Saudi Arabia Enters the Entertainment World with $2.7-B Investment

Saudi Arabia Enters the Entertainment World with $2.7-B Investment

Saudi Arabia Enters the Entertainment World with $2.7-B Investment

Saudi Arabia’s sovereign wealth fund is creating an entertainment investment company as the conservative Kingdom loosens it reins on the fun zone.

The Kingdom’s Public Investment Fund announced Wednesday it will develop the new company with an initial capitalization of $2.7-B

Its aim will be to provide investment capital to Saudi Arabia’s nascent entertainment industry, which aims to create around 22,000 jobs in the country by Y 2030. The Kingdom is in talks to open a Six Flags theme park.

In an effort to grow the economy and diversify revenue streams away from Crude Oil, where prices remain at 50% of what they were in Y 2014, Saudi Crown Prince Mohammed bin Salman has outlined plans to 2X what Saudi families spend locally on entertainment now.

Stay tuned…

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Paul Ebeling

Paul A. Ebeling, polymath, excels in diverse fields of knowledge. Pattern Recognition Analyst in Equities, Commodities and Foreign Exchange and author of “The Red Roadmaster’s Technical Report” on the US Major Market Indices™, a highly regarded, weekly financial market letter, he is also a philosopher, issuing insights on a wide range of subjects to a following of over 250,000 cohorts. An international audience of opinion makers, business leaders, and global organizations recognizes Ebeling as an expert.

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