Cinema City signs lease terms for the cinema in Lublin, Poland. Second Cinema City in Lublin to open in 2015.
Today Cinema City International, N.V. (WSE:CCI) (“CCI”) announced that Cinema City Poland sp z o.o. has signed a lease agreement with Gala SA for the multiplex in Lublin in the shopping mall Gala. The cinema is planned to have 10 screens and it should open before the end of 2015.
Current report no 8/2011
“We opened our first multiplex in Lublin in 2007 and since that moment we enjoy a great popularity in this location. Poland is the country, where cinema going habit is growing every year supported by our modern multiplexes and the best client service we offer in each of them.” said Moshe (Mooky) Greidinger, CEO of Cinema City, the largest multiplex cinema operator in Central & Eastern Europe and in Israel. "We will continue to open new multiplexes and do our best so that people will keep coming back again and again to Cinema City to see another good film”.
Cinema City Poland has signed a lease agreement with Gala SA. to lease area for multiplex in the shopping mall Gala (working name). The cinema will have 10 screens. Cinema City has 30 multiplexes in Poland with a total 331 screens. The Company operates 5 Orange IMAX® theatres in the country. In Poland Cinema City has lease agreements for additional 5 multiplexes with close to 60 screens in: Toruń, Kielce, Łódź, Gdańsk and Lublin. The Company plans to open the cinema in Toruń this year.
Poland is by far the largest market of operation for Cinema City, where it operates 46% of its all screens. In Poland Cinema City is also a leader of cinema advertising run by its subsidiary New Age Media. The film distribution in the Group is run by Forum Film Poland being exclusive representative of the Walt Disney Studio in the country. The Company has implemented its own Internet ticket sales system across the country. Tickets in all Cinema Cities and Orange Imax can be bought on www.cinema-city.pl .
In 2010 Poland brought 51% of the total group’s revenues. Cinema City Poland sold 15 million tickets. Cinema City International NV is listed on the Warsaw Stock Exchange.
Cinema City International is the largest multiplex cinema operator in Central & Eastern Europe and in Israel. The Company operates 94 multiplexes with 887 screens, in 7 countries (Poland, the Czech Republic, Hungary, Romania, Bulgaria, Slovakia and Israel). There are 35 more multiplexes under development, which will offer approximately 360 new screens. In addition, Cinema City is actively involved in cinema related advertising and film distribution.
In 2010 Cinema City sold 30.5 million tickets in six countries, 11.1% more compared to 2009.
The Cinema City group employs over 4,000 people in 7 countries.