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Cineplex Q2 2022 Reports Positive Net Income and Strongest Results Since Pandemic Began

·25 min read

TORONTO, Aug. 11, 2022 /CNW/ - (TSX: CGX) - Cineplex Inc. ("Cineplex" or the "Company") today released its financial results for the three and six months ended June 30, 2022. Unless otherwise specified, all amounts are in Canadian dollars.

Cineplex logo (CNW Group/Cineplex)
Cineplex logo (CNW Group/Cineplex)

"Cineplex delivered its strongest quarter in over two years, thanks to a great film slate and record-breaking results from across our diversified businesses," said Ellis Jacob, President & CEO, Cineplex. "The cumulative success of Top Gun: Maverick, Doctor Strange in the Multiverse of Madness, and Jurassic World Dominion during the quarter – which saw each film opening with a domestic box office over $100 million – is a testament to the fact that when strong film product is available, Canadians return to our theatres in droves. We generated positive net income for the first time since the start of the pandemic. We also achieved a second quarter record BPP of $12.29 and an all-time quarterly record CPP of $8.84. We also saw very encouraging results in our other businesses, including an all-time quarterly record adjusted EBITDAaL in Player One Amusement Group and record second quarter adjusted EBITDAaL in the Location-Based Entertainment business."

Jacob continued, "in addition to reporting our strongest results since the pandemic began, this quarter we are celebrating a few other important milestones from across the business, including the expansion of the Scene+ loyalty program and Empire Company Limited joining Scotiabank and Cineplex as partners. Today, we are also celebrating the one-year anniversary of CineClub."

"With respect to the Cineworld litigation, we remain focused on preparations for the Ontario Court of Appeal hearings which are scheduled for October 12 and 13 of this year. As part of the ongoing efforts to maximize and monetize the value of the judgement, we have engaged Moelis & Company as financial advisor and Goodmans LLP as lead counsel," said Jacob.

"As we look forward, we remain confident in the recovery of our businesses, our strong capital management and liquidity, and our efforts to manage financial uncertainties as we have done during previous economic downturns. The strong quarterly results aided our compliance with the financial covenant testing for the second quarter of 2022. In anticipation of ongoing film release shifts caused by COVID-19 related production delays, we have received the support and confidence of our lending group for the suspension of financial covenant testing in the third quarter of 2022. With the backdrop of recessionary concerns, Cineplex is well positioned to further capitalize on pent-up consumer demand for affordable out-of-home entertainment," Jacob concluded.

Second Quarter Financial Results



2022


2021

Period over Period Change (i)

Total revenues

$

 349.9  million

$

    64.9 million

438.9 %

Theatre attendance


 11.1 million


  1.1 million

866.2 %

Net income (loss) (ii)

$

          1.3 million

$

      (103.7)   million

NM

Net income (loss) as a percentage of sales (ii)


0.4 %


(159.7) %

160.1 %

Cash provided by (used in) operating activities

$

       47.2 million

$

       17.1 million

175.2 %

Box office revenues per patron ("BPP") (iii)

$

12.29

$

10.89

12.9 %

Concession revenues per patron ("CPP") (iii)

$

8.84

$

7.86

12.5 %

Adjusted EBITDA (iii)

$

   77.9 million

$

     (16.9)  million

NM

Adjusted EBITDAaL (ii) (iii)

$

   35.8 million

$

      (53.2) million

NM

Adjusted EBITDAaL margin (ii) (iii)


10.2 %


(81.9) %

92.1 %

Adjusted free cash flow (iii)

$

    21.8 million

$

    (65.9) million

NM

Adjusted free cash flow per Share (iii)

$

0.345

$

(1.041)

NM

Earnings per Share ("EPS")  - basic and diluted (ii)

$

0.02

$

(1.64)

NM

Year to Date Financial Results



2022


2021

Period over Period Change (i)

