Dubai Parks and Resorts proposes name change – to dXb Entertainments

Dubai Parks and Resorts, the company which owns three linked theme parks in Dubai, said that it plans to vote to change its name to dXb Entertainments. The Dubai-listed company will also vote on the election and appointment of an additional board member, following a board of directors meeting held on June 15. “dXb Entertainments […]

Dubai Parks and Resorts, the company which owns three linked theme parks in Dubai, said that it plans to vote to change its name to dXb Entertainments.

The Dubai-listed company will also vote on the election and appointment of an additional board member, following a board of directors meeting held on June 15.

“dXb Entertainments is the proposed name for the corporate entity, while Dubai Parks and Resorts will continue to be the name of the region’s largest integrated theme park destination,” the entertainment company said in a statement.

Shareholders of the company will meet on June 23 to discuss these matters.

Dubai Parks and Resorts, which is due to open in October of this year, will feature Motiongate, Dubai, Bollywood Parks, Dubai and Legoland, and a Legoland Water Park.

Shares of Dubai Parks and Resorts are up 33.66 per cent year-to-date.

Dubai Parks and Resorts was spun off in 2014 from Meraas, a private property company owned by Sheikh Mohammed bin Rashid, Vice President and Ruler of Dubai.

Last month, the company successfully closed a Dh1.68 billion rights issue to help fund the opening of a fourth theme park at its Jebel Ali home.

selgazzar@thenational.ae

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Source: Business

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