- IMAX ( NYSE: IMAX ) and AMC Entertainment's ( NYSE: AMC ) Saudi partner are expanding a deal to establish six new theaters in Saudi Arabia.
- Saudi Cinema Co. - operating as AMC Cinemas in a joint venture with AMC Entertainment - has agreed to six new IMAX with Laser systems around the country.
- That will bring the partnership to a planned 18 screens across 12 Saudi cities.
- "The resilience of moviegoing in Saudi Arabia has been one of the most prominent global success stories for cinemas over the past two years, and a key indicator of the pent-up demand for blockbuster filmmaking," says IMAX CEO Rich Gelfond.
- Saudi box office grew to nearly $240M in 2021, and took a place as a top 10 global market for IMAX's box office.
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IMAX, AMC partner on six new Saudi Arabia theaters