Total revenues

$

     578.6 million

$

         106.3  million

444.1 %

Theatre attendance


    17.8 million


      1.6 million

NM

Net loss (ii)

$

  (40.9)  million

$

       (193.4)  million

-78.8 %

Net loss as a percentage of sales (ii)


(7.1) %


(181.9) %

174.8 %

Cash provided by (used in) operating activities

$

    41.7 million

$

   (18.5) million

NM

Box office revenues per patron ("BPP") (iii)

$

12.19

$

10.44

16.8 %

Concession revenues per patron ("CPP") (iii)

$

8.83

$

7.40

19.3 %

Adjusted EBITDA (iii)

$

  114.4 million

$

     (47.0)  million

NM

Adjusted EBITDAaL (ii) (iii)

$

    30.0 million

$

         (115.3) million

NM

Adjusted EBITDAaL margin (ii) (iii)


5.2 %


(108.4) %

113.6 %

Adjusted free cash flow (iii)

$

 0.1 million

$

    (144.7) million

NM

Adjusted free cash flow per Share (iii)

$

0.002

$

(2.285)

NM

Earnings per Share ("EPS") - basic and diluted (ii)

$

(0.65)

$

(3.05)

-78.7 %

i.         Period over period change calculated based on thousands of dollars except percentage and per share values. Changes in percentage amounts are calculated as 2022 value less 2021 value.

ii.        2022 includes expenses related to the Cineworld Transaction and associated litigation and claims recovery in the amount of $1.2 million (2021 - $2.6 million) for the second quarter and $1.5 million (2021 - $5.0 million) for the year-to-date.

iii.      Adjusted EBITDA, adjusted EBITDAaL, adjusted EBITDAaL margin, adjusted free cash flow per common share of Cineplex, BPP and CPP are measures that do not have a standardized meaning under generally accepted accounting principles ("GAAP").  These measures as well as other Non-GAAP other financial measures reported by Cineplex are defined in the 'Non-GAAP and Other Financial Measures' section at the end of this news release.

 

Proactive Credit Facility Amendment

On August 10, 2022, Cineplex entered into a fifth amending agreement to the Credit Agreement, (the "Fifth Credit Agreement Amendment"), which among other things, extended the suspension of financial covenant testing until the fourth quarter of 2022 and liquidity covenant requirement until March 31, 2023. The following is a summary of the key terms of the Fifth Credit Agreement Amendment:

a. The suspension of financial covenant testing was extended until the fourth quarter of 2022. On resumption of financial covenant testing in the fourth quarter of 2022:

  1.  

b. Thereafter, testing will be based on an annualized calculation of the cumulative Adjusted EBITDA on a trailing four fiscal quarter basis;

c. The Total Leverage Ratio of 3.75x will apply when financial covenants are reinstated, and will be reduced quarterly by 0.25x until the third quarter of 2023 at which point it will reach a level of 3.00x;

d. The liquidity covenant will continue and be amended requiring available liquidity (as defined) to be maintained at all times until March 31, 2023 at no less than $100.0 million;

e. The Senior Leverage Ratio to be based on annualized Adjusted EBITDA and set at 1.0x lower than the Total Leverage Ratio. Senior Leverage Ratio is defined as (i) Total Debt (as defined in the Credit Agreement) less any Notes Payable to (ii) Adjusted EBITDA; and

f. A fixed charge coverage ratio of greater than 1.25x will continue to apply.

This summary of the Fifth Credit Agreement Amendment is qualified in its entirety by reference to the provisions of the Credit Agreement which contains a complete statement of those terms and conditions. The Credit Agreement and each of the First, Second, Third, Fourth and Fifth Credit Agreement Amendment were filed on SEDAR on June 30, 2020, November 13, 2020, February 8, 2021, January 4, 2022, and August 10, 2022, respectively, for each of Credit Agreement Amendments.

