Saudi Arabia will open its first cinema in 30 years on April 18. AMC Entertainment has been granted the first license to operate cinemas, with Saudi state media saying the US giant is expected to open 40 cinemas across 15 Saudi cities over the next five years. The first theater will be opened in the capital, Riyadh, said authorities. "AMC plans to open the kingdoms first cinema theatre in Riyadh on April 18," the information ministrys Center for International Communication said in a statement. The news comes after AMC Entertainment signed a non-binding agreement in December with Saudi Arabias Public Investment Fund to build and operate cinemas across the Kingdom. "The granting of the first license marks the opening of very significant opportunities for exhibitors," Information Minister Awwad Alawwad was quoted as saying in the statement. "The Saudi market is very large, with the majority of the population... eager to watch their favorite films here at home." International theater chains have long eyed the Kingdom as the Middle Easts last untapped mass market of more than 30 million people, the majority of whom are under 25. Wednesday’s announcement was made on the sidelines of a three-week visit paid to the United States by Crown Prince Mohammed bin Salman, Deputy Prime Minister and Minister of Defense. He had arrived this week in Los Angeles, the fifth stop of his multi-city tour of the country. He has so far met with several media and film industry executives, including chairman and CEO of The Walt Disney Company Robert Allen Iger, Warner Bros. Chairman Kevin Tsujihara and Magic Leap CEO Rony Abovitz.