Quicklets: Learn More. Read Less.First released in 1942, over the years Casablanca has come to be known as one of the greatest films in the history of American cinema. With a production budget of approximately $950,000, Casablanca has grossed over 10 million dollars.Casablanca was a major success at the 16th Academy Awards, taking home Oscars for Outstanding Motion Picture, Best Director (Michael Curtiz), and Best Writing, Screenplay (Julius J. Epstein, Philip G. Epstein, and Howard Koch). Casablanca was also nominated for a number of other Academy Awards including Best Actor (Humphrey Bogart for his role as Rick Blaine), Best Supporting Actor (Claude Rains for his role as Captain Renault), Best Cinematography (Arthur Edeson), Best Film Editing (Owen Marks), and Best Music (Max Steiner).The American Film Institute (AFI) ranked Casablanca as the third greatest movie of all time.