DXB Entertainments Announces Halt of Six Flags Dubai Development
Dubai’s DXB Entertainments PJSC has officially confirmed this week that the development of Six Flags Dubai, which was announced as part of the Dubai Parks & Resorts complex in 2016 (cf. EAP News from May 19th, 2016), is not proceeding at this time.
In August 2018, DXB Entertainments – partner of American Six Flags group for this project – mandated a strategic review of its future development plans and capital deployment. In the intervening period, actions, including formal notification by Six Flags, resulted in funders’ concerns being raised in relation to the revised projections for Six Flags Dubai. As a result, the syndicated finance facility intended for utilization as part of the development of the thrill park is no longer available, so that the project cannot proceed at this time. (eap)