KEY DEVELOPMENTS IN THE SECOND QUARTER OF 2022

The following describes certain key business initiatives undertaken and results achieved during the second quarter of 2022 in each of Cineplex's core business areas:

FILM ENTERTAINMENT AND CONTENT

Theatre Exhibition

  • Reported second quarter box office revenues of $136.4 million, a $123.9 million increase from 2021 as a result of increased theatre attendance compared to theatre closures that remained in effect for a majority of the prior year period due to government mandated restrictions.

  • BPP was $12.29, a second quarter record, which increased by $1.40 or 12.9% when compared to the prior year period, primarily due to an increase in premium offerings in the current period as compared to the prior period which had no 3D or ScreenX performances, in addition to the VIP auditoriums being closed for the majority of the second quarter of 2021.

  • Introduced an online booking fee on June 15, 2022 that applies to tickets purchased through Cineplex's mobile app and website that will contribute to Cineplex's further investment in its digital infrastructure.

Theatre Food Service

  • Reported second quarter theatre food service revenues of $98.0 million, an increase of $89.0 million compared to the prior year period primarily due to a significant increase in theatre attendance.

  • CPP was $8.84, an all-time quarterly record, representing an increase of $0.98 or 12.5% when compared to the prior year period, primarily due to an increase in food service sales at VIP auditoriums which drive a higher CPP and modest price increases.

Alternative Programming

  • During the second quarter, Cineplex hosted the global exclusive free fan event finale of Star Wars Obi-Wan Kenobi with a live broadcast to an additional nine locations from the Scotiabank Theatre in Toronto. This event also included a special question and answer session featuring Canadian director Deborah Chow and Canadian actor, Hayden Christensen.

  • Alternative Programming (Cineplex Events) in the second quarter of 2022 included the anime feature Jujutsu Kaisen 0, Turandot and Hamlet from The Metropolitan Opera, a concert from Twenty One Pilots, the anime feature Seventeen Power of Love and a two-night event for WWE Wrestlemania 38.

Digital Commerce

  • Total registered users for Cineplex Store increased 10% from the prior year period, reaching over 2.2 million registered users.

MEDIA

  • Reported second quarter media revenues of $26.4 million, an increase of $17.0 million or 180.9% as compared to the prior year period.

Cinema Media

  • Reported second quarter cinema media revenues of $18.7 million, an increase of $16.3 million or 675.4% over the prior year period, due to increases in cinema advertising as a result of reopened theatres and new film releases.

Digital Place-Based Media

  • Reported second quarter revenues of $7.7 million, an increase of $0.7 million or 10.3% due to higher project installation revenues.

AMUSEMENT AND LEISURE

Amusement Solutions

  • Reported all-time record revenues in the second quarter of $65.7 million, an increase of $43.5 million or 196.3% compared to the prior year period primarily due to increases in P1AG amusement revenues from US and Canada route locations at FEC's and theatres, and increases in amusement revenues from LBE businesses.

Location-based Entertainment

  • Reported all-time record revenues in the second quarter of $28.1 million, including a second quarter record for food service revenues of $10.2 million, all-time record for amusement revenues of $17.4 million and $0.5 million of media and other revenues, an increase of $26.0 million compared to the prior year period. The increase was primarily due to all LBE venues being open without capacity restrictions compared to closures that remained in effect for a majority of the prior year period.

LOYALTY

  • Membership in the Scene+ loyalty program remained flat during the period ended June 30, 2022.

  • Announced updates to the Scene+ program, welcoming Empire Company Limited as a co-owner of Scene+, providing members with increased opportunities to earn and redeem points. Empire will rollout Scene+ across their family of brands in Atlantic Canada in August 2022, and by early 2023, will be launched across Canada.

CORPORATE

  • Celebrated Pride Month with a collection of films available on the Cineplex Store aiming to recognize and amplify LGBTQ2IA+ voices, with a portion of the proceeds donated to support local Pride celebrations across Canada.

