Six Flags have announced that they will contest DXB Entertainments’ move to cancel the Six Flags Dubai theme park.
Six Flags’ quarterly results included a statement saying that:
“The leisure and entertainment complex in Dubai, phase 1 of which opened in 2016, has had well publicized performance challenges. On April 24, 2019, our partner in Dubai sent us notice purporting to terminate our various contracts with them.
We believe that they have no basis to do so and we will pursue all our rights and remedies under our agreements.”
Six Flags Dubai cancelled
DXB Entertainments’ shareholders had this week approved a plan to repurpose assets and funds allocated to the Six Flags Dubai theme park project for Motiongate and Bollywood Parks. The statement also stated that “the Six Flags Dubai Project 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.”
The approved enhancement plan would see 10-12 rides, including thrill rides, added to Bollywood Parks and Motiongate. Remaining rides intended for Six Flags Dubai would be used and refreshed for future destination enhancement.
In addition funds raised from a 2016 rights issue, which were originally meant for a Six Flags Dubai theme park, have now been re-allocated.