DXB Entertainments annual losses more than double | Arab News

DXB Entertainments annual losses more than double | Arab News:

" DXB Entertainments (DXBE), which owns one of the largest theme parks in the Middle East, has posted a net loss of 1.12 billion dirhams ($303.8 million) in 2017, despite reporting increased visitor numbers and implementing a cost-cutting strategy last year.
The company’s largest asset, Dubai Parks and Resorts, reported revenues of 552 million dirhams in its preliminary results for 2017. Revenue in the fourth quarter reached 157 million dirhams, marking an increase of 37 percent compared with the third quarter, according to a filing on the Dubai Financial Market.
While the company reported lower revenues of 76 million dirhams in 2016, the park only opened late that year and the full-year results reflect just three months of operations. DXBE posted a net loss of 485 million dirhams for that time period."



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