AMC plans up to 100 theaters in Saudi Arabia by 2030 [Los Angeles Times (CA)]
IPIC ENTERTAINMENT INC A (IPIC)
US:NASDAQ Investor Relations:
globenewswire.com/news-release/2018/02/01/1330161/0/en/ipic-entertainment-announces-closing-of-its-initial-public-offering.html
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Source: Los Angeles Times
AMC plans up to 100 theaters in Saudi Arabia by 2030 AMC Theatres, the world's largest cinema operator, said Wednesday that it plans to open up to 100 theaters in Saudi Arabia by 2030, the latest sign of the chain's desire to become a major player in the kingdom's nascent entertainment industry. Leawood, Kansas-based AMC and the entertainment subsidiary of Saudi Arabia's Public Investment Fund have signed a deal to operate cinemas in the kingdom, with 40 locations expected to open within five years, the theater company said. The deal follows almost four months after the government said it would grant licenses to open movie theaters for the first time in 35 years. The first theater in Saudi Arabia, an AMC Cinema in Riyadh's King Abdullah Financial District, is set to open April 18. AMC, whose biggest shareholder is Chinese conglomerate Dalian Wanda Group, hopes to control 50% of the Saudi Arabian theater industry. Theater owners, movie studios and media companies have been moving quick
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