In August 2018 the Board of DXB Entertainments PJSC (“DXBE”) mandated a strategic review of its future development plans and capital deployment, including the development of Six Flags Dubai.
In the intervening period, actions, including formal notification by Six Flags, resulted in funders’ concerns being raised specifically in relation to the revised projections for the Six Flags Dubai Project. As a result, the syndicated finance facility intended for utilisation as part of the development of the Six Flags branded theme park is no longer available, and the Six Flags Dubai project cannot proceed at this time.
Consequently, the scope of the strategic review will be adjusted and an update will be provided in due course.