DXB Entertainments PJSC announces that the Six Flags Dubai Project is not proceeding at this time

In August 2018 the Board of DXB Entertainments PJSC (“DXBE”) mandated a strategic review of its future development plans and capital deployment, including the development of Six Flags Dubai.

In the intervening period, actions, including formal notification by Six Flags, resulted in funders’ concerns being raised specifically in relation to the revised projections for the Six Flags Dubai Project.  As a result, the syndicated finance facility intended for utilisation as part of the development of the Six Flags branded theme park is no longer available, and the Six Flags Dubai project cannot proceed at this time.

Consequently, the scope of the strategic review will be adjusted and an update will be provided in due course.

-Ends-

 

DXB Entertainments PJSC

DXB Entertainments PJSC (previously Dubai Parks and Resorts PJSC) is a Dubai-based operator of leisure and entertainment destinations and experiences. The Company is traded on the Dubai Financial Market (DFM) under the trading symbol DXBE. We bring together a diverse portfolio of world-class brands to offer entertainment in the areas of theme parks, family entertainment centres and retail and hospitality.

For more information, go to: www.dxbentertainments.com

 

For further information, please contact:

Abdulrahman Al-Suwaidi, Investor Relations Officer, DXB Entertainments PJSC
+97148200820
IR@dxbentertainments.com

Jon Earl, Managing Director, FTI Consulting
+97144372104
jon.earl@fticonsulting.com

 Anca Cighi, Director, FTI Consulting
+97144372111
anca.cighi@fticonsulting.com