DXB Entertainments reaches deal with banks and extends temporary suspension of theme parks – The National

DXB Entertainments reaches deal with banks and extends temporary suspension of theme parks – The National

DXB Entertainments reaches deal with banks and extends temporary suspension of theme parks. The company's chief executive expects Covid-19 to have a 'material impact' on the company's 2020 results. DXB Entertainments, operator of Dubai Parks and Resorts, reached an agreement with banks to defer "significant proportion" of the interest on a Dh4.2 billion syndicated loan which will improve the company's liquidity as the company extends the suspension of its theme park operations due to the coronavirus outbreak.. "Our liquidity position is robust and I am pleased to announce has been further improved by reaching agreement with our financing partners to defer a significant proportion of our interest over the next 15 months, significantly improving our near-term liquidity," said Mohamed Almulla, managing director and chief executive of DXB Entertainments, said in a statement on Thursday to Dubai Financial Market, where the company's shares trade.. Theme park operations at Legoland, Motiongate and Bollywood Parks will remain suspended, the company said.. Operations at Lapita hotel and retail destination Riverland Dubai have also been suspended.. "The health and safety of our employees, guests and their families is our top priority, and and in support of both local and global efforts to reduce the spread