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DXB Entertainments reports dip in profits for Q3 2018
POSTED 07 Nov 2018 . BY Luke Cloherty
UAE-based Operator DXB Entertainments has posted quarter-on-quarter losses in revenue and gross profit for Q3 2018.

Revenue dropped by 11 per cent AED103m (US$28m, €24.4m, £21.3m), while gross profit was down by 13 per cent to AED89m (US$24.2m, €21.1m, £18.4m) in the quarter compared with Q3 2017.

However, there was brighter news for the company as pre-tax profits (EBITDA) rose by 10 per cent to AED 82m (US$22.3m, €19.4m, £17m).

The company’s theme parks business saw 70 per cent of revenue in Q3 2018 driven by admissions and 27 per cent through in-park spend.

Notably, it has increased the annual pass price at both of its Legoland theme parks and at its Bollywood Parks Dubai site for the forthcoming Winter 2018-19 season.

DXB owns Dubai Parks and Resorts and manages a number of Meraas-owned leisure and entertainment offerings in Dubai.

Launched in 2016, Dubai Parks and Resorts is a large, multi-themed leisure and entertainment destination which comprises three separate theme parks – Motiongate Dubai, a Hollywood movie inspired theme park; Legoland Dubai, the first Legoland theme park in the Middle East; and Bollywood Parks Dubai, an entertainment destination based on India's Bollywood movie industry.

It also operates Legoland Water Park, the region’s first water park catering to families with children aged 2-12.

The company's future plans include the opening of Six Flags Dubai in late 2019.

“The third quarter of the year is typically our slowest period, as it is affected by the heat of the summer months, however we are pleased to report 5 per cent growth in visits during the third quarter and 33 per cent growth in the first nine months of the year, when compared to the same respective periods last year,” said Mohamed Almulla, CEO and managing director, DXB Entertainments.
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NEWS
DXB Entertainments reports dip in profits for Q3 2018
POSTED 07 Nov 2018 . BY Luke Cloherty
UAE-based Operator DXB Entertainments has posted quarter-on-quarter losses in revenue and gross profit for Q3 2018.

Revenue dropped by 11 per cent AED103m (US$28m, €24.4m, £21.3m), while gross profit was down by 13 per cent to AED89m (US$24.2m, €21.1m, £18.4m) in the quarter compared with Q3 2017.

However, there was brighter news for the company as pre-tax profits (EBITDA) rose by 10 per cent to AED 82m (US$22.3m, €19.4m, £17m).

The company’s theme parks business saw 70 per cent of revenue in Q3 2018 driven by admissions and 27 per cent through in-park spend.

Notably, it has increased the annual pass price at both of its Legoland theme parks and at its Bollywood Parks Dubai site for the forthcoming Winter 2018-19 season.

DXB owns Dubai Parks and Resorts and manages a number of Meraas-owned leisure and entertainment offerings in Dubai.

Launched in 2016, Dubai Parks and Resorts is a large, multi-themed leisure and entertainment destination which comprises three separate theme parks – Motiongate Dubai, a Hollywood movie inspired theme park; Legoland Dubai, the first Legoland theme park in the Middle East; and Bollywood Parks Dubai, an entertainment destination based on India's Bollywood movie industry.

It also operates Legoland Water Park, the region’s first water park catering to families with children aged 2-12.

The company's future plans include the opening of Six Flags Dubai in late 2019.

“The third quarter of the year is typically our slowest period, as it is affected by the heat of the summer months, however we are pleased to report 5 per cent growth in visits during the third quarter and 33 per cent growth in the first nine months of the year, when compared to the same respective periods last year,” said Mohamed Almulla, CEO and managing director, DXB Entertainments.
MORE NEWS
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In a move that takes Disneyland Paris somewhat closer to its Florida brother in terms of technological sophistication, the French theme park has launched a new wireless system allowing guests to pay more easily for everything from park tickets to food.
Major new waterpark opens doors in Johannesburg
Africa’s biggest wave machine is one of the major attractions at the newly-opened Happy Island Waterworld in Johannesburg, South Africa.
Greensboro Science Centre expansion pushes forward with new attractions to open this year
Work is progressing on the expansion of the Greensboro Science Centre (GSC) in North Carolina, US, with a number of new additions scheduled to open in 2019 as part of the multi-million dollar project.
UK culture gets £20m investment
Local culture, heritage and creative industries in five parts of the UK are set to benefit from a share of £20m (US$25.77m, €22.65m), with funding awarded by the UK Government’s Department for Digital, Culture, Media and Sport (DCMS).
+ More news   
LATEST JOBS
Centre Director
Live Borders
Salary: Competitive
Job location: Galashiels, UK
Operations Manager
Longleat
Salary: £28,000 to £35,000 per annum
Job location: Longleat, Warminster, UK
Retail Director
Legoland
Salary: Competitive
Job location: Goshen, New York, USA
Operations Manager
Sea Life
Salary: Competitive
Job location: Concord, North Carolina, USA
Facilities Manager
Madame Tussauds
Salary: Competitive
Job location: San Francisco, CA, USA
Guest Experience Manager
Legoland
Salary: Competitive
Job location: Atlanta, Georgia, USA
+ More jobs  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2019

ABOUT LEISURE MEDIA
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