After Vue International signed a deal with Riyadh based Abdoulmohsin Al-Hokair Holding Group, it is set to open 30 multiplex cinemas in Saudi Arabia over the next 3 years.
Vue Entertainment, which is also known as Vue Cinemas and stylized as Vue, is a cinema company operating in the UK, the Netherlands and the Republic of Ireland.
Vue has 85 cinemas in the United Kingdom, which makes it the third largest cinema chain in the United Kingdom.
The company expanded through numerous acquisitions, which includes Apollo Cinemas, the Ster Century chain, and Multikino. A management buyout with the backing of the Bank of Scotland Corporate was completed by Vue’s executive team in June 2006, taking a 51 percent stake in the business and purchasing the remaining four Warner Village sites it had been operating under contract from Village Roadshow.
Doughty Hanson & Co bought the company in 2010 and in June 2013, they sold it to the Canadian firms OMERS and Alberta Investment Management Corporation for £935 million.
The original slogan of the company was entitled The Future of Cinema, and it was used from its opening in May 2003 until November of 2015. Afterwards, the company decided to have a change, with a new rebranding and from orange covering to black with a new slogan Big Screen Entertainment which has remained that way since then.
Following the announcement last December that Saudi Arabia would lift the ban on commercial cinemas for the first time in thirty five years, the official memorandum of understanding was signed.
Since last October Vue International had been in talks with Riyadh, after the operator was the only cinema chain to be invited to the Future Investment Initiative event held that month.
Founder and chief executive of Vue International said in an official statement that this is a big moment in the history of global cinema development for the exhibition industry and that they are honored to be partnering with such a well-regarded and prestigious operator.
He added that Cinema has been a thrilling form of out of home entertainment for over a century and the opening up of the Kingdom is evidence of the industry’s ongoing progress and resilience.
Al-Hokair Group is the company known for building and operating leisure and hospitality complexes in the region, and it currently owns and operates 3 shopping centers, 79 entertainment centers and 45 hotels in Saudi Arabia, Turkey, UAE and Egypt.