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.
 


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
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
 
Leisure Management - DXB Entertainments reports dip in profits for Q3 2018...
23 Jan 2019 Leisure Management: daily news and jobs
 
 
HOME
JOBS
NEWS
FEATURES
PRODUCTS
FREE DIGITAL SUBSCRIPTION
PRINT SUBSCRIPTION
ADVERTISE
CONTACT US
Sign up for FREE ezine
Latest news

07 Nov 2018

DXB Entertainments reports dip in profits for Q3 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

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
photo: 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.



Connect with
Leisure Management
Magazine:
View issue contents
Sign up:
Instant Alerts/zines

Print edition
 

News headlines
Work begins on Powerhouse Company-designed social hub in Amsterdam
Work begins on Powerhouse Company-designed social hub in Amsterdam   23 Jan 2019

Construction has begun on a multi-use, community pavilion designed by Dutch architecture practice, Powerhouse Company. Located in the .... more>>
Shanghai Disneyland to build Zootopia-themed expansion
Shanghai Disneyland to build Zootopia-themed expansion   23 Jan 2019

Shanghai Disney Resort has announced another major expansion – the second since it opened in June 2016 – which will be themed on the animated film .... more>>
Rio de Janeiro named as World Capital of Architecture for 2020
Rio de Janeiro named as World Capital of Architecture for 2020   23 Jan 2019

The United Nations Educational, Scientific, and Cultural Organization (UNESCO) and the International Union of Architects (UIA) have named Rio de .... more>>
Quebec’s Méga Parc reopens with a host of new rides
Quebec’s Méga Parc reopens with a host of new rides   22 Jan 2019

Canada’s Méga Parc has reopened following a multi-million dollar steampunk-themed redevelopment that includes the building of North America’s first .... more>>
Newcastle Art Gallery set for AU$45m expansion
Newcastle Art Gallery set for AU$45m expansion   22 Jan 2019

Newcastle Art Gallery in New South Wales, Australia, is gearing up for a long-awaited AU$45m (US$32.1m, €28.3m, £24.8m) expansion. The gallery .... more>>
Simba and Cuckooz join up to improve sleep wellness with womb-like 'sanctuary' in London
Simba and Cuckooz join up to improve sleep wellness with womb-like 'sanctuary' in London   22 Jan 2019

Craving a good night’s rest? Hospitality company Cuckooz and bedroom furniture brand Simba have created the "Womb Room", a space that promotes REM .... more>>
Company profile


Dyaco UK Limited

We cater for all markets, aiming to be at the cutting edge of developments in the industry to react accordingly and provide operators and gym users with the equipment they need and want.

View full profile>>

Catalogue gallery


Featured Supplier

Biologique Recherche: 40 years of passion

Biologique Recherche: 40 years of passion

Biologique Recherche was founded by a family of passionate skincare experts. More>>




in this issue

• UFC Gym to open first two UK sites
• Snap Fitness owner looks for new 'vision'
• The Biltmore poised for spring launch



Latest jobs

Jobs Search



Personal Trainer
Location: London, England
Company: The Gym Group
Health and Fitness Club Manager
Salary: Competitive Salary and Benefits
Location: Suffolk, UK
Company: The Bedford Lodge Hotel
Personal Trainer
Location: West Midlands, England
Company: The Gym Group
Diary dates
Powered by leisurediary.com




22-24 Jan 2019

BIGGA Turf Management Exhibition (BTME)

Harrogate Convention Centre, Harrogate, United Kingdom



Leisure Management magazine 2018 issue 1
Leisure Management
2018 issue 1

View issue contents
View on turning pages
Download PDF
  Promotional feature: Alliance Leisure
The future of leisure in times of austerity More>>
  Tourism: High flyers
How bmi and Projekt Spielberg are growing British tourism to Graz More>>


Leisure Management magazine 2016 issue 1

Leisure Management
2016 issue 1

View issue contents
View turning pages
Download PDF
  Visitor profiles: Beyond demographics
Gerri Morris, of Morris Hargreaves McIntyre, on defining cultural consumers More>>
  Community: Bright Hart Lane
Grant Cornwell on the Tottenham Hotspur Foundation’s community work More>>


Published by The Leisure Media Company Ltd Portmill House, Portmill Lane, Hitchin, Herts SG5 1DJ. Tel: +44 (0)1462 431385 | Contact us | About us | © Cybertrek Ltd