Aerobic Microphones Australia provides audio products for the fitness industry. Products include the sweat resistant Cyclemic and Aeromic headworn microphones and pouchbelts that are made in…read more
Village Roadshow Theme Parks closes in on sale of 154 hectare Oxenford site
Village Roadshow Theme Parks has revealed that it is in exclusive negotiations with a buyer to sell its 154 hectrare landholding on the Gold Coast – home to Warner Bros. Movie World, Wet’n’Wild Golad Coast, Australian Outback Spectacular, Paradise Country and Village Roadshow Studios.
The sale was announced in September by the Melbourne-based company, which has been under pressure to cut its debt via asset sales following a tough year, in which it announced a $66.7 million loss.
As reported by the Gold Coast Bulletin, the land, if sold, would be leased for 30 years, with the company also outlining six 10-year options, meaning a total leasing period of 90 years.
Village Roadshow’s profit was impacted by the deaths of four guests at rival Ardent Leisure’s Dreamworld last year, which caused a sharp drop in visitor numbers and earnings at its theme parks.
Village Roadshow Chairman Robert Kirby, in an address to the company’s annual meeting, said the theme park operator was in “exclusive negotiations with a preferred bidder”.
Kirby advised “the negotiations, which are anticipated to be completed in the next 90 days, will correct our balance sheet and gearing.”
In other news from Village Roadshow’s annual meeting, the company says it is still experiencing low visitor numbers a year after the fatal accident at Dreamworld, but expects to start paying dividends again this financial year.
The company said Gold Coast theme park attendance to 31st October this year was 5.4% behind the prior corresponding period, which was largely before the Dreamworld fatalities.
Village Roadshow expects to see a pick-up in attendance during the Christmas and summer holidays and forecasts its theme parks division will deliver a “substantial improvement” in 2018 full-year earnings, compared to the prior year.
So far in the 2018 financial year, Village Roadshow’s cinema exhibition division’s performance has been significantly below the same period last year.
Image: Village Roadshow's Gold Coast landholding from the air in 2012.
1st December 2017 - MOVIE WORLD ENDS LOCKER HIRE FEES ON SUPERMAN ESCAPE RIDE
29th November 2017 - VILLAGE ROADSHOW MOVES AWAY FROM LOW COST THEME PARK PASSES
22nd September 2017 - WARNER BROS. MOVIE WORLD OPENS SOUTHERN HEMISPHERE’S LARGEST ROLLERCOASTER
19th September 2017 - VILLAGE ROADSHOW TO INSTALL ACCESSO PASSPORT TICKETING SUITE AT KEY ATTRACTIONS
8th September 2017 - VILLAGE ROADSHOW LOOKS TO SELL GOLD COAST THEME PARK LAND
3rd June 2017 - GLOBAL THEME INDEX SHOWS MIXED ATTENDANCE TRENDS FOR THEME PARKS
28th April 2017 - VILLAGE ROADSHOW RESULTS HIT BY DOWNTURN IN THEME PARK VISITS
16th March 2017 - VILLAGE ROADSHOW THEME PARKS BRINGS BACK ITS VIP MAGIC PASS
14th March 2017 - VILLAGE ROADSHOW THEME PARKS HIGHLIGHTS SAFETY AND MAINTENANCE SYSTEMS
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.
Anti Wave International is the original suppliers of top performance swim, aquatic sports, leisure and pool programming equipment. Founded in 1971, Anti Wave International is proud of its…read more
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
Founded in 1961, Myrtha Pools® quickly became Italy’s première swimming pool company, and has since grown into one of the world's leading swimming pool construction…read more
Also at 3 Squill Place, Arndell Park NSW 2148 ATS are global leaders in altitude training and research. From mask systems and inflatable tents to simulated altitude facilities, we help…read more
INTRODUCTION Abel Sports is Australia’s leading manufacturer and suppliers of Goal Posts, sports ground safety netting systems and coaches boxes for Stadiums ,Sports Clubs, Councils and…read more
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
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
get listed with our suppliers directory
Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!