Cinema City opens in Burgas, Bulgaria
Cinema City opens in Burgas, Bulgaria.
3rd Cinema City opened in 2012.
Today Cinema City International opens its 10screen multiplex in Galleria Burgas shopping mall in Burgas, Bulgaria. The cinema has 1 664 seats and is 100% digital, with 5 halls equipped with the 3D system. Cinema City in Galleria Burgas is the 3rd multiplex opened by the Company in the first half of 2012. Currently in Bulgaria Cinema City operates 51 screens in 5 multiplexes.
“I am proud to open the Cinema City multiplex in Burgas, already the 5th Bulgarian city, where we will be offering as always top cinema experience .As we very often emphasize one of the assets of CCI is our close relation with leading developers in the region. One of them is GTC where our strong bono with them lead us to a 6th project between the companies, and the strategy allows us to be anchor tenant in the prime locations in many European cities.” said Moshe J. Greidinger, CEO of Cinema City, the largest multiplex cinema operator in Central & Eastern Europe and in Israel “This year we also plan to open our second multiplex in Sofia and thus to operate 65 screens in the country at the end of the year. I look forward to a warm welcome from the audience in our new multiplexes.”
Cinema City in Bulgaria has 5 multiplexes with 51 screens in 5 cities: Sofia (13 screens including IMAX theatre), Plovdiv (11 screens), Stara Zagora (7 screens), Burgas (10 screens) and in Rousse (10 screens). Burgas is the second-largest city on the Bulgarian Black Sea Coast and fourth-largest in Bulgaria after Sofia, Plovdiv and Varna. It is the capital of Burgas Province and an important industrial, transport, cultural and tourist center.
The Company has good perspective for development in Bulgaria. The next opening is scheduled in Sofia in the 4th quarter of 2012, when Cinema City plans to open a 14 screen multiplex. In the future Cinema City also plans to open the cinema in Varna
In 2011 Bulgarian operations generated EUR 9.1 million (increase by 13.2% over 2010), which were 3.4% of the Company’s total revenues in 2011. In Bulgaria Cinema City sold almost 1.6 million tickets last year (increase by 15.7% over 2010). In addition to the theatre operation, the Company also runs cinema-related businesses: cinema advertising through New Age Media and film distribution through Forum Film Bulgaria, which is the exclusive distributor of Walt Disney Studio, Paramount, Universal Studio and other independent studios.
Cinema City International is the largest multiplex cinema operator in Central & Eastern Europe and in Israel. The Company operates 97 multiplexes with 919 screens, in 7 countries (Poland, the Czech Republic, Hungary, Romania, Bulgaria, Slovakia and Israel). There are 30 more multiplexes under development, which will offer approximately 320 new screens. In addition, Cinema City is actively involved in cinema related advertising and film distribution.
In 2011 Cinema City sold 35.5 million tickets in 7 countries, 16.2% more compared to 2010.
The Cinema City group employs over 4,000 people in 7 countries.
For more information, please contact:
Director of Investor Relations
tel. (+48) 22 566 69 60 / mobile: (+48) 510 024 028