TORONTO — Cineplex Inc. says November brought box office revenues of $35 million as Canadians came out to watch the likes of The Marvels and the latest Hunger Games movie.
The Toronto-based company says the results compared with box office revenues of $52 million during the same month in 2019, and were slightly lower than October’s numbers.
Cineplex says lower business volumes are expected in the near term due to the impacts of the Hollywood strikes.
The company also announced it has entered into a credit facility extension with its lenders.
It says strong results in the second and third quarters have allowed it to pay down approximately $55 million under its credit facilities.
Cineplex says that net proceeds from the recently announced sale of Player One Amusement Group, expected to close in the first quarter of 2024, will help it pay down further debt.
This report by The Canadian Press was first published Dec. 13, 2023.
Companies in this story: (TSX:CGX)
The Canadian Press
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