AMC Theatres Teases Partnership With GameStop
AMC Theatres is looking to pursue some sort of partnership with gaming retailer GameStop. Both companies are part of the “meme stocks” saga, which saw stocks like GameStop skyrocket on the backs of a short squeeze. Both stocks have retained higher than normal prices and it looks like there may be a plan to fuse the two companies together in some way.
AMC Theaters CEO Adam Aron stated during the company’s latest earnings call (via The Street) that it is hoping to create a partnership with GameStop in the future. Investors in AMC’s stock have been asking for something of this nature for a while and Aron responded to the calls by saying “We’re on the case.” It doesn’t seem anything has been solidified as of yet, but AMC has made it very clear it has interest in partnering with the company in some way. This could be via the return of arcades in theaters (such as VR headsets or other gaming content) or through esports content, which Aron also briefly touched on during the call.
GameStop has taken on new leadership since the start of 2021, lending itself open to new opportunities. GameStop is pursuing opportunities such as NFTs and also attempting a transformation into the ecommerce space, similar to the likes of Amazon. AMC is also expanding itself in new ways as it announced plans to accept Bitcoin as payment for online transactions by the end of the year. Whether or not active conversations between GameStop and AMC are ongoing is unclear, but it certainly seems like there is an effort from AMC Theatres to get the ball rolling on something.
Source: The Street
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