New name reflects the long term vision of the leisure and entertainment company
Dubai Parks and Resorts remains the name of the region’s largest multi-theme park destination opening in October this year
Dubai Parks and Resorts PJSC has announced that it has completed its rebranding exercise and that the official name of the company is now DXB Entertainments PJSC.
The Company received shareholder approval at the General Assembly meeting held on the 23 June 2016 to change the company name to DXB Entertainments PJSC. DXB Entertainments PJSC is now the company name listed on the Dubai Financial Market and will be traded using the new trading symbol DXBE using the existing ISIN code. All DUBAIPARKS shares will now be traded under DXBE.
The name DXB Entertainments is a move to differentiate the wider corporate entity from the existing theme park destination and reflects the company’s long term strategy to grow and become a leader in the leisure and entertainment industry.
Dubai Parks and Resorts will continue to be the name of the region’s largest integrated theme park destination, featuring MOTIONGATE™ Dubai, Bollywood Parks™ Dubai and LEGOLAND® Dubai and LEGOLAND® Water Park, opening this year, and Six Flags Dubai scheduled for 2019.
Raed Kajoor Al Nuaimi, Chief Executive Officer, DXB Entertainments said: “We have a long term vision to redefine the leisure and entertainment industry in the region and, as DXB Entertainments, we have plans to expand our portfolio of amazing family attractions and experiences. We believe there is great potential in the region for future growth of the entertainment industry and we want to be at the forefront, spearheading this expansion.
“Changing our corporate name to DXB Entertainments is a clear statement of our ambition for growth beyond our existing theme park destination. Our new name differentiates our corporate entity from Dubai Parks and Resorts, and puts us on a firm footing for future expansion and ventures.”
The Company also announces that Vinit Shah has changed his position from Chief Destination Marketing Officer to Chief Business Development and Strategy Officer. The newly created position is part of the Company’s long-term strategy to continue developing its entertainment and leisure offering. The Chief Destination Marketing Officer position has been replaced by a VP of Marketing.
DXB Entertainments will focus on delivering Dubai Parks and Resorts and, once the destination is open, ensuring operational excellent and optimum visitor numbers. In the medium-to-longer term the strategy is to further develop the DXB Entertainments offering through world-class leisure, entertainment and hospitality experiences; investing in its existing theme parks; deliver the first Six Flags theme park in the Middle East by 2019 and pursue additional ventures and opportunities to grow and diversify the company.
Notes to Editors:
DXB Entertainments PJSC
DXB Entertainments PJSC is a Dubai headquartered leisure and entertainment company traded on the Dubai Financial Market (DFM) under the trading symbol DXBE. As of the 31 August 2016 it had a market cap of AED 12.9 billion.
DXB Entertainments was listed on the DFM in December 2014 originally as Dubai Parks and Resorts PJSC. DXB Entertainments owns and operates the Dubai Parks and Resorts destination which consists of 4 theme parks (Six Flags Dubai opening in 2019) and 1 water park all at the same location. The large-scale AED 13.2 billion development is spread across 30.6 million square feet of land with 6.7 million ticketed visits expected in 2017, the first full year of operation.
For more information go to: http://www.dxbentertainments.com
Dubai Parks and Resorts, will become the Middle East’s largest multi-themed leisure and entertainment destination when it opens in October 2016 comprising three separate theme parks: MOTIONGATE™ Dubai, a Hollywood movie inspired theme park concept; LEGOLAND® Dubai, the first LEGOLAND theme park in the Middle East; and Bollywood Parks™ Dubai, a first-of-its-kind family theme park that will showcase rides and attractions based on the authentic Bollywood experience, It will also host the LEGOLAND® Water Park, the region’s first water park catering to families with children aged 2-12. Expected to open in late 2019, Six Flags Dubai will be destination’s fourth theme park and the region’s first Six Flags theme park.
The entire destination will be connected by Riverland™ Dubai – a uniquely themed retail and dining destination at the heart of Dubai Parks and Resorts, and guests can stay at the Lapita™ Hotel, a Polynesian themed family hotel part of the Marriott Autograph Collection.
Located on Sheikh Zayed Road opposite the Palm Jebel Ali in Dubai equidistant to Dubai and Abu Dhabi International Airports the destination offers over 100 rides and attractions.
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