World’s largest cinema operator continues expansion drive in Saudi Arabia

AMC operates cinemas in 15 countries across Europe and the Middle East.
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Updated 07 December 2020
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World’s largest cinema operator continues expansion drive in Saudi Arabia

  • The Kingdom allowed the reopening of cinemas for the first time in more than three decades in April 2018

RIYADH: AMC Entertainment Holdings, the world’s largest movie exhibition company, has opened a sixth movie theater in Saudi Arabia as part of its ambitious plans to expand to 50 locations by 2024.

The Kingdom allowed the reopening of cinemas for the first time in more than three decades in April 2018. To capitalize on this, AMC established the Saudi Cinema Co. (SCC), a joint venture with Saudi Entertainment Ventures (SEVEN), an entity set up by the Public Investment Fund (PIF) to be the investment and development arm for the entertainment sector.

The opening on Thursday of the new cinema at Azizia Plaza in southern Riyadh was the SCC’s fifth outlet in the Saudi capital, with the sixth located in Hafr Al-Batin.

The new theater offers cinemagoers modern facilities, five-star food and beverages services, 4K Barco laser projectors, immersive surround sound and Luxe recliner and plush rocker seating. Every seat also comes with a table and USB charging port.

Speaking at the opening, John Iozzi, CEO and managing director of AMC Cinemas, said: “It gives us great pleasure to have opened our newest location in the Kingdom. AMC Azizia Plaza 3 is part of our continued expansion across Saudi Arabia and we are excited to bring our brand of first-class cinema experience to a new audience.”

“We are committed to supporting the goals of Saudi Arabia’s Vision 2030 plan to improve the choice and quality of entertainment under the Quality of Life Program. We will continue to provide innovative, luxury cinema formats for every taste as part of our ongoing development program across the Kingdom,” Iozzi said.

SCC has set a target to open 20 theaters by the end of 2021 and reach its goal of 50 outlets and 500 screens across the Kingdom within four years.

As well as the US, AMC operates cinemas in 15 countries across Europe and the Middle East.

Competitor Vox Cinema is also expanding quickly, opening its eleventh movie theater in Saudi Arabia last week.


Closing Bell: Saudi main index closes in red at 11,183

Updated 16 February 2026
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Closing Bell: Saudi main index closes in red at 11,183

RIYADH: Saudi Arabia’s Tadawul All Share Index dipped on Monday, losing 44.79 points, or 0.4 percent, to close at 11,183.85.

The total trading turnover of the benchmark index was SR4.05 billion ($1.08 billion), as 69 of the listed stocks advanced, while 191 retreated.

The MSCI Tadawul Index decreased, down 6.63 points or 0.44 percent, to close at 1,504.73.

The Kingdom’s parallel market Nomu lost 328.20 points, or 1.36 percent, to close at 23,764.92. This comes as 22 of the listed stocks advanced, while 49 retreated.

The best-performing stock was Maharah Human Resources Co., with its share price surging by 7.26 percent to SR6.50.

Other top performers included Arabian Cement Co., which saw its share price rise by 6.27 percent to SR22.71, and Saudi Research and Media Group, which saw a 4.3 percent increase to SR104.30.

On the downside, the worst performer of the day was Arabian Internet and Communications Services Co., whose share price fell by 8.01 percent to SR207.80.

Jahez International Co. for Information System Technology and Al-Rajhi Co. for Cooperative Insurance also saw declines, with their shares dropping by 5.61 percent and 4.46 percent to SR12.79 and SR75, respectively.

On the announcement front, Etihad Etisalat Co. announced its financial results for 2025 with a 7.9 percent year-on-year growth in its revenues, to reach SR19.6 billion.

In a Tadawul statement, Mobily said that this growth is attributed to “the expansion of all revenue streams, with a healthy growth in the overall subscriber base.”

Mobily delivered an 11.6 percent increase in net profit, reaching SR3.4 billion in 2025 compared to SR3.1 billion in 2024.

The company’s share price reached SR67.85, marking a 0.37 percent increase on the main market.