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…

Topics:  amc entertainment holdings inc   amc cinemas   the leawood-based    nyse   amc     black   panther    at   amc    amc   saudi arabia   theater   operator   ban   
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