Finance Finance News Ardent Leisure posts $95.2m loss in wake of Dreamworld tragedy
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Ardent Leisure posts $95.2m loss in wake of Dreamworld tragedy

dreamworld accident
Dreamworld has had more problems with its rides. Photo: Getty
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Ardent Leisure, the operator of the Gold Coast’s Dreamworld theme park, has reported half year core earnings at $12.8 million compared to $30.5 million in the prior period.

The company reported a loss of $95.2 million from the impact of the October tragedy where four people were killed on the Thunder River Rapids ride.

Dreamworld was shut down for 45 days between October 25 and December 10, and there was significant reduced attendance when it reopened.

“The effects of this tragedy will be felt for some time and there is much healing still to take place,” chief executive Deborah Thomas said in a statement to the ASX.

“During the shutdown the [company] commissioned and commenced a comprehensive park-wide operations and safety review process.”

Attendance dropped 27.1 per cent, with 906,378 people attending, compared to 1,243,832 in the prior period.

Other one-off events that affected Ardent’s earnings included a five-month closure for refurbishment of Kingpin Crown, and the loss of two months worth of earnings from Health Clubs after its sale in October.

Ardent said its theme park division recorded total revenues of $41.8 million while its Main Event Entertainment arm recorded revenues of $US102.1 million.

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