Global City Holdings
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15

Dec

Cinema City opens in Turgu Mures, Romania. The Company has 114 screens in Romania

Today Cinema City celebrates the official opening of its first multiplex in the city of Turgu Mures, Romania in the Promenada Mall Mures shopping center. This is the 12th Cinema City in the country and the 10th Romanian city with a Cinema City multiplex. The cinema has 8 halls with 1 465 seats. The cinema is 100% digital with large opportunities for 3D projection as well. 

Turgu Mures is another good point in implementation of our Romanian strategy. Our Romanian network now spans 10 cities and this is our third opening in Romania this year” said Moshe J. Greidinger, CEO of Cinema City, the largest multiplex cinema operator in Central & Eastern Europe and in Israel.Romania is an exciting market for cinema-going. In the first three quarters of 2011 admissions were up almost 20% year on year, although the frequency of cinema going still lags far behind that of other CEE countries. We look forward to continuing to open new multiplexes here and supporting the growth of cinema-going in Romania in the coming years.”

Cinema City now has 12 multiplexes in 10 cities across Romania: Bucharest (Cotroceni&IMAX and Sun Plaza), Iasi, Timisoara, Pitesti, Bacau, Cluj, Braila, Baia Mare, Arad and Turgu Mures. Romania is the country, where Cinema City enjoys the most intensive organic growth of its cinema circuit. The Company has 24 binding lease agreements signed for cinemas located in shopping centers, with openings scheduled mostly in 2012-2013. The next Cinema City opening in Romania is scheduled for 2012 in the city of Constanza.

In the first nine months of 2011 Romanian operations generated revenues of EUR 15.9 million (+19.6% year on year), some 8% of total Company revenues. In Romania, Cinema City sold 2.7 million tickets in the first nine months of 2011 (+19.5% year on year). The Company also runs cinema-related businesses: cinema advertising through New Age Media and film distribution through Forum Film Romania, which is the exclusive distributor of Walt Disney Studio.