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An AMC Entertainment movie theatre An AMC Entertainment movie theatre

AMC Entertainment Announces MoU with PIF

Hailed as the largest cinema operator in the world, AMC Entertainment has announced a non-binding memorandum of understanding (MoU) with The Public Investment Fund of Saudi Arabia (PIF).

In line with the PIF’s mandate to help unlock promising new sectors within Saudi Arabia, together with AMC Entertainment, the fund will explore a range of commercial opportunities for collaboration.

The agreement builds on the General Commission for Audiovisual Media’s decision to grant domestic licenses to cinema providers, and supports the Vision 2030 objective of growing household spending on entertainment from 2.9 percent to six percent of GDP.