we could look to sports. When you think about the movie theater industry, it’s a dirty little secret that we only – that the industry only sells about 15% of our tickets. Because as the clear leader of the movie theater industry, and the clear leader by a wide margin, AMC is doing all the right things. There’s one more topic that I want to raise before we turn to your questions, and that is our interests, meaning the interests of our shareholders and my interests as a – as CEO of the company and as a shareholder myself are perfectly aligned. We believe there are numerous other reasons, too, like rising interest rates and inflationary wage and cost pressures, among many others.
So I guess, I would just maybe simply answer that by just saying that’s the potential benefit and the beauty of all the capabilities that INTL’s already got in place. And then our ability to deliver those capabilities with the pipe and direct to customers. So if we’re the last mile, and they have the whole 5G network, well, now we’re able to get etoro broker review 5G into the hands. And so, which means we have a better relationship and a more valuable relationship with our customers. I just like to mention, I mean, the credit people don’t really think about it this way, but we have a pretty large holdco revolver and have significant flexible –well not flexibly, undrawn capacity under that at the moment.
And I think we weren’t part of a bigger system. So some of those opportunities get unlocked because of the transaction. And without it, maybe they don’t get unlock or they take longer to us.
Obviously, on the pure retail side, we do end up with some retail business in our network. A lot of it comes through brokers and aggregators, introducing brokers and aggregators, but we do have some pure retail business. Not a lot, obviously, Gain’s strengthens us a lot in that bottom row, as you can see, with the light blue parts of the Doughnut. I mean, a lot of our single products exhibit similar volatilities in their revenue profile. But I think putting these together, creates a better portfolio effects on the revenues. And indeed, as I’ll show you later, we back tested that and it significantly reduces, in fact, our stand-alone volatility.
Dictionary Entries Near capital gain
And as a result, I guess, one of the issues I’m sure they were thinking about is it’s become a small monoline business with a fair degree of volatility. But investors don’t pay a lot for volatile monoline businesses that aren’t able to kind of compete in what is becoming a more challenging market. And really, I don’t want to overstep my mark here because this is really sort of a Gain issue. But as far as we are aware, there was a very competitive process run here.
It should further pick up later in 2024, and the box office for 2025 could be very favorable as movies that might have been released sooner finally get released in 2025. Capital markets actions that we took during 2023 have positioned us to face with confidence the probability of a relatively weak near-term box office, especially during the first half of 2024. While the box office for the first half of the year will likely under-perform last year, we are increasingly optimistic about outlook for the latter half of 2024 and the film slate for 2025 looks incredibly exciting.
GAIN Capital Holdings, Inc. 2020 Q1 – Results – Earnings Call Presentation
The absolute smartest way for AMC first to survive and then eventually to be in a position to thrive, is to have robust cash reserves. If that’s not enough, both of these two movies played to rave critical acclaim. Each received a rare A-plus cinema score, and the Rotten Tomatoes response was astronomical, with Taylor’s film scoring a 99/98 and Beyoncé’s film scoring a 97/99. With me this afternoon is Adam Aron, our Chairman and CEO, and Sean Goodman, our Chief Financial Officer. Before I turn the webcast over to Adam, let me remind everyone that some of the comments made by management during this webcast may contain forward-looking statements that are based on management’s current expectations.
- Number one, Sean outlined the interesting output that’s hard to argue with the numbers that says, the combined entity ends up in a great interesting way with lower volatility of earnings than the separate.
- So you consider – you can look at – as I mentioned earlier, look at Gain from the lens of the last three months of the last year, of the last three years and going forward.
- Such as real estate investment trusts (REITs), which are legally obligated to take 90% of their income that is taxed and distribute it back to investors in the form of dividends.
- And I think we weren’t part of a bigger system.
- Like you said we added 59 theaters into our system over the past several years.
One does not sell $54 million of movie-themed merchandise in our theaters and online as AMC did in 2023, versus virtually no sales of such items only a few years ago, if their motives are impure. I should point out, by the way, that selling merchandise was an idea that came in from our retail shareholders by the way. beaxy exchange review Had we not sold those shares, deduct $418 million from $435 million? Big companies the size and scope of AMC Entertainment cannot survive with only $17 million of cash on hand. Similarly, in the full year of calendar year 2023, AMC raised $865 million of cash through the sale of APEs and the sale of common stock.
GAIN Capital shareholders approve INTL FCStone deal (updated)
The large boost from its announcement of a substantial special dividend has helped to propel the company into 2024. Parks Hotels & Resorts is in a period of financial stability, and there is also potential for its dividend to increase further down the line. And then, for example, on the FX flows, as I highlighted, we also have FX flows. And when you combine more flows and internalize them you get more natural offsets.
As you pointed out on the slide in terms of where the CVIX was and even VIX in general, we recently published our January activity levels. And even when people just look around and see markets moving a bit from where they were. We went from kind of like a 6.5 yards or $6.5 billion per day volume in Q4 of 2018 to $7.3 billion per day in January.
GAIN Capital Holdings, Inc. 2020 Q2 – Results – Earnings Call Presentation
And if you look on the far right, you can see the combined, what that looks like. You’ll see the little on the top left of that kind of Doughnut, the 21%, that’s really Gain’s retail business there. I was just going to add to your point about what we consider kind of an opportunity to regress to more normal levels in terms of activities and market conditions.
We – as you can tell, we’re both pretty excited about this. The next slide, I think we’ve covered most of this, but just sort of putting it down in metrics, I’ll take you through a more detailed buildup of the pro forma results here. But you can see our business and Gain’s stacked up together.
This is 5% higher than a year ago and record food and beverage revenue per patron of $8.31. This is an increase of 7.1% compared to 2022. We point this out not to alarm you or to whine about it, but instead because we want everyone to realize that by the middle of ’23 we had finally emerged from the cloud of the pandemic. But then the strike hit and sent us back into the soup.
GAIN Capital Holdings EPS beats by $0.17, beats on revenue
You know, I might add that I think one of AMC’s greatest strengths over the past decade has been I think we’ve been the preeminent consumer marketer in our industry. There are a lot of ideas about our loyalty programs. Our marketing department right now is in the process of testing some things we’ve given a lot of thought to.
And in that summer quarter of 2023, AMC generated the highest third quarter adjusted EBITDA ever. Clearly, moviegoers flock to theaters when Hollywood releases films in quantity and quality. Or for that matter, think fxpcm of what came out of Leawood, Kansas, Taylor Swift, The Eras Tour, among others. But the strike of ’23 clearly interrupted that momentum that was pushing us to above pandemic norms in the middle of last year.