Dubai DXB Entertainments posts losses in first half of 2019

DUBAI, United Arab Emirates — DXB Entertainments, which runs Dubai Parks & Resorts, has announced revenue of $68.6 million for the first half of 2019, 13% down from the same period last year.Revenue was down mainly because of a drop in visitors from 1.46 million last year to 1.4 million for the first half of 2019. DXB Entertainments also said on Thursday COO Paul Parker would be relieved of his post. A replacement hasn’t been named.The company said last month it was paying $7.5 million to Six Flags after abandoning plans to build a $454 million version of the U.S. amusement park in the United Arab Emirates amid a slowdown in Dubai’s economy.DXB Entertainments is majority-owned by Meraas Holding, a development company owned by Dubai ruler Sheikh Mohammed bin Rashid Al Maktoum.The Associated Press read more