Six Flags Dubai put on hold over finance

The Texas Giant roller coaster ride (L) is seen at the Six Flags Over Texas amusement park in Arlington, Texas. (photo credit: REUTERS)
Updated 06 February 2019

Six Flags Dubai put on hold over finance

  • DXB Entertainment said the decision came after its board mandated a strategic review of its future development plans

LONDON: A Six Flags theme park project set to be built in Dubai has been put on hold, according to the proposed developer. 

DXB Entertainments, which is listed on the Dubai Financial Market, said on Wednesday that the project cannot proceed as a syndicated finance facility is no longer available.

It said the decision came after its board mandated a strategic review of its future development plans and capital deployment.

“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,” it said in the statement. 

“As a result, the syndicated finance facility intended for utilization 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.”

DXB Entertainments’ biggest existing operation is its multi-themed leisure destination, which includes three separate theme parks including Legoland Dubai. 

It said the destination had seen a 22 percent rise in visits last year, with the region’s largest integrated theme park destination attracting almost 2.8 million visits during 2018.


Google postpones Android 11 unveiling amid US protests

Updated 30 May 2020

Google postpones Android 11 unveiling amid US protests

  • ‘We are excited to tell you more about Android 11, but now is not the time to celebrate’

Alphabet’s Google on Saturday said it has postponed next week’s planned unveiling of the beta version of its latest Android 11 mobile operating system in light of protests and unrest in the United States.
“We are excited to tell you more about Android 11, but now is not the time to celebrate,” Google said in a message posted on its Android developers website.
The event was originally scheduled to take place virtually on Wednesday, according to the website. In a tweet, it said that it will announce more details on the new version of Android “soon,” without specifying any dates.
Protests have spread across the United States over the killing of George Floyd, a Minneapolis black man who died after being pinned by the neck under a white police officer’s knee.