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DXB Entertainments reports dip in profits for Q3 2018
POSTED 07 Nov 2018 . BY Luke Cloherty
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 Credit: Shutterstock.com
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
DXB records US$232.8m loss as company implements cost-cutting measures at theme parks


DXB Entertainments, which runs Legoland, Bollywood and Motiongate parks in Dubai, says it sees encouraging signs in its latest financial results, despite reduced attendances in 2019 compared to 2018.
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NEWS
DXB Entertainments reports dip in profits for Q3 2018
POSTED 07 Nov 2018 . BY Luke Cloherty
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 Credit: Shutterstock.com
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
DXB records US$232.8m loss as company implements cost-cutting measures at theme parks


DXB Entertainments, which runs Legoland, Bollywood and Motiongate parks in Dubai, says it sees encouraging signs in its latest financial results, despite reduced attendances in 2019 compared to 2018.
MORE NEWS
Catherine Toolan to replace departing Paul Carty at Guinness Storehouse
Ireland's top attraction, the Guinness Storehouse, is to come under new leadership from April, with Catherine Toolan replacing Paul Carty as managing director.
Texas Kalahari Water Park scheduled for November 2020 opening
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Northern Ireland's The Gobbins in line for £11m development
Plans for an £11m (US$14.2m, €13m) extension to The Gobbins, a famous cliff-face path at Islandmagee, County Antrim, Northern Ireland, have made significant progress, according to the local borough council.
London's V&A Museum of Childhood to close for two-year redevelopment
Creating an "unforgettable first museum experience for children" is the aim of the V&A Museum of Childhood in London, which has announced it will close in May 2020 to undergo a two-year, £13m (US$16.9m, €15.7m) transformation.
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Polin was founded in Istanbul in 1976. Polin has since grown into a leading company in the waterpa [more...]
FORREC Ltd

We create guest experiences others don’t, masterplan like no one else can, and give the world’s bi [more...]
Gantner Ticketing

GANTNER Ticketing was established in 1990. [more...]
Antonio Zamperla Spa

Founded in 1966, the Antonio Zamperla SPA is privately owned by Mr Alberto Zamperla. Located in Vi [more...]
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Global Solutions for Clothing creates award-winning costumes
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Red Raion - Trailer Pinocchio - A Modern Tale VR
Red Raion is the CGI studio specialized in media based attraction. Find out more...
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Trailer Peter Pan - Saving Tinkerbell VR – Red Raion
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+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

23-25 Mar 2020

MuseumNext Europe

Edinburgh Festival Hub, Edinburgh,
23-25 Mar 2020

Dubai Entertainment Amusement and Leisure Exhibition (DEAL)

Dubai World Trade Centre, Dubai, United Arab Emirates
+ More diary  
 


ADVERTISE . CONTACT US

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

©Cybertrek 2020

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