iPic® Entertainment Announces Agreement to Partner With BAS Global Investments Company to Develop World-Class Luxurious iPic Theaters and Restaurant Locations in Saudi Arabia
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
Company Research
Source: GlobeNewswire
BOCA RATON, Fla., March 08, 2018 (GLOBE NEWSWIRE) -- iPic® Entertainment (“iPic” or the “Company”) (NASDAQ:IPIC), America’s premier luxury restaurant-and-theater brand, today announced the signing of a Memorandum of Understanding to develop its one-of-a-kind, world-class luxurious iPic® theater-and-restaurant locations throughout the Kingdom of Saudi Arabia. iPic® has formed a partnership with BAS Global Investments Company, a well-known Saudi group. This relationship reflects the Company’s strategy to pursue international asset-light licensed agreements. This is a monumental time for the Kingdom of Saudi Arabia as it is now allowing movie theaters to open for the first time in more than 35 years. With roughly two-thirds of the local population under 30 years of age, the country’s demographics play into iPic®’s strength as a social entertainment destination that is also an affordable luxury. Through this partnership, the Company believes there are significant expansion opportunitie
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