Cinema City opens in Pitesti, Romania (2 September 2009)
The 5th Cinema City in Romania opened. The megaplex next in line.
Cinema City International N.V. (“Cinema City”) is opening today a multiplex of 6 screens and 1 200 seats in Pitesti, Romania. The cinema will be equipped with a digital screen with a 3D device. It’s the 5th Cinema City in Romania. Towards the end of the year the Company plans to open its largest cinema in the country, the 21 screen megaplex including an IMAX theatre in Palace Cotroceni Shopping Mall in Bucharest.
“Romania is the country, where we are progressing with the most intensive investment program. Opening of the cinema in Pitesti is taking the number of our Romanian screens up to 36 and towards the end of the year we are planning to open in Bucharest our largest megaplex in the country with 21 screens.” said Nisan Cohen, Deputy CFO of Cinema City, the largest multiplex cinema operator in Central & Eastern Europe and in Israel. “Following the opening of the multiplex in Pitesti our Romanian screens account for 6% of all Cinema City screens but in the coming years Romania will become our second largest country of operations.”
Currently in Romania Cinema City operates 5 cinemas with 36 screens and it has binding agreements for additional 30 cinemas with 299 screens with openings scheduled in the years 2009-2012. The Company is continuing to install digital projectors in each of its cinemas in Romania. In the first 6 months of 2009 the Company sold 527 thousand tickets in the country, 126% more compared to the first 6 months of 2008. Romanian operations accounted for 2% of the total Cinema City revenues.
Next opening in Romania will take place in the 4th quarter in Bucharest in the Palace Cotroceni Shopping Mall, where Cinema City will open a 21 screen megaplex including the only IMAX theatre in the country. This megaplex will the first Cinema City in the capital of Romania and it’s expected to increase significantly the volume of the Company’s Romanian operations.
In Romania Cinema City is also providing cinema advertising services through the company New Age Media.
Cinema City International is the largest multiplex cinema operator in Central & Eastern Europe and in Israel. The Company operates 66 multiplexes with 609 screens, in 6 countries (Poland, the Czech Republic, Hungary, Romania, Bulgaria and Israel). There are 44 more multiplexes under development, which will offer additional 466 screens. In addition, Cinema City is actively involved in cinema related advertising and film distribution.
The Cinema City group employs over 3,000 people in 6 countries.