us chain amc signs deal to build and operate movie theaters in saudi arabia
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

US chain AMC signs deal to build and operate movie theaters in Saudi Arabia

Arab Today, arab today

Arab Today, arab today US chain AMC signs deal to build and operate movie theaters in Saudi Arabia

The country is expected to have more than 300 cinemas
Riyadh - Arab Today

Giant US cinema chain AMC Entertainment has signed a deal to build and operate movie theaters in Saudi Arabia after the Kingdom lifted a decades-old ban.
The deal, announced by AMC in a statement and confirmed by Saudi state media on Tuesday, will see the company form a joint venture with Saudi Arabia’s vast Public Investment Fund.
AMC said it hoped to “put the industry’s best foot forward” in Saudi Arabia as the country opens up to modern entertainment.
“This announcement is a historic moment for the theatrical exhibition industry and a tremendous opportunity to connect AMC’s movie products with the Kingdom of Saudi Arabia’s more than 30 million citizens, many of whom we know are movie fans based on their regular visits to cinemas in neighboring countries,” AMC CEO Adam Aron said in the statement.
The Kansas-based company is the biggest cinema operator in the world, with 11,000 screens concentrated in the US and Europe, many operating under its Odeon brand.
It will face stiff competition from regional heavyweights, namely Dubai-based VOX Cinemas, which is the leading operator in the Gulf and Middle East with more than 300 screens.
The CEO of VOX parent company Majid Al-Futtaim, Alain Bejjani, told AFP on Monday that it would be looking to expand into Saudi Arabia.
“We... are committed to developing Vox Cinemas in Saudi Arabia and (to) make sure that every one of our Saudi customers will have a Vox Cinema close to them where they will be able to experience what they have been experiencing outside Saudi Arabia — in Saudi Arabia,” he said.
Saudi Arabia announced on Monday it was lifting the ban as part of a far-reaching reform drive by Crown Prince Mohammed bin Salman.
The government said it would begin licensing cinemas immediately and the first movie theaters are expected to open in March.
The country is expected to have more than 300 cinemas — with over 2,000 screens — by 2030, giving rise to an industry that would contribute $24 billion to the economy, according to the Saudi culture ministry.

Source:Arabnews

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

us chain amc signs deal to build and operate movie theaters in saudi arabia us chain amc signs deal to build and operate movie theaters in saudi arabia

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

us chain amc signs deal to build and operate movie theaters in saudi arabia us chain amc signs deal to build and operate movie theaters in saudi arabia

 



GMT 01:18 2017 Monday ,08 May

Saudi artists seen 'pushing' boundaries

GMT 09:11 2017 Thursday ,02 November

New York City truck attack: what we know

GMT 02:35 2018 Wednesday ,10 January

"The Shape of Water" leads Bafta nominations

GMT 17:18 2017 Monday ,06 February

60 ISIS Suspects Detained in Ankara

GMT 21:49 2017 Sunday ,09 April

Sultanate of Oman condemns terrorist attack

GMT 17:26 2017 Sunday ,26 February

UN chief's envoy arrives in Cairo

GMT 07:29 2017 Tuesday ,04 April

Leadership congratulated on European victory

GMT 18:20 2011 Wednesday ,13 April

Organic eating

GMT 20:47 2016 Friday ,29 April

Palestinian writer from Gaza wins Arabic Booker

GMT 03:22 2017 Tuesday ,22 August

February20th-March20th

GMT 19:13 2016 Monday ,07 March

Chinese drama 'Wu Zetian' staged in New York

GMT 05:50 2017 Sunday ,12 February

Egypt inflation hits 29.6%

GMT 14:35 2017 Sunday ,26 February

16 churchgoers killed in road accident in Meghalaya
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2025 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday