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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.
RELATED STORIES
MORE NEWS
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A new £15m (US$19.5m, €17.3m) waterpark has opened its doors to the public in Rhyl, Wales, with three flumes for thrillseekers to enjoy.
Elton John makes significant V&A donation for photography collaboration
London’s V&A Museum has announced a partnership with Elton John and his husband, David Furnish, that will see its Gallery 101 in the newly opened V&A Photography Centre renamed 'The Sir Elton John and David Furnish Gallery'.
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More than 190 UK institutions and individuals from the arts and culture sectors have pledged their support to Culture Declares Emergency (CDE), which is part of the Climate Emergency Declaration campaign.
Disney makes US$5m donation to Notre-Dame rebuild following blaze
Disney has donated US$5m (€4.4m, £3.8m) toward the restoration efforts of Notre-Dame Cathedral, following the huge fire that destroyed much of the iconic landmark in Paris.
+ More news   
LATEST JOBS
Sales and Marketing Manager
Continuum Attractions
Salary: Up to £24,000
Job location: Oxford, UK
Head of Cultural and Community Services
South Derbyshire District Council
Salary: Up to £65,000
Job location: Derbyshire, UK
Attraction Operations Manager
Legoland Discovery Centre
Salary: Competitive
Job location: Tempe, Arizona, USA
Customer Relationship Manager
Merlin Entertainments Group
Salary: Competitive
Job location: Sydney NSW, Australia
Regional HSS Manager (Asia)
Merlin Entertainments Group
Salary: Competitive
Job location: Shanghai, China
Assistant Director Visitor and Site Operations
Eureka
Salary: Circa £42,000 per annum
Job location: Halifax, UK
+ 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
LEISURE MEDIA MAGAZINES
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