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The Marcus Corporation (symbol: MCS) is a diversified company primarily engaged in the motion picture theatre and hospitality industries in the United States. Founded in 1935 and headquartered in Milwaukee, Wisconsin, Marcus Corporation has a rich history and significant presence in the entertainment and hospitality sectors.
Theatre Segment: The Marcus Corporation operates 1,110 screens at 91 locations across 17 states under well-recognized brands such as Marcus Theatres, Movie Tavern by Marcus, and BistroPlex. Notably, the company also runs a family entertainment center named Funset Boulevard in Appleton, Wisconsin, and a retail outlet called Ronnie's Plaza. This segment generates the maximum revenue for the corporation, providing high-quality movie-going experiences through state-of-the-art technology and superior customer service.
Hotels and Resorts Segment: The company's hospitality segment includes owning and managing 20 hotels, resorts, and other properties in eight states. These properties range from luxury resorts to full-service hotels, offering extensive amenities and services like check-in, housekeeping, and maintenance for vacation ownership developments. Marcus Corporation's hotels and resorts are located in Wisconsin, Illinois, Nebraska, and manage properties in states like Minnesota, Texas, Nevada, California, and North Carolina.
In addition to its core business operations, The Marcus Corporation prides itself on its commitment to customer satisfaction, community involvement, and sustainable business practices. The company's strategic partnerships and continuous efforts in enhancing guest experiences have been pivotal in its sustained growth and market relevance.
Despite the challenges posed by the global pandemic, Marcus Corporation has shown resilience by adapting to new market demands and implementing innovative solutions. Its diversified portfolio and robust management strategies provide a stable financial outlook, positioning it well for future growth and expansion.
The Marcus Corporation (NYSE: MCS) announced that Douglas A. Neis, executive vice president and CFO, will retire on May 15, 2022, after 36 years with the company. Chad Paris, currently the corporate controller and treasurer, will succeed him as CFO. Neis, who joined in 1986, has been instrumental in navigating the company through various challenges. Paris, who joined in October 2021, has experience as CFO at Jason Group, Inc. The transition aims to strengthen the company’s financial management and maintain a strong balance sheet.
The Marcus Corporation (NYSE: MCS) announced it will report its fourth quarter and full year results for fiscal 2021 on March 3, 2022, before the market opens. A conference call will follow at 10:00 a.m. Central time. Participants can access the call via the company’s website or by dialing in. A replay will be available until March 10, 2022. The company operates in the lodging and entertainment sectors, managing 1,064 screens across 85 locations in 17 states.
MetaMedia, a global cloud-based content delivery platform, has partnered with Marcus Theatres, the fourth-largest theater chain in the U.S., which operates 1,064 screens across 85 locations. This collaboration aims to leverage MetaMedia's technology to enhance operational efficiency and create new revenue streams through diverse programming, including live events. The MetaMedia Entertainment Network, powered by Microsoft Azure, will facilitate the secure and rapid delivery of entertainment content to Marcus Theatres.
The Marcus Corporation announced a joint venture with Searchlight Capital Partners to acquire the Kimpton Hotel Monaco Pittsburgh, managed by Marcus Hotels & Resorts, effective December 16, 2021. This acquisition marks a strategic expansion into the Pennsylvania market, enhancing their portfolio of lifestyle hotels and resorts. The Kimpton Hotel Monaco features 248 rooms and over 11,300 sq. ft. of event space, appealing to business and leisure travelers. The terms of the deal were not disclosed.
Marcus Theatres, a division of The Marcus Corporation (NYSE:MCS), announced record advance ticket sales for ‘Spider-Man: No Way Home’, marking the largest sales since ‘Avengers: End Game’ in 2019. Tickets, which went on sale on November 29, are expected to continue strong sales as audiences return to theaters. Notably, 72% of tickets sold in the first two days were for premium formats like UltraScreen DLX and IMAX. The excitement around the film comes as the company heads into the holiday season.
The Marcus Corporation (NYSE: MCS) reported a strong recovery in its third quarter fiscal 2021, achieving nearly $25 million in Adjusted EBITDA and positive net earnings of $1.76 million. Total revenues reached $145.86 million, a significant increase from $33.59 million in Q3 2020. Both Marcus Theatres and Marcus Hotels & Resorts outperformed their industries, with Marcus Theatres achieving positive Adjusted EBITDA for the first time since the pandemic began. The balance sheet remains solid with $197 million in cash and credit availability.
The Marcus Corporation (NYSE: MCS) has appointed Chad Paris as corporate controller and treasurer. Paris, with over 15 years of experience in finance, previously served as CFO at Jason Group, Inc., where he managed various financial functions and transactions. He holds degrees in management and finance from the University of Wisconsin – Milwaukee and is a certified public accountant. Douglas A. Neis, CFO of The Marcus Corporation, commended Paris for his depth of knowledge in financial management, which is expected to support the company's growth strategy.
The Marcus Corporation (NYSE: MCS) will report its third quarter fiscal 2021 results before the market opens on November 3, 2021. Following the release, a conference call will be held at 10:00 a.m. Central (11:00 a.m. Eastern), accessible via the company's website or by phone. A replay will be available until November 10, 2021. The company is a leader in lodging and entertainment, operating Marcus Theatres, the fourth largest theater circuit in the U.S., with 1,091 screens across 17 states, and Marcus Hotels & Resorts, managing 19 properties.
The Marcus Corporation (NYSE: MCS) has filed a new universal shelf registration statement with the Securities and Exchange Commission. This allows the company to offer an indeterminate number of securities with a maximum aggregate price of up to $150 million. This replaces the previous shelf registration that expired on September 18, 2021. The registration provides flexibility to raise public equity or debt capital for business expansion, acquisitions, or debt repayment. CEO Gregory S. Marcus emphasized the proactive nature of this filing for future financial opportunities.
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