Two cinematic legends took the stage Wednesday in Las Vegas when Warren Beatty presented veteran producer Arnon Milchan with the "Legend of Cinema Award" at CinemaCon.

"I think I deserve another small round of applause because I wore a neck tie," joked Beatty as he stepped to the podium in front of the roomful of exhibitors.

Beatty is currently working on his passion project, a yet-untitled film about Howard Hughes, with the veteran producer who has made more than 130 films including The Revenant along with The Big Short, 12 Years a Slave, Birdman, Once Upon a Time in America and L.A. Confidential.

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