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RIYADH: Hospitality firm Abdulmohsen Alhokair Group for Tourism and Development has signed two contracts totaling SR94 million ($25 million) with a company that specializes in the establishment and operation of international brands.
Alhokair aims to operate entertainment sites operated by PlayOCity by Hasbro for SR49 million and by “Cocomelon” for SR45 million, according to a bourse filing.
Alhokair said it has the exclusive right to both brands.
The financial impact of the contract will likely appear in the fourth quarter of 2022 through the end of the contract’s term.