AMC Theatres Chief Adam Aron Projects ‘Bright Future’ for Cinemas With Massive Upgrades Including $100 Million Coke Machine Investment

variety.com:

Matt Donnelly Senior Film Writer Adam Aron, CEO of the nation’s largest movie theater chain AMC Theatres, refuses to hide his optimism.

After a wild year of bankruptcy speculation, debt repayment extensions, revised credit ratings and a few billion dollars in box office earnings, the eternal theatrical optimist was ready to celebrate at Variety‘s annual Entertainment and Technology Summit in West Hollywood on Thursday. “I’m a relieved human being,” said Aron during his keynote conversation at the thought leadership conference sponsored by City National Bank, referring to the five-year extension he won from lenders this summer. “In July, we were able to announce that we’d worked agreements with 150 different lending institutions that will refinance most of our long-term debt and push our maturities.” AMC’s credit rating was raised by S&P Global in August, but analysts are still wary of the economic headwinds facing the movie theater business – and the $4.5 billion in long-term debt that Aron’s shop is carrying. “Maybe the most important thing we did was negotiate hard with our lenders that in 2026 … if the circumstances are right we can refinance all this debt yet again, pushing it out further than 2030,” he added.

Acknowledging his financial roller coaster and survival against many odds, Aron referenced a joke that IMAX CEO Rich Gelfond often tells about his chain’s management team. “He’s sure that Harry Houdini works at AMC,” Aron said of Gelfond.

Speaking of magic, Aron touted some silver linings. Box office earnings this year from June to September more than doubled the numbers of the preceding 5 months — from $1.5 billion to $3.5 billion, he said.