Finance Finance News Movie World, Wet ‘n’ Wild theme parks affected by Dreamworld tragedy

Movie World, Wet ‘n’ Wild theme parks affected by Dreamworld tragedy

dreamworld accident
Dreamworld has had more problems with its rides. Photo: Getty
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Village Roadshow has reported attendance by Queenslanders at its theme parks has dropped by more than 12 per cent compared to the prior year since the Dreamworld tragedy, where four people were killed.

Queenslanders make up the majority of attendance – around 60 per cent – and the declines have continued into January 2017, Village Roadshow said.

“Notwithstanding a minimal impact on ticket sales revenue, the decline in attendance has resulted in deterioration in food and beverage, retail and other in-park revenue,” the company said in a statement to the ASX, noting it will “take time for the community to fully recover” from the tragedy.

“The ongoing impact of the Dreamworld incident will become clearer over the coming weeks.”

Village Roadshow operates the Warner Bros Movie World, Sea World and Wet ‘n’ Wild theme parks on the Gold Coast.

Attendance at a Wet ‘n’ Wild park in Sydney has also been similarly affected by the accident, Village said.

Village noted international and interstate visits remain in line with the previous year.

Shares in Village Roadshow dropped 5.4 per cent to $4.21 by 10:41am (AEDT), around a one-month low. The company is due to report its half-year earnings on February 23.

Earlier in January, Ardent Leisure, the operator of Dreamworld, reported a 63 per cent slump in revenue at its theme parks on the Gold Coast since they reopened on December 10.

Two men and two women were killed on the Thunder River rapids ride at Dreamworld in October after a fault in the ride caused two rafts to collide, with one flipping over.


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