Strong Technical Services Extends Managed Services Contract with Marcus Theatres
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Insights
The extension of the Managed Services agreement between Strong Technical Services and Marcus Theatres can be seen as a strategic move for Strong Global Entertainment. This partnership ensures a steady revenue stream from a major client for an additional two years, which is significant in the context of the entertainment industry, where long-term contracts can provide stability against market volatility.
From a market perspective, this deal confirms Strong Global Entertainment's competitive position in the industry, potentially increasing investor confidence. It also suggests that the company's service offerings are well-received in the market, which could lead to similar contracts with other players and further revenue diversification.
An extended service agreement like this typically translates into predictable future cash flows, which are beneficial for financial planning and investment in growth strategies. Investors should note that such contracts may improve the company's valuation metrics, like the price-to-earnings ratio, especially if they contribute a significant portion of the revenue.
However, it is important to consider the terms of the contract, such as the pricing and cost structure, as they will impact the profitability of the deal. The lack of these details means that investors should seek further information to fully understand the financial implications.
In the entertainment sector, content delivery and management are critical components that theaters rely on for operational efficiency and to enhance the customer experience. The renewal indicates that Marcus Theatres is satisfied with the quality of services provided by Strong Technical Services, which speaks to the subsidiary's expertise and reliability in these areas.
Moreover, the focus on 'best-in-class' offerings suggests a commitment to innovation and staying ahead of technological advancements in the industry. This could have long-term benefits for Strong Global Entertainment as it may set a precedent for excellence and leadership in the field.
Charlotte, N.C., April 08, 2024 (GLOBE NEWSWIRE) -- Strong Global Entertainment (NYSE American: SGE) (“Strong Global Entertainment” or the “Company”) announced today that its subsidiary Strong Technical Services (“STS”) has extended its Managed Services agreement with Marcus Theatres, one of the top theatrical exhibitors in the United States. The agreement has been extended for two additional years, through April 2026.
“Strong Technical Services is pleased to have this opportunity to renew this preferred provider agreement with Marcus, for the service and support of their theatres across the U.S.,” said Blake Titman, President of STS. “We look forward to continuing our contribution to Marcus Theatres’ success by providing them with best-in-class offerings, including Field Service, Content Management, and Content Delivery services.”
Mark Gramz, President, Marcus Theatres, commented “Marcus Theaters values the work STS does for us as our Managed Services provider. Having witnessed the positive impact of the high quality of services offered by STS in the past years, it is with great confidence that we renew this agreement.”
Those looking for more information about Strong Technical Services can contact the sales team by phone at + 1 833-222-9986, via email at sales@strong-tech.com, or by visiting the strong-tech.com website.
About Strong Global Entertainment, Inc.
Strong Global Entertainment, Inc. a majority owned subsidiary of Fundamental Global Inc (NASDAQ: FGF) is a leader in the entertainment industry, providing mission critical products and services to cinema exhibitors and entertainment venues for over 90 years. The Company manufactures and distributes premium large format projection screens, provides comprehensive managed services, technical support and related products and services primarily to cinema exhibitors, theme parks, educational institutions, and similar venues. In addition to traditional projection screens, the Company manufactures and distributes its Eclipse curvilinear screens, which are specially designed for theme parks, immersive exhibitions, as well as simulation applications. It also provides maintenance, repair, installation, network support services and other services to cinema operators, primarily in the United States.
About Marcus
Marcus Theatres® is the fourth largest theatre circuit in the United States and currently owns or operates 1,106 screens at 91 locations in 17 states under the Marcus Theatres, Movie Tavern® by Marcus and BistroPlex brands, and one family entertainment center in Wisconsin. Marcus Theatres’ facilities are leaders in their markets, offering the latest amenities and technology in stadium seating, digital sound, innovative food, and beverage concepts and 72-feet-wide UltraScreen DLXs®. More information about the Company can be found at www.marcustheatres.com.
About Fundamental Global Inc.
Fundamental Global Inc. (Nasdaq: FGF, FGFPP) and its subsidiaries engage in diverse business activities including reinsurance, asset management, merchant banking, manufacturing, and managed services.
The FG® logo and Fundamental Global® are registered trademarks of Fundamental Global LLC.
Forward Looking Statements
This press release contains “forward-looking statements” that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “target,” “aim,” “should,” "will” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the section titled “Risk Factors” in the final prospectus related to the public offering filed with the SEC. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law.
Strong Technical Services Contact
Blake Titman
President
(402) 218-9560
blake.titman@strong-tech.com
Investor Relations Contacts
Mark Roberson
Strong Global Entertainment - Chief Executive Officer
(704) 471-6784
IR@strong-entertainment.com
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