The Broadway theater in Plaza Hollywood, Diamond Hill, which has been in operation for more than 10 years, announced its closure in February this year.
Lai Sun Development (0488) mentioned in its results earlier that its subsidiary, Fonderly, through a joint venture company and one of the major cinema operators in Hong Kong, will undertake a cinema venue at Plaza Hollywood, Diamond Hill, Kowloon. The new cinema is expected to be in Opening in the third quarter of this year, it is believed that it is the venue for this Broadway theater.
Today (31st) Emperor Cinemas Group and Lai Sun Group MCL Cinemas announced the cooperation to develop two new brands, namely "Emperor Cinemas Plus+" and "MCL Cinemas Plus+".
Among them, the cinema at Plaza Hollywood in Diamond Hill will be rebuilt by "MCL Cinemas" and named "MCL Cinemas Plus + Plaza Hollywood". It is the largest cinema in East Kowloon and will open this summer.
The Broadway Cinema Line announced on February 11 this year that one of its theaters at Plaza Hollywood in Diamond Hill will be closing.
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As for the "Emperor Cinemas Plus+" project hosted by "Emperor Cinemas", it will also be launched soon.
The two companies stated that they have always been actively expanding the cinema industry and have always been optimistic about the prospects of the industry.
Although the Hong Kong and even the global film market has been hit hard by the COVID-19 epidemic in the past two years, the company firmly believes that films will always be a popular entertainment for the general public; after the epidemic, consumption patterns will gradually recover, and audiences’ demand for movies in theaters will also increase. There will be an increase.
The company hopes that through this breakthrough cooperation, the strengths of both parties will be gathered to face challenges together, get out of the haze, and bring better and longer-term development to the theater industry.
The COVID-19 epidemic in Hong Kong has become increasingly severe since January this year. As the government has tightened anti-epidemic measures, many industries are facing pressure to close down.
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According to the performance report, Lai Sun Development operates 14 theaters in Hong Kong, with a total of 74 theaters providing more than 11,000 seats.
The owner of Plaza Hollywood, Chairman of Wharf Properties (1997), Mr. Wu Tianhai, revealed at the beginning of the month that after the Broadway Cinemas closed at the end of the month, the new tenants were still the major cinema operators in Hong Kong.