Butler brothers sell nine Irish cinemas to Odeon ICI

Wed, Jun 1, 2011, 01:00

ENTERTAINMENT ENTERPRISES, the company controlled by Ciaran and Colum Butler, has sold its cinema interests to Odeon UCI, five years after the brothers bought three cinemas from Odeon.

Yesterday, UK-based Odeon UCI announced it had bought nine cinemas from Entertainment Enterprises – two former UCI cinemas at Blanchardstown and Coolock; the UCI cinema at Newbridge; the former Ormonde cinema in Stillorgan, which is being refurbished; and the five Storm Cinemas in Cavan, Portlaoise, Limerick, Naas and Waterford. However, Odeon has been managing the day-to-day operations of the cinemas for Entertainment Enterprises since September 2006.

Entertainment Enterprises has also signed leases to operate a nine-screen cinema at Charlestown and a six-screen cinema at the Point in Dublin, which both form part of the transaction. Odeon is in discussions to include a 400-seat Imax screen at the Point.

Colum and Ciaran Butler’s other interests include the Leisureplex chain and TGI Friday’s restaurants.