BUENOS AIRES — Village Cinemas inaugurated Tuesday a lavish multiplex in the most elegant area of Buenos Aires, La Recoleta.
The state-of-the-art 16-screen plex is expected to bring Village some $500,000 in monthly receipts from an expected 20,000 people a weekend. Village also is hoping to see hefty revenues from the 12 concession stands, as well as from the rents paid by 25 tenants, which include McDonald’s and Tower Records.
This is the seventh site Village has in Argentina.
The company is controlled 55% by Australian-based Village Roadshow, 25% by New Zealand’s Force Corp. and 20% by Argentine partner Southern Screens.