Latest News

Back to Latest News back

 

Ardent Leisure sells bowling centres division for $160 million

Ardent Leisure sells bowling centres division for $160 million
December 20, 2017

Ardent Leisure has sold off its bowling and entertainment centres for $160 million to the Entertainment and Education Group, owned by private equity Quadrant and the Steinberg Family.

Proceeds will be funnelled to the remaining operations of Main Event in the US and the Dreamworld theme parks on the Gold Coast, Queensland.

Ardent has now sold all of what it considered “non-core assets”, its Goodlife Health Clubs division, also sold to Quadrant, d'Albora marinas and its AMF and Kingpin bowling and entertainment centres.

The sales were part of the proposals forwarded by the new Chairman Dr Gary Weiss and his Ariadne Australia group, during its campaign this year to get board representation at Ardent, to "restore shareholder value" to investors.

Following that campaign, Dr Weiss and his fellow Ariadne Director Brad Richmond gained the board seats and are now implementing their proposals.

The year also saw the departure of two Chief Executives, Deborah Thomas and latterly Simon Kelly, who was in the role for just five months.

Currently the group is undertaking a search for a new Australian-based chief executive.

At the Ardent annual shareholder meeting in November, Dr Weiss vowed to unlock value at the Dreamworld theme park on the Gold Coast as part of his greater plan to get the company "back on track".

He said the new board was working "collaboratively and collectively" to return shareholder value by improving the two business divisions of entertainment and bowling in Australia and the Main Event centres in North America.

Dr Weiss stated "we are now looking at a range of options for our two businesses in the US and at Dreamworld to enhance shareholder returns.

"At Dreamworld we are well under way in the review of the surplus land at Dreamworld. There is significant development potential but we are not rushing into anything."

Dr Weiss said the goal for the theme parks is to "reinvigorate customer attendance through the introduction of new attractions and further expanding strategic partnerships, as well as continuing to explore opportunities to develop the surplus land."

9th November 2017 - ARDENT LEISURE CHIEF EXECUTIVE SIMON KELLY TO LEAVE AFTER JUST FOUR MONTHS IN ROLE

26th October 2017 - DREAMWORLD MARKS RIDE TRAGEDY ANNIVERSARY WITH QUIET STAFF COMMEMORATION

21st October 2017 - QUEENSLAND POLICE SAY NO STAFF SHOULD BE PROSECUTED OVER 2016 DREAMWORLD DEATHS 

16th October 2017 - QUEENSLAND PARLIAMENT PASSES INDUSTRIAL MANSLAUGHTER LAWS IN WAKE OF DREAMWORLD FATALITIES 

29th September 2017 - GARY WEISS TAKES ON CHAIRMAN’S ROLE AT ARDENT LEISURE

14th September 2017 - DREAMWORLD TO REMOVE MOUNTAIN SURROUNDING ITS EUREKA MOUNTAIN MINE RIDE

4th September 2017 - ARDENT LEISURE INVITES REBEL SHAREHOLDERS TO JOIN BOARD

27th August 2017 - DREAMWORLD TRAGEDY HIGHLIGHTS LEGAL DUTY OF CARE FOR THEME PARK GUESTS

23rd August 2017 - QUEENSLAND TO IMPLEMENT NEW SAFETY LAWS FOLLOWING DREAMWORLD TRAGEDY REPORT

11th July 2017 - DREAMWORLD BATTLES INCONSISTENT ATTENDANCES AND FALLING REVENUES

30th June 2017 - DREAMWORLD LAUNCHES AFTER DARK THRILL EXPERIENCE 

24th May 2017 - ARDENT LOOKS TO QUASH DREAMWORLD SALE RUMOURS, EXPLORES SITE REZONING PLAN 

2nd December 2016 - ACCC WILL NOT OPPOSE QUADRANT’S FITNESS FIRST ACQUISITION 

21st October 2016 - AUSTRALIAN COMPETITION AND CONSUMER COMMISSION TO SCRUTINISE QUADRANT’S FITNESS FIRST ACQUISITION


Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.


Asking a small favour
We hope that you value the news that we publish so while you're here can we ask for your support?

The news we publish at www.ausleisure.com.au is independent, credible (we hope) and free for you to access, with no pay walls and no annoying pop-up ads.

However, as an independent publisher, can we ask for you to support us by subscribing to the printed Australasian Leisure Management magazine - if you don't already do so.

Published bi-monthly since 1997, the printed Australasian Leisure Management differs from this website in that it publishes longer, in-depth and analytical features covering aquatics, attractions, entertainment, events, fitness, parks, recreation, sport, tourism and venues management.

Subscriptions cost just $90 a year.

Click here to subscribe.

 

supplier directory

The Complete Guide to Leisure Industry Products & Services.

See the directory see all

Polin Waterparks

Polin was founded in Istanbul in 1976, and has since grown into a leading company in the waterparks industry. Today Polin is one of the world leaders in the design, production, and installation of…

read more

Aquatics / Attractions / Play / Waterparks

 
 

SWIMPLEX AQUATICS

Swimplex Aquatics are a world-class company dedicated to the commercial pool, waterslide industry. We are Australian market leaders servicing all states Australia wide. Swimplex provide a full…

read more

Aquatics / Attractions / Design / Play / Waterparks

 
 

CENTAMAN

Centaman has been a market leader in Enterprise Software Solutions for the leisure and recreation industry and both profit and not-for-profit attractions since 1991. It offers a wide range of software…

read more

Access / Billing / Fitness / Technology / Ticketing

 
 

Aquaspin

AQUASPIN™ - Aqua Cycling Aquaspin™’s sessions have been specially designed by our Master Trainer to be challenging yet fun group cycling sessions. Each session is tailored to…

read more

Aquatics / Fitness / Recreation / Wellness

 
 

Jonas Leisure

JonasLeisure offers a complete range of leading leisure and recreation software brands – envibe, Centaman, Gladstone Health & Leisure, The Retention People, Nutrition Complete and…

read more

Aquatics / Billing / Fitness / Recreation / Sport

 
 

Clubware

Clubware’s online gym software is not your run of the mill management system. It has been carefully designed to incorporate all the elements that a fitness club would need. How did we do that?…

read more

Access / Billing / Fitness / Recreation

 
 

AlphaFit

AUSTRALIAN MADE. BUILT NOT BOUGHT. AlphaFit is a 100% Australian owned family company manufacturing gear specifically for the strength and conditioning, functional fitness and high-performance…

read more

Fitness / Recreation / Sport / Technology / Wellness

 
 

Centaman Entrance Control

Turnstile Entry Systems and Access Control Centaman Entrance Controls’ Award Winning Range of Access Control Systems includes tripod & triarm turnstiles, speedgates, full height…

read more

Access / Entertainment / Sport / Ticketing / Venues

 
 
 
 

get listed with our suppliers directory

Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!

list your business