The opening of Six Flags-themed attractions at Dubai Theme Park Resort may be delayed。

The Middle East theme park operator DXB Entertainments (DXBE) recently issued an announcement，Previous planned investment of AED 2.6 billion (7 is being reviewed.USD 0.8 billion) Six Flags Dubai project。March this year，DXBE CEO Mohamed Almulla once said，The company expects that the Six Flags theme park will be completed and put into operation by the end of 2019。

The purpose of this review is，“Rethink the size of the Six Flags project based on existing customer demand、Construction progress and possible alternatives”，The company wrote in its filing to the Dubai Stock Exchange。The final decision will be presented to the Board of Directors before the end of the year，"May have an impact on Six Flags Dubai's previously scheduled opening date"。

DXBE was formerly known as Dubai Parks & Resorts) is the operating entity，Currently the parent company and operator of Dubai Theme Park Resort，There are Bollywood movies in the resort area、Three major amusement parks themed after Hollywood movies such as The Hunger Games。

2018 financial report display，The number of tourists in the resort continues to increase，188bet app download The company’s losses gradually narrowed。But the main project under construction will be postponed，Why is this？To a large extent, it is related to the poor performance of Dubai Theme Park Resort since its opening, including attendance and revenue。

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Essentially，Investors are cautious about the development prospects of Dubai theme park resort which has been losing money。2.3 million company tourists in 2017，It’s too far from the expected 6.7 million visitors，USD 0.4 billion.USD 0.4 billion，The company has not distributed any dividends since its listing。

Financial report display，DXB Entertainment lost 2 in the third quarter.AED 7.1 billion (USD 73.9 million)，Higher than analysts expected 2.AED 5.7 billion。The stock price fell by 2 on the day of the financial report.8% to 0 per share.AED 35，The stock price fell by 45% in 2018。

Visitors exceeded 500,000 in the third quarter，A year-on-year increase of about 5%；Revenue dropped 11%，1 from the same period last year.AED 1.5 billion reduced to 1.AED 0.3 billion (USD 28 million)；Adjusted EBITDA loss of AED 81 million (USD 22 million)，1 with the same period last year.0.5 billion dirhams, a decrease of 23%。During this period，The occupancy rate of Lipita Hotel in the resort increased from 42% to 66%。

Overall，Visitors to Dubai Theme Park Resort in the first nine months increased by 33% year-on-year，From 147 in the same period last year.90,000 visits increased to 196.40,000 people。Revenue decreased by 1%，3 from the same period last year.AED 9.5 billion reduced to 3.AED 9.2 billion (1.USD 0.7 billion)，And EBITDA loss narrowed by 51%，Loss 3 from the same period last year.Dh5.3 billion to loss in the first three quarters of this year1.AED 7.3 billion (USD 47.09 million)。Lipita Hotel’s average occupancy rate also increased from 30% to 59%。

From the company’s financial report data for the third quarter and the first three quarters，There are several problems with the main financial 188bet sports betting app download indicators of Dubai Theme Park。

一、Growth in tourists，But revenue did not increase accordingly，Secondary consumption and hotel income are obviously low，Together they account for less than 30% of the total income；二、Although losses narrowed for three consecutive quarters in 2018，But compared with the first year of opening, it is not enough to fully demonstrate its high operational efficiency，The higher than expected loss in the third quarter is good evidence。三、Although the hotel’s occupancy rate has increased，However, the number of tourists in Dubai Resort, which is comparable in size to Tokyo Disney, is low，Insufficient catering and activities cannot help further increase its occupancy rate。

DXB Entertainments said，The company’s near-term goals have not changed，That is, EBITDA achieves breakeven。According to performance improvement plan，The company plans to introduce 11 performances in Bollywood theme parks by the first half of 2019，And adjust fares before the winter peak season。

