Cinema City opens Central Europe’s largest cinema in Budapest (16 January 2008)
§ Cinema City’s new megaplex opens today in the Arena Plaza mall in Budapest. It will be the largest cinema in Central Europe, with 23 screens and seating for 3,800 moviegoers. One of the halls is the first-ever IMAX® cinema in Hungary offering viewers a 3D experience.
§ The new megaplex is Cinema City’s 13th cinema in Hungary.
“We are proud to be able to open the largest cinema in Central Europe thus showing our confidence in the Central and Eastern Europe market in general and in the Hungarian market in particular,” said Moshe J. Greidinger, CEO of Cinema City, the largest multiplex cinema operator in Central & Eastern Europe and in Israel.
“In Hungary we began to develop the Cinema City chain in the CEE region 10 years ago,” the CEO added. “The opening of Cinema City Arena put us in a leading market position in Hungary, increasing the number of seats in our network in Hungary by nearly one-fourth, to more than 20,000 seats. At the same time, in addition to cinema operations, the opening of the new cinema will allow us to strengthen substantially our Hungarian offer in “on screen” and “off screen” advertising.”
The company’s megaplex is located in the newly opened Arena Plaza mall, the largest shopping and entertainment center in Hungary and one of the largest in Central & Eastern Europe. “Our cinema, like the mall as a whole, has an excellent location in the very center of the city,” said Moshe J. Greidinger. “It was built by our strategic partner Plaza Centers. We appreciate our long and fruitful cooperation with Plaza in the whole region.”
After opening of the new multiplex, the Cinema City chain in Hungary will include 13 cinemas with 109 screens. The chain as a whole, in its 6 operating markets (Poland, Hungary, the Czech Republic, Bulgaria, Romania and Israel), comprises 62 multiplexes with 534 screens.
Cinema City plans for further growth on the Hungarian market. The opening of the next multiplex in Budapest, with 13 screens, is scheduled for 2009.