A licence for a fourth cinema has been granted to Lux Entertainment Co to operate in Saudi Arabia, in partnership with Al Hokair Group for Tourism and Development, Sinopolis International and Al-Taeir Group, Saudi Gazette reported.
Media Minister Dr Awwad bin Saleh Al Awwad handed over the licence to the consortium, which plans to launch 300 cinemas in 15 cities and towns across Saudi Arabia within five years.
In December 2017, the General Commission for Audiovisual Media approved the issuance of licences to open cinemas in order to support the film sector, stimulate economic growth and diversification, and provide job opportunities.
In June 2018, Al Awwad handed over the third cinema operation licence to the Al-Rashed United Group — Empire Cinema. The company is looking to build 30 theatres in several Saudi cities over the next three years.
In April 2018, Vox Cinemas, a subsidiary of Majid Al Futtaim, won the second licence to operate cinemas in the kingdom. Majid Al Futtaim plans to invest SR2 billion to open 600 screens and provide 3,000 jobs in the next five years.
AMC Entertainment Holdings Inc was granted the first cinema licence in Saudi Arabia. AMC will open around 40 cinemas in 15 Saudi cities over the next five years.