Santo Domingo.- Caribbean Cinemas, a prominent player in the regional film industry, has recently acquired the operational assets of several movie theaters operating under the Palacio del Cine brand in the Dominican Republic. This strategic acquisition encompasses the movie theaters located in the Sambil shopping center in Santo Domingo, as well as the forthcoming operation of Multiplaza Higüey in the province of La Altagracia.
With over 48 years of presence in the Dominican Republic, Caribbean Cinemas boasts a strong legacy in the region’s cinematic landscape, managing more than 600 movie screens across 15 countries. Wometco Dominicana, the operator of Palacio del Cine theaters, has been a trailblazer in supporting local productions and is part of a conglomerate dedicated to entertainment and dining experiences.
Expanding beyond the Dominican Republic, Caribbean Cinemas has established operations in Puerto Rico, Colombia, Mexico, and is set to enter the market in Panama. It’s emphasized that this transaction adhered to the country’s regulatory framework, ensuring compliance with existing regulations.