  • Partnered with imagineNATIVE, the world's largest presenter of Indigenous screen content to curate a Cineplex Store collection to raise awareness of the rich culture, history and experiences of Indigenous people, with a portion of the proceeds donated to charitable causes.

OPERATING RESULTS FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2022

Total revenues

Total revenues for the three months ended June 30, 2022 increased $285.0 million (438.9%) to $349.9 million as compared to the prior year period. Total revenues for the six months ended June 30, 2022 increased $472.3 million (444.1%) to $578.6 million as compared to the prior year period. A discussion of the factors affecting the changes in box office, food service, media, amusement and other revenues for the two periods is provided below.

Non-GAAP and other financial measures discussed throughout this news release, including adjusted EBITDA, adjusted EBITDAaL, adjusted EBITDAaL margin, adjusted free cash flow, theatre attendance, BPP, premium priced product, same theatre metrics, CPP, film cost percentage, food service cost percentage and concession margin per patron are defined and discussed in Non-GAAP and other financial measures section of this news release.

Box office revenues

The following table highlights the movement in box office revenues, theatre attendance and BPP for the quarter and the year to date (in thousands of dollars, except theatre attendance reported in thousands of patrons and per patron amounts, unless otherwise noted):

Box office revenues

Second Quarter

Year to Date


2022

2021

Change

2022

2021

Change








Box office revenues

$  136,372

$    12,498

991.2 %

$ 216,324

$   16,316

NM

Theatre attendance (i)

11,092

1,148

866.2 %

17,753

1,563

NM

Box office revenue per patron (i)

$      12.29

$      10.89

12.9 %

$     12.19

$     10.44

16.8 %

BPP excluding premium priced product (i)

$      10.51

$      10.09

4.2 %

$     10.50

$       9.73

7.9 %

Same theatre box office revenues (i)

$  134,709

$    12,484

979.1 %

$ 213,587

$   16,296

NM

Same theatre attendance (i)

11,013

1,146

861.0 %

17,622

1,560

NM

% Total box from premium priced product (i)

42.4 %

22.8 %

19.6 %

40.2 %

20.2 %

20.0 %

(i)  Represents a supplementary financial measure. See Non-GAAP and other financial measures section of this news release.

 

Box office continuity

Second Quarter

Year to Date


Box Office

Theatre
Attendance

Box Office

Theatre
Attendance

2021 as reported

$             12,498

1,148

$             16,316

1,563

Same theatre attendance change

107,460

9,868

167,732

16,062

Impact of same theatre BPP change

12,294

25,680

New and acquired theatres (i)

1,663

78

2,722

129

Disposed and closed theatres (i)

(14)

(2)

(4)

(1)

Scene+ points issued presented as marketing costs

2,471

3,878

2022 as reported

$           136,372

11,092

$           216,324

17,753

(i) See Non-GAAP and other financial measures section of this news release.  Represents theatres opened, acquired, disposed or closed subsequent to the start
of the prior year comparative period and is used to report on Cineplex's supplementary financial measures.

 

Second Quarter 2022 Top Cineplex Films

3D

% Box

Second Quarter 2021 Top Cineplex Films

3D

% Box

1

Top Gun: Maverick


21.1 %

1

F9: The Fast Saga


17.3 %

2

Doctor Strange In The Multiverse of Madness

20.0 %

2

A Quiet Place Part II


16.0 %

3

Jurassic World Dominion

10.4 %

3

The Conjuring: The Devil Made Me Do It


10.2 %

4

Sonic The Hedgehog 2


6.9 %

4

Godzilla Vs. Kong


8.2 %

5

Fantastic Beasts: The Secrets of Dumbledore


5.1 %

5

Cruella


7.9 %

 

