Temporary suspension of Dubai Parks and Resorts extended

Temporary suspension of Dubai Parks and Resorts extended

DXB Entertainments gets temporary debt relief from creditors.. DXB Entertainments on Thursday extended the temporary suspension of its theme park and also received relief from creditors.. The operator of Dubai Parks and Resorts had earlier announced suspension of its operations until March 31, 2020.Due to the current uncertainty and potential reduction in demand for the remainder of the year, it has decided to delay the opening of the Legoland Hotel from June 2020 to Q4 2020.Uncertainty surrounding how many people are affected from the Covid-19 coronavirus in each country had forced companies to suspend operations.. But now companies are extending the suspension of their operations until the dust settles around Covid-19 and the disease has been brought under control.. During the holy month of Ramadan, which experiences low demand, DXBE said it will focus on its annual routine maintenance cycle, in readiness for re-opening.". Covid-19 will have a material impact on our 2020 results.. Given the high level of uncertainty, it is too early to quantify this impact.. Our contingency plans have been activated and as of today, we have either implemented or are in the process of implementing further cost savings, in addition to the material savings already delivered