DXB Entertainments will add more themed experiences and thrill rides to Dubai Parks and Resorts. Shareholders have given the go-ahead to expand and enhance Bollywood Parks and Motiongate with assets previously allocated to the cancelled Six Flags Dubai development.
The operating company will use the funds raised from a 2016 rights issue, which were originally meant for a Six Flags Dubai theme park. The Six Flags project was previously put on hold.
Through the approved enhancement plan, approximately 10-12 rides, including thrill rides, will be added to Bollywood Parks and Motiongate. Remaining rides will be used and refreshed for future destination enhancement.
It's hoped the new additions will enhance the visitor experience, increase dwell times, and encourage new and repeat visitation.
The enhancement will be funded through the reutilisation of rights issue proceeds and assets from the 2016 rights issue and requires no additional financing.
In a statement DXB Entertainments confirmed that the Six Flags Dubai development is no longer proceeding.
Mohammad Almulla, CEO and Managing Director of DXB Entertainments, said: "In Dubai Parks and Resorts we have a market leading asset. With the addition of the new rides, including world record rides, we will further cement our position as the leading integrated theme park destination in the region.
"The expansion offsets part of the existing capital commitment for the already approved Bollywood Parks Dubai enhancement plan, which we started at the end of last year," he continued.
"The expansion complements our hotel strategy designed to grow international visitation by positioning Dubai Parks and Resorts as a holiday destination with over 1,300 hotel rooms expected to be delivered by 2020, with the third-party owned and operated Rove Hotel opening later this year and the Legoland Hotel opening in 2020."
In March, DXB Entertainments announced its audited financial results for 2018, as well as the results of its strategic review – confirming that it will focus on expanding and enhancing Motiongate and Bollywood Parks.
Source - https://blooloop.com/news/dxb-rides-bollywood-motiongate-six-flags-dubai-cancelled/
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