Year to Date  2022 Top Cineplex Films

3D

% Box

Year to Date 2021 Top Cineplex Films

3D

% Box

1

Top Gun: Maverick


13.3 %

1

F9: The Fast Saga


16.2 %

2

Doctor Strange In The Multiverse of Madness

12.6 %

2

A Quiet Place Part II


15.0 %

3

The Batman


11.5 %

3

The Conjuring: The Devil Made Me Do It


9.6 %

4

Spider-Man: No Way Home

7.7 %

4

Godzilla Vs. Kong


7.7 %

5

Jurassic World Dominion

6.6 %

5

Cruella


7.4 %

 

Second Quarter and Year to Date

Box office revenues increased $123.9 million to $136.4 million during the second quarter of 2022, compared to $12.5 million recorded in the same period in 2021. This increase was mainly due to a 9.9 million increase in theatre attendance, as Cineplex's theatre circuit was open during the quarter at full operating capacity, compared to operating restrictions or closure requirements that remained in effect for a majority of the prior year period. The release of highly anticipated films also contributed to the significant increase in box office revenues including Doctor Strange in the Multiverse of Madness and Top Gun: Maverick which reported a North American gross of  $126.7 million during its opening weekend and has become the ninth biggest all-time grossing film in North America.

BPP for the three months ended June 30, 2022 was $12.29, a second quarter record, representing an increase of $1.40 or 12.9% from $10.89 reported in the prior year period. This increase was due to increased revenue from premium priced offerings, accounting for 42.4% of Cineplex's box office revenues in the second quarter of 2022, as compared to 22.8% in the prior year period.  In the prior year period, there were no 3D or ScreenX performances, and VIP auditoriums were closed for the majority of the second quarter of 2021. The reorganization of SCENE resulted in a change in revenue recognition leading to higher box office revenues during the quarter  of $2.6 million, a BPP increase of $0.24 with a corresponding increase in marketing costs of $2.6 million, with respect to Scene+ points issued on box office transactions.

For the year to date period, box office revenues increased $200.0 million to $216.3 million, compared to $16.3 million recorded in the prior year period. This increase was primarily due to a 16.2 million increase in theatre attendance as Cineplex's theatre circuit was open for the entire period with increased operating capacity, compared to operating restrictions or closure requirements that remained in effect for a majority of the prior year period.

BPP during the year to date period was $12.19, which increased $1.75 or 16.8% from $10.44 reported in the prior year period. This increase was due to higher percentage of box office revenue from premium priced offering, which accounted for 40.2% of Cineplex's box office revenues in the six months ended June 30, 2022, as compared to 20.2% in the prior year period. The reorganization of SCENE resulted in a change in revenue recognition leading to higher box office revenues during the year to date period of $4.1 million, a BPP increase of $0.23 with a corresponding increase in marketing costs of $4.1  million, with respect to Scene+ points issued on box office transactions.

Food service revenues

The following table highlights the movement in food service revenues, theatre attendance and CPP for the quarter and the year to date (in thousands of dollars, except theatre attendance and same store attendance reported in thousands of patrons and per patron amounts):

Food service revenues

Second Quarter

Year to Date


2022

2021

Change

2022

2021

Change








Food service - theatres

$      98,046

$        9,022

986.7 %

$    156,805

$      11,561

NM

Food delivery - theatres

2,390

3,676

-35.0 %

5,639

7,454

-24.4 %

Food service - LBE

10,178

516

NM

16,537

687

NM

Food delivery - LBE

23

44

-48.1 %

44

81

-45.9 %

Total food service revenues

$    110,637

$      13,258

734.5 %

$    179,025

$      19,783

804.9 %








Theatre attendance (i)

11,092

1,148

866.2 %

17,753

1,563

NM

CPP (i) (ii)

$          8.84

$         7.86

12.5 %

$          8.83

$          7.40

19.3 %

Same theatre food service revenues (i)

$      96,446

$        9,006

970.9 %

$    154,113

$      11,537

NM

Same theatre attendance (i)

11,013

1,146

861.0 %

17,622

1,560

NM








(i) Represents a supplementary financial measure. See Non-GAAP and other financial measures section of this news release.

