The Calgym/Synergy group has had a long and proud history since 1976 as world leaders in the innovation, design and evolution of commercial strength and conditioning equipment. The Synergy group was…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.
Fun Wheels Pty Ltd are the premium dealer in Australasia for the Dutch company BERG’s commercial and domestic products. Our flagship product is their revolutionary pedal go-kart – the…read more
Quayclean are a national cleaning and waste services partner with proven results in the understanding and delivery of cleaning needs and challenges faced by facilities including; major venues and…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
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
Digonex is a leading provider of customised dynamic pricing solutions to clients in arts and entertainment, sport, attractions, cultural institutions and retail sectors. Digonex’s technology is…read more
Summit Fitness Equipment is now part of NovoFit - see www.ausleisure.com.au/suppliers/novofit/read more
Rhinoplay offers playground equipment in Australia that is safe, durable, and most importantly fun! We specialise in creating unique indoor playgrounds for play centres and outdoor playgrounds for…read more
get listed with our suppliers directory
Get your business noticed in our targeted directory. Viewed by 10,000 industry professionals per week!