SLE Worldwide Australia is a Managing General Underwriter specialising in insuring risks in the world of Sports, Leisure and Entertainment. Be it relaxing, playing, organising or watching sports,…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.
Smart Connection Consultancy is a boutique sport and recreation consultancy who has become one of Australia’s leading advocates for the use of synthetic sports surfaces as a vehicle to grow…read more
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
Summit Fitness Equipment is now part of NovoFit - see www.ausleisure.com.au/suppliers/novofit/read more
Tim Batt Water Solutions are at the very forefront of the commercial aquatic business in Australia, with over 30 years specific experience supplying and installing chemical control and dosing…read more
Neptune Benson is a manufacturer of high quality water filtration and disinfection products for the recreational, industrial, and municipal water markets. With more than 20,000 installations…read more
Fitness On Demand™ is a market-leading developer of virtual group fitness products. Our innovative video delivery systems offer robust content and a simple-to-use, comprehensive web app. Fitness…read more
TRP help health clubs, leisure centres and gyms across the globe create happy, loyal members through our user-friendly software which enables effective engagement and the delivery exceptional customer…read more
get listed with our suppliers directory
Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!