AMC Entertainment Holdings Inc., the first operator to enter Saudi Arabia after it lifted a ban on movie theaters, has sold its stake in the venture for $30 million but will continue to license its AMC Cinemas name in the kingdom for current and future locations.
The Leawood-based company (NYSE: AMC), the world’s largest theater operator, entered Saudi Arabia in 2018, ending the nation’s 35-year ban on cinemas with a showing of “Black Panther.” At the time, AMC planned to operate as many…AMC Entertainment exits theater business in Saudi Arabia
AMC Entertainment Holdings Inc., the first operator to enter Saudi Arabia after it lifted a ban on movie theaters, has sold its stake in the venture for $30 million but will continue to license its AMC Cinemas name in the kingdom for current and future locations.
The Leawood-based company (NYSE: AMC), the world’s largest theater operator, entered Saudi Arabia in 2018, ending the nation’s 35-year ban on cinemas with a showing of “Black Panther.” At the time, AMC planned to operate as many…