Cinema City signs three lease agreements with Plaza Centers in Poland
Cinema City will add 3 new projects in Poland.
Cinema City International N.V. (“Cinema City”) signed lease agreements with Plaza Centers to operate multiplexes in Łódź, Kielce and Toruń with a total of 30 screens. Following the signature of these agreements in 2012 Cinema City will operate in Poland close to 400 screens in 36 cinemas.
“Poland is our largest market of operations and it still represents a significant potential for our expansion. We are very happy to add our second multiplexes in the cities of Łódź and Toruń and to open our first multiplex in Kielce.” said Moshe (Mooky) Greidinger, CEO of Cinema City, the largest multiplex cinema operator in Central & Eastern Europe and in Israel. “The cinemagoing statistics show that Poles enjoy watching films in the cinemas and admission per capita in the country will probably reach 1 this year. However Poland still remains behind Western Europe level and a vague reason for this are existing gaps in multiplex infrastructure in many Polish cities”
The agreement provides for opening the multiplexes in Łódź (12 screens), Toruń (8 screens) and in Kielce (10 screens). Openings are scheduled in approx. 2 years.
In Poland Cinema City is operating 27 multiplexes with 296 screens including 53 auditoriums with digital projectors, which allow to show films in digital and digital 3D. The Company has binding agreements to open additional 9 multiplexes with over 100 screens in the coming three years. In Poland Cinema City is also providing cinema advertising services through the company New Age Media and film distribution through Forum Film Poland.
In 2008 the Company sold 12.6 million tickets in Poland. Poland is the largest market of operations for Cinema City with 54% share in the total Company’s revenues in 2008.
“In these three locations we are continuing our ongoing relations with Plaza Centers. Our longstanding relationship, based on successful projects across the region in Hungary, the Czech Republic and Poland translates into expansion of our high quality entertainment venues, which are located in the prime shopping centers” – added Moshe (Mooky) Greidinger.
Cinema City International is the largest multiplex cinema operator in Central & Eastern Europe and in Israel. The Company operates 69 multiplexes with 650 screens, in 6 countries (Poland, the Czech Republic, Hungary, Romania, Bulgaria and Israel). There are 44 more multiplexes under development, which will offer over 453 new screens. In addition, Cinema City is actively involved in cinema related advertising and film distribution.
In 2008 Cinema City sold 22.2 million tickets in six countries, 12% more compared to 2007.
The Cinema City group employs over 3,000 people in 6 countries.