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Spring
Bows For Trio of SItes
Yelmo Launches 50 in Spain
MADRID
– Yelmo Cineplex, a joint venture of Loews Cineplex
and Yelmo Film, opened 50 new screens at three sites
in Spain during April and May.
An
April 18 bow greeted the circuit’s Malaga 20-plex;
May 16 saw the debut of its Malaga 16-plex; May 22 was
the launch date for its 14-plex in Oviedo.
Each multi features indoor box offices, large concession
stands with expanded menus, areas dedicated to guest
services and free, secure parking for patrons. Auditoria
feature wall-length screens, digital sound, stadium-style
seating and individual cupholders.
 Both
new Malaga sites, the Plaza Mayor Center 20-plex and
the Rincon de la Victoria 16-plex, are said to have
already generated box office revenues beyond circuit
expectations. The Los Prados 14-plex in Oviedo also
exceeded first-week projections.
“I
am very pleased with the results of each of these projects,”
said Yelmo Cineplex president and managing partner Ricardo
Evole. “Plaza Mayor is our biggest and most exciting
project to date, and the results in these complexes
demonstrates the overwhelming response from our customers.”
Yelmo
currently operates 209 screens at 21 sites in Spain,
with 40 screens slated for a September 2002 bow, and
an additional 11 screens due the following March. 
81
Screens Over Next 3 Years
Cines Abaco To
Double by 2005
SALAMANCA, Spain – Cines Abaco announced on July
2 plans to invest 48 million Euros in a circuit expansion
that will see it add 81 screens at seven sites over
the next three years.
Abaco currently operates 83 screens at nine sites, and
is part of CAEC, a three-way joint venture – with
Lauren Films and Cinebox – which operates 370 screens
at 51 sites in Spain.
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Mexican
Chain for Loews Owner
Onex Takes Majority
Stake in Cinemex
TORONTO – Onex, Canadian parent company of recently
restructured Loews Cineplex, announced on June 19 the
acquisition of a majority stake in Mexican exhibitor
Grupo Cinemex.
According
to Variety, Onex paid $123.5 million for a 58 percent
stake in the Mexican circuit while Oaktree Capital will
provide an additional $89 million for the remaining
42 percent.
Toronto-based
Onex bought Loeks-Star in April 2002 following its March
2002 acquisition of Loews. With its acquisition of the
Mexico City-based circuit, Onex controls 2,877 screens
at 296 sites in the United States, Canada, Mexico, Spain
and Korea.
Rising
Star Joint Venture
NA 11-Plex
For Moscow
MOSCOW – National Amusements on June 24 announced
plans to open a Moscow 11-plex through Rising Star Media,
its new joint venture with Russian cinema vet Paul Heth.
Expected
to open next spring as Russia’s largest cinema
site, the multi will serve as a component of a new retail
and entertainment center developed by IKEA Russia. The
cinema complex will offer a wide variety of concessions,
two dining lounges and live entertainment.
Under
the banner “Kinostar,” the 3,500-seat venue
will also feature auditoria with digital sound, wall-length
screens and stadium-style seating, as well as two “Director’s
Halls,” which will provide patrons with oversized
leather seating and personalized food service.
“We
are so pleased to be entering the Russian market,”
said NA president and Rising Star Media CEO Shari E.
Redstone. “We look forward to providing the families
of Moscow with an entertainment venue that combines
the best of both worlds – Russian culture and European
sophistication blended with our experience in operating
western-style cinemas.”
Oslo-based
Circuit
Finnkino 14 For Latvia
OSLO, Finland – Finnkino OY announced in June plans
to build a 6-story, $39 million project encompassing
a 3,000-seat 14-plex and retail space in Riga, Latvia.
The
circuit plans to contribute $16.2 million to the retail
project while the remaining $23 million will be funded
by department store group Stockmann.
Finnkino
operates 69 screens at 15 sites in Finland, and operates
23 screens at seven sites in the Baltic States through
subsidiary exhibitors.
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