SOFIA: Cinema City International's
Bulgarian unit has leased space in the Paradise Center shopping mall in Sofia
with plans to open a multiplex at the end of 2011. The ten-year lease is renewable
for five year periods.
Cinema City already operates a
multiplex in Sofia with the country's only IMAX screen.
is a country where our operations have still a sound potential to grow. In
Sofia we are present already five years," Moshe (Mooky) Greidinger, CEO of Cinema City, said
in a statement.
Cinema City is the largest multiplex cinema operator in Central and
Eastern Europe and in Israel. It currently operates four multiplexes
in the country with a total of 41 screens: in Sofia, Plovdiv, Russe and Stara
Zagora. The cinemas in Russe and Stara Zagora were opened during 2010. In 2011
Cinema City plans to open in shopping centers in Varna and Burgas. In 2010 its cinema
related operations in Bulgaria brought over EUR 8 million in revenues, selling
over 1.3 million tickets.
In Bulgaria Cinema City also
operates film distribution through Forum Film Bulgaria, the exclusive
representative of the Walt Disney Studio, Paramount and Universal studios in
Bulgaria. The company also offers cinema advertising via its subsidiary New Age
Cinema City International NV is listed on the
Warsaw Stock Exchange.