"Before the winter season arrives，We have adjusted our pricing strategy to increase ticket revenue。Also，We are also considering increasing tourists’ consumption in the park by increasing the types of products and catering in the park，Further improve the income level of the resort。”Mohamed Almulla said，"In operations，We have tried to optimize the company structure，Improve operational efficiency，The effectiveness of this strategy can be seen from the continuous narrowing of EBITDA losses in the past few quarters。Another focus of the company is the resort retail and dining area Riverland Dubai，We need to optimize strategies to provide support for merchants、Increase resort revenue and provide more family experiences at Bollywood Parks。”

It can be seen from the above performance improvement plan，DXBE attaches great importance to Bollywood movie-themed parks。Everyone knows，Bollywood movies based on Hollywood 188bet app download standards come from India，Indian tourists apparently play an important role in the footfall of Dubai theme company resorts。

Financial report display，First half of 2018，International tourists account for 38% of the resort’s total visitors，Mainly from the Middle East and North Africa、Gulf countries and Indian subcontinent。Company name，International tourists are the main growth driver and a priority business in the future。

Another report shows，8% of the resort’s 2.3 million visitors in 2017 were from South Asia，The number of tourists from India and Pakistan to Dubai is 2.67 million，In other words，DXBE attracts 7% of South Asian inbound tourists to resort theme parks every year。The importance of Bollywood Park in the entire resort is self-evident。

The different meanings of Six Flags Dubai to both partners

Six Flags and DXBE were confident in introducing the Six Flags park project at the beginning of their cooperation。

According to Wall Street Journal，Six Flags planned to build the world’s largest roller coaster in Dubai as early as 2016。“Six Flags Dubai will be home to some of the world’s largest、Best、The fastest ride。" John Odum, Six Flags Senior Vice President of International Business, once said in the report。

Dubai theme park operator DXBE also said，Six Flags must build at least three world record-breaking rides，Main attractions include 6 roller coasters、4 aerial attractions、1 340-meter-long rafting project and 3 performances。Company name，The park will include Thrillseeker Plaza、Magic Mountain、Fiesta Texas、Great Escape、Great Adventure、Great America’s six theme areas, a total of 27 rides and attractions。

Six Flags operates 25 theme parks and water parks in North America，Looking from the six theme areas announced above，Except Thrillseeker Plaza，The other five theme areas are all related to Six Flags Entertainment’s well-known theme parks in North America，Such as Six Flags Great Adventure, 188bet app the largest theme park in the world、Six Flags Magic Mountain, Six Flags’ first year-round theme park。

As you can imagine,Similar to the Hollywood movie theme area，The items in Six Flags Dubai Theme Park Resort are mostly carefully selected from Six Flags’ most famous theme parks，Various types of roller coasters and other rides and attractions are the focus of selection。

Company executives said in previous earnings calls，The Six Flags theme park and Legoland hotel under construction can help Dubai theme park resort further increase visitor numbers，Achieving the company’s goal of breaking even。

Although signing an international agreement with a partner does not guarantee the success of the project，But given that Six Flags Entertainment adopts a light asset model such as brand output，The operating performance of overseas projects does not have a great impact on Six Flags。

Six Flags CEO Reid-Aenderson said about the Six Flags Dubai project: "For us，The risk faced by this paradise is particularly small。In terms of future revenue and EBITDA profits，Six Flags Dubai is the smallest project among all overseas parks。While we hope the project continues，But if the project no longer advances，We will not suffer too much loss。”

Lionsgate’s The Hunger Games、DreamWorks’ Kung Fu Panda、The Smurfs from Columbia/Sony Pictures、IPs such as Legoland have not brought ideal results to Dubai Theme Park Resort。Under existing conditions，Introducing the Six Flags park project may not necessarily help DXBE immediately get rid of its current operational and financial difficulties。

While introducing more famous movie IP-themed attractions，Only provide tourists with more colorful activities、Catering and other supporting entertainment facilities or services，Only in this way can we truly enhance the visitor experience，Let them stay longer，Bring more revenue to the resort。The operation area is larger than Tokyo Disney Resort，However, the Dubai Theme Park Resort, with less than one-tenth of the latter’s number of tourists, will undoubtedly test DXBE’s operational capabilities and efficiency。