AMC Entertainment plans accept bitcoins 2021 end of the year and is exploring other ways to engage in cryptocurrencies - AMC Entertainment, the world's largest movie theater operator, plans to accept bitcoin as a payment method for movie tickets and concessions at its U.S. locations. UU. at the end of this year, as CEO Adam Aron said at a results conference on Monday 9.

Aron has explained that he has had to learn more about blockchain and cryptocurrencies in the last 6 months than in the last decade, which has given him confidence to announce AMC's immersion in the industry.

"By the end of the year, we will have information technology systems in a position to accept bitcoin as a payment method for movie tickets and concessions if purchased online in all of our theaters in the United States," he announced, according to a transcript of the teleconference.

The CEO has also spoken that AMC is exploring other ways to be able to participate in the cryptocurrency economy, as the company is willing to explore new opportunities.

AMC Entertainment plans accept bitcoins 2021 end

"We are very intrigued by the potentially lucrative business opportunity for AMC if we intelligently pursue further serious involvement with cryptocurrency," he added.

AMC plans to share more information about its cryptocurrency-related plans when the details become concrete. Several large companies, including fast food chains like Burger King and tech companies like Xbox, are starting to accept cryptocurrencies as a form of payment.

The CEO of AMC has made these statements after the company released the results for the second quarter of 2021, which have exceeded revenue estimates thanks to viewers have returned to theaters following the lifting of restrictions by COVID-19.

AMC Entertainment plans accept bitcoins 2021 end

The cinema chain's revenues increased by 19%, to 444.7 million dollars (about 378.4 million euros, at the current rate), in the quarter ending June 30, compared to the previous year, exceeding the estimate of 382.1 million dollars (325.1 million euros) of analysts surveyed by Refinitiv.

AMC has said to have sold 22 million tickets during the second quarter, compared to only 7 million in the first. However, the company's results remain lower than in 2019, when it sold 97 million tickets in the second quarter.

Its shares have risen more than 1,500% so far this year since it became a favorite on Reddit's WallStreetBets, and the company has taken advantage of the meme stock frenzy (securities that retail investors are buying, especially forers in the WallStreetBets community) by selling more stocks.

"We keep losing money. We keep spending money. We're burning less, but we're using cash, not generating cash. So we're not out of the woods yet," said Adam Aron.

AMC shares rose 10% in pre-market operations on Tuesday, to $ 37.33 (31.76 euros) per share at 4:15 E. T. (10:15 in mainland Spain), and went down to $ 37.20 (31.65 euros) per share at 14:45 Spanish time.

AMC Entertainment plans accept bitcoins 2021 end

More news:

Gazprom’s revenues surge on growing natural gas fees

Export proceeds of Russian country-run strength giant Gazprom saw an substantial boom of 73% from January to June 2021 as compared to the equal length a yr ago, in line with Russia's Federal Customs Service.

In monetary phrases, the growth amounted to $20.01 billion, even as the physical extent of exports totaled 108.Four billion cubic meters, marking a boom of 15.Three%.

In June, Gazprom exported $3.556 billion-well worth of herbal gasoline – an increase of eleven.6% at the previous month. While the physical volume of exports remained the same, at 15.7 billion cubic meters, the rising cost for natural fuel accounted for the growth in revenue.

According to the records tracked through the customs provider, the common export fee of Russian fuel in June surged to $226.Five consistent with 1,000 cubic meters, as compared to $199.7 in May and $185.Five in April.