Godzilla is one of the most recognizable movie monsters in the history of cinema. Yes, he gets more props than King Kong. More accolades than Dracula. And Frankenstein wishes he had as much swag as the King of Monsters.  Legendary and Warner Bros. are betting that the monster of all monsters will be a major box office draw when it hits theaters on May 16.  Prognosticators believe the film has the potential to bring in over $70 million domestically.

Foreign tallies are expected to double the U.S. grosses, with B.O. projections in the $500 million to $600 million range globally. But even if Godzilla has the type of opening day the studios are hoping, that still doesn’t mean it’ll recoup on its investment.  The film cost a shade under $100 million to make and it will also go up against Sony’s The Amazing Spider-Man 2, which will premiere two weeks before, and Fox’s X-Men: Days of Future Past, which is tabbed to hit theaters the following week.

Warner Bros. and Legendary are tasked with redeeming Godzilla 16 years after Roland Emmerich’s big-budget version opened to lackluster reviews and grossed only $6 million more Stateside than its $130 million production budget. In fact, the last three Godzilla movies have flopped domestically, with Godzilla 1985 grossing $4 million and Godzilla 2000 earning $10 million.

Breaking Bad star Bryan Cranston stars alongside the iconic reptile in Edwards’ upcoming pic. Aaron Taylor Johnson (Kick Ass) and Elizabeth Olson co-star.

WB is distributing Godzilla worldwide except in Japan, where it will be distributed by the monster’s owner, Toho, though it won’t return to its country of origin until July 25.