Village Roadshow of Australia and EAP Group of Sri Lanka last week signed up an MOU through which Village Cinemas and EAP Films and Theatres Ltd will jointly look at opportunities to develop modern cinema multiplexes in Sri Lanka.
Under this MOU both the companies are hoping to set up a Joint Venture (JV) in Sri Lanka, taking advantage of the Sri Lankan Government’s incentives offered for multiplex cinemas. It is envisaged that the Sri Lankan public will be benefited by world-class cinema offerings in both content and facilities.
Village is a world leader in the cinema industry with some of the best cine multiplexes on offer and is part of the Village Roadshow Group which also has interests in Theme Parks, Film Distribution and Film Production. EAP is a leader in the Sri Lankan film industry in Production, Distribution, Exhibition and Importation of films.
As part of this MOU, Village Roadshow and EAP Group, also agree to explore other opportunities in Sri Lanka such as Theme Parks, Satellite Pay TV, Property, Digital Multimedia Advertising and other Cinema related value added revenue streams.
The arrangements were negotiated by COO of Village Roadshow Group Clark Kirby, CEO of Village Cinemas Kirk Edwards, Chairman/MD of EAP Group Mano Tittawella, Ajith Amarasekera, Director/CEO of Galaxy Landmarks, the EAP Group’s Property Development arm and Kasun Jayawardena, COO of EAP Films and Theatres in Melbourne, Australia on Friday August 28, 2015.