(ii) Food service revenue from LBE and delivery is not included in the CPP calculation.

 

Theatre food service revenue continuity

Second Quarter

Year to Date



Theatre Food
Service

Theatre
Attendance

Theatre Food
Service

Theatre
Attendance


2021 as reported

$              9,022

1,148

$            11,561

1,563


Same theatre attendance change

77,523

9,868

118,748

16,062


Impact of same theatre CPP change

7,642

20,113


New and acquired theatres (i)

1,601

78

2,692

129


Disposed and closed theatres (i)

(16)

(2)

(24)

(1)


Scene+ points issued presented as marketing costs

2,274

3,715


2022 as reported

$            98,046

11,092

$          156,805

17,753


(i) See Non-GAAP and other financial measures section of this news release. Represents theatres opened, acquired, disposed or closed subsequent to the start
of the prior year comparative period and is used to report on Cineplex's supplementary financial measures.


 

Second Quarter and Year to Date

Food service revenues are comprised primarily of concession revenues, which includes food service sales at theatre locations and through delivery services including Uber Eats and Skip the Dishes. Food service revenues also include food and beverage sales at The Rec Room and Playdium.

Food service revenues increased by $97.4 million during the second quarter primarily due to the $89.0 million increase in theatre food service revenues to $98.0 million in the quarter. During the current period, Cineplex's theatre circuit and LBE businesses operated without government mandated capacity restrictions and proof of vaccination programs compared to ongoing capacity restrictions or mandated closure requirements enforced during the prior year period. Food service revenues from LBE  businesses which had two additional locations as compared to the prior year period,  increased by $9.7 million during the second quarter from $0.5 million to $10.2 million, further contributing to the increase in food service revenue. However, as a result of staffing availability, certain LBE venues were unable to operate at full operating levels, restricting the ability to book group events, reduced operating hours, and not operating the dining areas at full capacity. CPP for three months ended June 30, 2022 was an all-time quarterly record of $8.84, which increased by $0.98 or 12.5%. Modest prices increases to Cineplex's core food service products, two additional VIP theatre locations and film product that appealed to first-run viewers who tend to have a higher concession spend contributed to the increase in CPP, as compared to the prior year period. VIP auditoriums which drive higher CPP were closed for the majority of second quarter of 2021. The reorganization of SCENE resulted in a change in revenue recognition leading to higher concession revenues during the quarter of $2.5 million, a CPP increase of $0.22 with a corresponding increase in marketing costs of $2.5 million, with respect to Scene+ points issued on concession transactions.

For the year to date period, food service revenues increased by $159.2 million, primarily due to a $145.2 million increase in theatre food service revenues. The increase in theatre food service revenues is primarily due to increases in theatre attendance which increased by 16.2 million to 17.8 million. The prior year period was materially impacted by government mandated theatre and LBE venues closures, restrictions indoor dining and operating restrictions. Contributing to the increase in total food service, food service revenues from LBE businesses increased $15.9 million during the year to date period from $0.7 million to $16.5 million. CPP during the year to date period was $8.83, which increased by $1.43 or 19.3%. During the prior year period, government mandated closure requirements and restrictions limited consumer spend resulting in minimal premium purchases which historically generate higher CPP, contributing to a lower CPP recognized. The reorganization of SCENE resulted in a change in revenue recognition leading to higher concession revenues during the year to date period of $4.0 million, a BPP increase of $0.22 with a corresponding increase in marketing costs of $4.0 million, with respect to Scene+ points issued on concession transactions.

