AMC to Open Saudi Arabia’s First Movie Theater

MIDDLE EAST–AMC Theatres has been granted a license by the Development and Investment Entertainment Company, a subsidiary of the Public Investment Fund of Saudi Arabia, to operate the first movie theaters in Saudi Arabia, according to Variety.

April 5, 2018

AMC to Open Saudi Arabia’s First Movie Theater

AMC hopes to have more than 100 locations in the kingdom by 2030.

MIDDLE EAST–AMC Theatres has been granted a license by the Development and Investment Entertainment Company, a subsidiary of the Public Investment Fund of Saudi Arabia, to operate the first movie theaters in Saudi Arabia, according to

Variety

.

The first movie theater is slated to open in Riyadh, Saudi Arabia, later this month on April 19. Furthermore, the company says that it expects to open around 40 theaters in the next five years and 100 by 2030.

The large-scale move is the latest in a number of social and economic reforms driven by Crown Prince Mohammed bin Salam under the Vision 2030 banner. According to 

The New York Times

 the program aims to “open up the kingdom’s economy and near-total dependence on oil.” Most recently, in December, Saudi Arabia overturned a 35-year-old law that made movie theaters illegal.

Subscribe and receive the latest news from the industry.

Join 62,000+ members. Yes, it’s completely free.

You May Also Like

Loading..

Report

Loading..

This site uses cookies to provide you with the best user experience possible. By using License Global, you accept our use of cookies.