The video this transcript is based on appeared on December 18.
NEW YORK (TheStreet) -- AMC Entertainment Holdings shares are trading higher after pricing its IPO at $18 at the New York Stock Exchange.
AMC just went public today, the stock priced at $18, it is already trading higher. Joining me now is the CEO Gerry Lopez. So, one thing I wanted to ask you about AMC is the, you know, the profits and losses over the past few years have been very uneven. Is there a way that you can smooth that out going forward, or is it just really dependent on the movies you get.
No, with the movies obviously play a huge role, there's no escaping the fact that the number one reason people come to our buildings is to enjoy a movie; however, we think that with some of the innovations that we've introduced over the last couple years, that choppiness gets to be a lot smoother going forward. Part of the reason for the jumping is as it would be investing in the innovation and that requires a lot of up-front capital investment which we are making, continuing to make and anticipate it will continue over the next few years but a the idea scape get traction as a number buildings were we are deploying the ideas grows bigger, as they, our loyalty program gets the whole greater numbers of people, we think the path forward is bright.
Well I was gonna say, one of the big things of course is that they're adding these new reclining chairs and you have to see this folks because, boy, I mean look at me, I am relaxed and that's...
Going to go with, it's there but that's a comfort. Our strategic imperative year is to provide you with comfort and convenience and these chairs are all about that comfort and convenience, making them available in more of buildings, more of our markets, installing them in locations were perhaps I can now serve you a glass of wine or a glass beer and maybe even dinner. Now the concept of people enjoying their evening out - their entire evening out, not just a movie - with us it's really one of the underpinnings of the work that we're trying to do.
Well, he brought up food and that's another big thing that they're going to be doing is the whole dine-in theater process, improving the food quality and so that people really, instead of going to a dinner and a movie, they're going to a dinner at the movie.
Yes that a general idea. It was very obvious to us as we looked at the entire package, the entire experience that we were providing our guests, that we missed a couple of things. The concession stand for the last 25 years really had not had a lot of improvement, not any significant movement. When you look at the magic of making a movie and you see that technology and how far we've come on that front, to then not have kept pace in the experience in the building in the food and beverage options that we offer, struggles as a big opportunity.
Well, their IPO ha s worked out pretty good so far this morning as well, like I said they priced today at $18 and moved higher, that is the CEO of AMC Gerry Lopez and I'm Debra Borchardt with TheStreet.
Written by Debra Borchardt in New York.
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