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Gold Coast parks perform strongly in first half results for FY16

By 28 February 2016 No Comments

Village Roadshow and Ardent Leisure’s Gold Coast parks have performed strongly in the first half of the 2016 financial year, according to the two groups’ recent half yearly performance updates.

Total revenue for Village Roadshow’s Gold Coast parks — Movie World, Sea World and Wet’n’Wild — was $150.7 million, up from $143.5 million in the same period last year.

The entire theme park division for Village Roadshow — which includes the Gold Coast parks plus Wet’n’Wild Sydney and Las Vegas — recorded $168.5 million in revenue, up from $164.3 million.

Village Roadshow’s Gold Coast parks saw a 2.8 per cent increase in attendance, with 2.76 million guests visiting during the period.

However, down south things were not so hot.

Cool weather was blamed for Wet’n’Wild Sydney’s major decline in half yearly attendance, which dropped to 262,000 (down from 342,000).

Ardent Leisure — owners of Dreamworld and WhiteWater World — recorded a 6.6 per cent rise in half yearly revenue to $58.39 million.

Attendance for both parks rose 13.1 per cent to 1.24 million, although per capita spending dropped 5.8 per cent to $46.94.

The group noted that they will follow a similar lead to Village Roadshow and introduce tiered membership ticketing and payment plans in March to further drive per capita yield.