iEDM integrate Design, Engineering and Delivery Management services to convert existing spaces into exciting new entertainment venues. Our team consists of highly qualified professionals with diverse…read more
Ardent Leisure shares hit seven-year low
The share price of Dreamworld owners Ardent Leisure has tumbled around 20% in the past week, from highs of $1.62 on 4th March to as low as $1.29 at the time of writing.
As reported by theme park enthusiasts website Parkz, the drop in share price over the past week has wiped some $140 million in share value for the company
While Ardent's shares have been trending downward since the Thunder River Rapids incident claimed the lives of four riders in September 2016, it is the lowest share price for the group since July 2012 when the company was steadily emerging from global financial downturns that saw the price topple to under a dollar in years prior.
The current dip ahs not been as a result of any investor announcements or changes to holdings by major shareholders.
However, it does follow an announcement came from Dreamworld on Friday that the popular WipeOut ride would be retired to be replaced by a "chill space featuring shading and seating".
The attraction had been affected by maintenance issues for a number of years despite lengthy maintenance periods and an assurance from Dreamworld executives in late-2017 that the attraction had at least 10 years life remaining at Dreamworld based on an audit from engineering firm Pitt & Sherry.
Pitt & Sherry are retained by Dreamworld to perform "independent mechanical, structural and electrical engineering and safety review" of their rides and attractions.
Then Chief Executive of Dreamworld Craig Davidson told Parkz in November 2017 "What we've done with all of our infrastructure with Pitt & Sherry is we've asked them to do a term of life assessment ... what they found is that we have a term of life on the Wipeout which is at least another 10 years."
Following the announcement of the removal of the WipeOut, enthusiasts hit out at Dreamworld on social media.
Parkz's Richard Wilson wrote "investors have seemingly followed public sentiment with the dramatic drop in Ardent's share price in recent days."
Prior to two of its investors joining the Ardent Leisure board in late 2017, investment group Ariadne called for an investment of $25 million in new attractions at Dreamworld.
9th March 2019 - Dreamworld announces permanent closure of The WipeOut
7th March 2019 - Dreamworld advises appointment of safety engineering expert
22nd February 2019 - Ardent Leisure losses rise as guests fail to return to Dreamworld
15th January 2019 - No sign of opening for Dreamworld’s Sky Voyager
7th December 2018 - Dreamworld reputation savaged at inquest
22nd November 2018 - Ardent Leisure reveals theme park investment strategy
4th September 2017 - Ardent Leisure invites rebel shareholders to join board
2nd November 2016 - Ardent Leisure share price continues to fall amid safety scrutiny
25th October 2016 - Ardent Leisure shares fall after Dreamworld tragedy
12th March 2015 - Share volatility after Ardent Leisure announces new Chief Executive
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.
The Complete Guide to Leisure Industry Products & Services.
Goplay designs and manufactures specialised playground equipment for indoor play centres, hotels, food chains, clubs and resorts. If our years of experience and dedication have taught us one thing,…read more
Solarwise NSW / Dolphin Tech were the first and are the largest Dolphin dealer in NSW with a full service facility and full range of spare parts "on the shelf". We also provide on site…read more
The Fitness Generation is now part of NovoFit - see www.ausleisure.com.au/suppliers/novofit/read more
We are the leading providers of kids fun multi-sports programs for Sport and Recreation Centres. Programs cover twelve common sports as well as Gross Motor Skill Development and suit children from as…read more
NovoFit is an exciting and dynamic new company born from two of Australia’s leading commercial fitness equipment suppliers. NovoFit combines over 45 years of industry expertise, delivering state…read more
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
Aflex Inflatables are the leaders for obstacle courses, pool toys, waterparks and land-based watersides and fitness runs. They are industry leaders offering the widest range of pool, lake and beach…read more
get listed with our suppliers directory
Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!