Does VGL have any connection with AMC Cinemas in the US? 98% of their cinemas are expected to re open before 28/3
Printable View
Does VGL have any connection with AMC Cinemas in the US? 98% of their cinemas are expected to re open before 28/3
Cinema closes look inevitable across the US.
The movie-theater chain Alamo Drafthouse Cinema has filed for bankruptcy and is being sold
Vista Entertainment Solutions CEO is extremely bullish. Spent another over $300k to buy their own shares.
This company interests me and is on my watch list. I have real concerns though that the effects of COVID-19 are only just coming through with lots of closures around the world and in a number of countries ,Coverd 19 is getting out of control again. When I spoke to my broker about it he said he doesn’t like the stock and is concerned that the new norm will be widespread screening of blockbusters online.
Vista have said that in every country where Cinemas are fully open, people have returned in numbers. They also used the analogy that people still go to restaurants despite being able to cook at home. In fact a better analogy would be that people still go to restaurants despite being able to have food delivered to their door. Obviously the restaurant still makes money off food deliveries (whereas cinemas don't make money from streaming, generally) but you still see restaurants packed, which is the point.
People said that TV and then DVD would kill cinemas, but it didn't. Streaming is obviously more of a threat to cable TV and DVD, which are both dying; the latter is basically already dead.
On an anecdotal note, Hoyts EntX in Christchurch is a massive success and I think you'll see more upmarket cinemas that combine dining and other experiences going forward.
Ticking along nicely
I'm a recent holder as a recovery play but need to do more homework to decide if this is a long term hold. Does anyone know why the share price stagnated from 2015-mid 2018 despite posting strong growth numbers?