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News & Rumors

 

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DUBAI PARKS & RESORTS
Dubai Parks & Resorts LLC, a Meraas Holding company

 

Amusement Resort complex featuring Riverland Dubai retail / dining area, the Lapita Hotel, and several theme parks:
MOTIONGATE Dubai (Opened Dec. 16, 2016)
BOLLYWOOD PARKS Dubai (Opened Nov. 15, 2016)
LEGOLAND Dubai - (Opened Oct. 31, 2016) & LEGOLAND Water Park (Opened Nov. 15, 2016)
SIX FLAGS DUBAI - CANCELED

 

----    THE LATEST BUZZ    ----
    (4/2/20) Dubai Parks & Resorts Negotiates New Financial Deal (MORE...)
    (3/10/20) Restructuring Ahead For Dubai Parks & Resorts (MORE...)
    (10/23/19) Dubai Parks and Resorts Sees Attendance Fall (MORE...)
    (8/12/19) Dubai Parks & Resorts Reports Declines in 2019 (MORE...)

 

icon_STOPResort News - (4/2/20) DXB has reached an agreement with their banks to defer a substantial amount of interest on a $1.1 billion loan over the next 15 months. According to NASDAQ the new agreement will improve the Dubai theme park resort’s “near-term liquidity”.
 
    (3/10/20) Bloomberg reports that two of Dubai’s biggest banks have bought out the loans for the DXB Entertainment resort and theme parks as part of a plan to support the struggling company. They say the banks bought the debt at a discount from the previous non-UAE based lenders to allow for owner, Merass Holding LLC,  to restructure the DXB Entertainment. According to the report DXB has not posted a profit since being listed in 2014 and is likely facing a challenging year ahead as virus concerns from potential guests are being added onto the list of troubles for the company. A shareholder vote is expected to take place on March 24th to approve DXB’s continued operations and go over plans to address the company’s losses.
 
    (10/23/19) According to this report attendance at the Dubai Parks and Resorts attraction complex dropped about 20% this quarter compared to last year, bringing in just 401,000 guests in Q3 2019 compared to 501,000 in Q3 2018. DXB placed the blame on a reduction in visits by local guests, and says they are shifting their focus on attracting more international guests to the site which currently makes up just 42% of their visitors.
    They claim to have big events on deck that they hope will draw in big numbers during Q4, but so far for the first nine months of 2019 they had 1.8 million guests, compared to 1.96 visits over the first nine months of 2018. The resorts on site hotel, Lapita, also averaged only a 60% occupancy rate over the first nine months of 2019.
 
    (8/12/19) The latest financial reports from DXB Entertainment indicates that revenue was down 13% for the first half of 2019, compared to the first half of 2018, with attendance also dropping from 1.46 million during the first six months of 2018 down to 1.4 million in 2019. The good news is that the ‘net loss’ in 2019 was actually 4% less than it was the year before due to cuts made to curb their operating costs.
    This article also confirms that they are working on future plans for their existing parks to add in 10 to 12 new attractions that were previously purchased for the now canceled Six Flags Dubai theme park.
 
    (7/4/19) In a settlement with Six Flags over putting the Six Flags Dubai theme park project on indefinate hold, DXB Entertainments will pay Six Flags $7.5 million. In exchange SF Dubai LLC will retain the “right of first refusal to use the IP rights in the UAE over the next five years” and that there will be no further claims between the two under the settlement.
    Best Translation: the Dubai company “has first dibs” on the rights to build the first Six Flags park anywhere in the entire UAE, not just Dubai, but it has to act on it within the next five years or lose those exclusive rights to anyone else willing to build one.
 
    (4/28/19) According to the latest update posted by our friends at BlooLoop, as rumored, a number of the rides and attractions originally meant for the planned Six Flags Dubai theme park will now be installed at the existing MotionGate and Bollywood parks in Dubai. This enhancement plan has been approved by DBX’s shareholders and will see about 10 to 12 new attractions added over the next several years. This latest development also officially put an end to the plans of building a “Six Flags Dubai” theme park at the site.
    The resort also plans to open a number of new  hotel rooms by 2020, with the addition of a “Rove Hotel” opening in late 2019 and an official Legoland Hotel opening in 2020.
 
    (3/31/19) ThemeParkInsider has posted an article where Dubai Parks & Resorts now mentions that while Six Flags Dubai is not happening for the foreseeable future, they now have plans to expand and all new attractions to their Motiongate and Bollywood theme parks instead in order to increase their own popularity and continue the rise of attendance at these parks. While they don’t say it, we’ve heard that a number of attractions intended for Six Flags Dubai were already under contract with the manufacturers, so we very well could see some of the attractions intended for the fourth gate to find new homes at the existing parks instead.
 
    (1/16/19) Good news for Dubai Parks & Resorts this week, as the 2018 came to a close with the resort able to report an overall 22% attendance increase over 2017. All together, they reported serving 2.8 million visitors to the resort in 2018.

 

BOLLYWOOD PARKS Dubai (Opened Nov. 15, 2016)

2020 - Nothing is known at this point in time...

 

LEGOLAND Dubai (Opened Oct. 31, 2016)

2020 - Nothing is known at this point in time...

???? - Legoland Hotel - (8/11/17) During a report about the first six months of operation from DXB Entertainments, I found it interesting that they mention a "proposed Legoland Hotel" and not a confirmed Legoland Hotel, which means that they will likely hold off on starting this project until they can stop the financial bleeding and get their numbers up.
    (2/15/17) According to a press release from DXB Entertainments PJSC and Merlin Entertainments Group, the Dubai Parks and Resorts project will soon be home to a LEGOLAND Hotel. The new 250-room hotel will be placed next to the new LEGOLAND Dubai theme park and feature Lego themed rooms, a Castle Play Area and more. The deal is described as a 60/40 joint venture (with Merlin being the 40%), but Merlin will also be in charge of the operations of the hotel as they are with the LEGOLAND parks.

 

MOTIONGATE DUBAI (Opened Dec. 16, 2016)

Park News - (10/11/18) Apparently some kind of Halloween event may be coming to Motiongate Dubai in the very near future… because DXD Parks & Resorts posted a very interesting tweet (see below).

2020 - Nothing is known at this point in time...

 

 

 

 
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