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Cineplex Inc T.CGX

Alternate Symbol(s):  CPXGF | T.CGX.DB.B

Cineplex Inc. is a Canadian brand that operates in the film entertainment and content, amusement and leisure, and media sectors. The Company's segments include Film Entertainment and Content, Media, and Location-Based Entertainment. It offers over 170 movie theatres and location-based entertainment venues. In addition to being a film exhibitor, the Company operates Canada's destination for Eats & Entertainment (The Rec Room), complexes specially designed for teens and families (Playdium), and an entertainment concept that brings movies, amusement gaming, dining, and live performances together under one roof (Cineplex Junxion). It also operates businesses in digital commerce (CineplexStore.com), alternative programming (Cineplex Events), motion picture distribution (Cineplex Pictures), cinema media (Cineplex Media) and digital place-based media (Cineplex Digital Media). The Company is a partner in Scene+, Canada's entertainment and lifestyle loyalty program.


TSX:CGX - Post by User

Post by SIGG1on Jan 28, 2021 12:30pm
264 Views
Post# 32410271

ScotiaBank Latest Research

ScotiaBank Latest Research OUR TAKE: Positive. CGX announced the sale and leaseback of its head office building for gross proceeds of $57M and the transaction is expected to close in early January. In addition to the SCENE announcement last Friday, CGX will be receiving approx. $117M in cash shortly. This brings CGX liquidity available to approximately $300M. We estimate this will provide sufficient liquidity until the film industry recovers with its monthly cash burn at approximately $20M. We believe CGX management continues to execute well in managing cash flow and its liquidity position during this challenging environment for the film industry. With the vaccines being administered, and as the movie theatres in the major US states reopen (California and New York) after the vaccines, we expect major film studios to release their strong film slate in 2021 to enable a recovery. For CGX to meet its Q2/21 covenant, we think studios will have to release their blockbuster tent-poles exclusively for theatres starting in early Q2. CGX plans to consolidate its office footprint in Toronto, and with remote work, it will require less offic
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