iPic Entertainment Inks MoU to Develop Theater-and-Restaurant Locations Across Saudi Arabia

iPic Entertainment (IPIC) said Thursday it signed a memorandum of understanding to develop its theater-and-restaurant locations throughout the Kingdom of Saudi Arabia. Shares climbed more than 5.5% intraday.

The company said iPic has formed a partnership with BAS Global Investments Company, a well-known Saudi group, according to a statement. This relationship reflects the company’s strategy to pursue international asset-light licensed agreements.

With roughly two-thirds of the local population under 30 years of age, Saudi’s demographics play into iPic’s strength as a social entertainment destination “that is also an affordable luxury”. Through this partnership, the company believes there are significant expansion opportunities for the iPic brand over time.

One thought on “iPic Entertainment Inks MoU to Develop Theater-and-Restaurant Locations Across Saudi Arabia

  1. One thing I’ve noticed is that often there are plenty of fallacies regarding the banks intentions while talking about property foreclosure. One fairy tale in particular is always that the bank desires your house. Your banker wants your cash, not your house. They want the bucks they loaned you with interest. Keeping away from the bank will undoubtedly draw a new foreclosed conclusion. Thanks for your write-up.

Leave a Comment