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AMC Entertainment beats quarterly revenue estimates, announces dividend
Entertainment

AMC Entertainment beats quarterly revenue estimates, announces dividend

An AMC theatre is pictured amid the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., January 27, 2021. REUTERS/Carlo Allegri/File PhotoRegister now for FREE unlimited access to Reuters.comRegisterAug 4 (Reuters) - AMC Entertainment Holdings Inc (AMC.N) reported second-quarter revenue marginally ahead of Wall Street estimates on Thursday, as big-ticket films such as "Top Gun: Maverick" drew crowds to movie halls, driving a surge in box-office collections at the world's largest theater chain.AMC also announced a special dividend in the form of preferred stock, to paid on Aug. 19. The company will issue one preferred equity unit for each of the 516.8 million class A common stock.With COVID receding, consumers are increasingly returning to o...
Australia’s Star Entertainment flags lower revenue on COVID, regulatory costs
Entertainment

Australia’s Star Entertainment flags lower revenue on COVID, regulatory costs

A tourist poses for pictures at the main sign of The Star Casino, owned by Echo Entertainment, at Pyrmont Bay in Sydney July 4, 2013. REUTERS/Daniel Munoz (AUSTRALIA - Tags: BUSINESS)Register now for FREE unlimited access to Reuters.comRegisterJuly 29 (Reuters) - Australia's Star Entertainment Group Ltd (SGR.AX) said on Friday its annual revenue would dip from year-ago levels, pulled down by long spells of operating restrictions, pandemic-led border closures and high regulatory costs.The country's no.2 casino operator expects a normalized revenue of A$1.53 billion ($1.07 billion) for fiscal 2022, compared with A$1.55 billion last year.The company further cautioned that total costs for its mega-project Queen's Wharf Brisbane are expected to shoot about 10% higher from previous outlook of...
Lift-maker Otis agrees to sell Russia business to local investment firm
Business

Lift-maker Otis agrees to sell Russia business to local investment firm

This content was produced in Russia where the law restricts coverage of Russian military operations in UkraineMOSCOW, July 27 (Reuters) - Lift-maker Otis Worldwide Corp (OTIS.N) said on Wednesday it had agreed to sell its Otis Russia business to Russia-based investment company Ice Development."After carefully considering the global impacts and consequences of the ongoing crisis and humanitarian tragedy across Eastern Europe, including supply chain disruptions and mounting regulations, we determined that Otis' ownership of our business in Russia is no longer sustainable," Otis said in a statement.Scores of companies have opted to exit Russia or announced plans to do so since Moscow sent tens of thousands of troops into Ukraine on Feb. 24.Register now for FREE unlimited access to Reuters....