Media revenues

The following table highlights the movement in media revenues for the quarter and the year to date (in thousands of dollars):

Media revenues

Second Quarter

Year to Date


2022

2021

Change

2022

2021

Change








Cinema media

$          18,700

$            2,412

675.3 %

$          26,949

$            4,311

525.1 %

Digital place-based media

7,706

6,989

10.3 %

15,002

14,164

5.9 %

Total media revenues

$          26,406

$            9,401

180.9 %

$          41,951

$          18,475

127.1 %

 

Second Quarter and Year to Date

Total media revenues increased $17.0 million or 180.9% to $26.4 million during the second quarter of 2022 compared to the prior year period. For the year to date period, total media revenues increased $23.5 million or 127.1% to $42.0 million. The increase during both periods was due to an increase in Cinema media due to significant increases in pre-show and show-time advertising revenues, resulting in a quarterly and year to date increase of.$16.3 million and $22.6 million, respectively. During the prior year periods, theatre closures or operating restrictions remained in effect for a majority of the prior year period negatively impacting media revenues. Cineplex's cinema media arrangements are impacted by theatre attendance levels which drive impressions and ultimately impact media revenue generated by Cineplex. Accordingly, the increase in cinema media revenue reflects the increase in attendance levels when compared to the prior period. During the second quarter and year to date periods, digital placed-based media revenues increased $0.7 million and $0.8 million, respectively, compared to the prior year periods as a result of higher project installation revenues.

Amusement revenues

The following table highlights the movement in amusement revenues for the quarter and the year to date (in thousands of dollars):

Amusement revenues

Second Quarter

Year to Date


2022

2021

Change

2022

2021

Change








Amusement - P1AG excluding Cineplex exhibition and LBE (i)

$      45,097

$      20,446

120.6 %

$      79,936

$      33,005

142.2 %

Amusement - Cineplex exhibition (i)

3,248

199

NM

5,339

271

NM

Amusement - LBE

17,378

1,539

NM

30,872

2,782

NM

Total amusement revenues

$      65,723

$      22,184

196.3 %

$    116,147

$      36,058

222.1 %

(i) Cineplex receives a venue revenue share on games revenues earned at in-theatre game rooms and XSCAPE Entertainment Centres.  Amusement - Cineplex
exhibition reports the total of this venue revenue share which is consistent with the historical presentation of Cineplex's amusement revenues.  Amusement -
P1AG excluding Cineplex exhibition and LBE reflects P1AG's gross amusement revenues, net of the venue revenue share paid to Cineplex reflected in
Amusement - Cineplex exhibition above.

 

Second Quarter and Year to Date

Amusement revenues increased $43.5 million or 196.3% to an all-time quarterly record of $65.7 million during the second quarter as compared to the prior year period. The increase was primarily due to a $24.7 million increase in P1AG amusement revenues from US and Canada route locations at FEC's and theatres. The increase was also attributable to a $15.8 million increase in LBE amusement revenues, resulting in an all-time quarterly record of $17.4 million for LBE amusement revenues. During the period, increased operating activities at P1AG US and Canada route locations at FEC's and theatres, as well as LBE businesses, compared to the government mandated closure requirements or capacity restrictions that remained in effect for a majority of the prior year period, contributed to significant increases in amusement revenues.

For the year to date period, amusement revenues increased $80.1 million or 222.1% to $116.1 million. The increase was primarily due to a $46.9 million increase in P1AG amusement revenues from US and Canada route locations at FEC's and theatres. Further contributing to the increase was a $28.1 million increase in LBE amusement revenues. The current period also includes two additional locations of The Rec Room, resulting in increased LBE amusement revenues as compared to the prior year period. The increase is also attributable to increased operating activities as operating restrictions and mandatory closure requirements were lifted, compared to the government mandated closure requirements or capacity restrictions that remained in effect for a majority of the prior year period.

Other revenues

The following table highlights the other revenues which includes revenues from the Cineplex Store, online booking fees, promotional activities, screenings, private parties, corporate events, breakage on gift card sales and revenues from management fees for the quarter and the year to date (in thousands of dollars):

Other revenues

Second Quarter

Year to Date


2022

2021

Change

2022

2021

Change

Total other revenues

$          10,740

$            7,585