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Digital Cinema Destinations Corp. (DCIN) Strategy to Expand Theatrical Footprint, Screen Count

Digital Cinema Destinations, operating 18 cinemas and 178 digital screens under the name Digiplex Destinations, is a rapidly growing U.S. motion picture exhibitor featuring major motion pictures, coverage of live sports events, concerts, conferences, operas, ballet, Broadway plays, independent films, and more.

To continue its historical growth, the company has established a consolidation strategy it believes will maximize the digital cinema circuit and drive financial benefits for the company.

DCIN sees its opportunity in acquiring solid performing theaters in accretive transactions at reasonable cash flow multiples. The company’s long-term goal is to create a national circuit of cinemas consisting of 100 theaters/1,000 screens in 75/100 top designated marketing areas.

Thus far, this business model has fared well. Since its IPO in April 2012, DCIN has grown its screen count to 18 theatres/178 screens (as of February 2, 2013) from 3 theaters/19 screens. This has resulted in increased total revenue per screen over last four quarters versus prior-year periods by 18%, 30%, 15%, and 48% respectively.

DCIN has secured a Start Media Joint Venture and Term Loan to assist in support of its theater circuit expansion goals. The company says that most recent acquisitions via joint venture will produce a return on investment to DCIN of approximately 30%.

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