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Dreamworld deaths affect Village Roadshow as operator announces AU$66.7m losses
POSTED 25 Aug 2017 . BY Tom Anstey
Australian operator Village Roadshow is looking to bounce back after a tough twelve months, which has seen the company record full-year losses of AU$66.7m (US$52.8m, €44.8m, £41.2m).

The loss has been attributed to a fatal accident last year at Queensland's Dreamworld theme park – operated by Ardent Leisure, a rival of Village Roadshow. The impact of the tragedy – in which four people were killed as two rafts on the park’s Thunder River rapids ride collided – has been far-reaching, with operators across Australia’s Gold Coast suffering financial losses.

Queensland’s state government this week announced its intention to introduce industrial manslaughter laws, with safety around theme park rides to also be tightened.

Village Roadshow, which owns Warner Bros Movie World, Wet'n'Wild, Sea World, Paradise Country and Australian Outback Spectacular, is hoping to soften the impact with a number of new attractions to draw visitors back to its parks.

DC Rivals – the longest, highest and fastest rollercoaster in the southern hemisphere – is in the works for Movie World, with the Mack-manufactured steel hypercoaster set to open in October.

At Sea World, the operator has a new seal show planned to open in December, while a new polar bear cub will go on display at the end of this month.

In a statement the company said Australia’s theme park market may take some time to recover from the Dreamworld accident, but that it expected earnings to improve in the next fiscal year.

“There is no doubt with the energy and planning in place that we will turn it around,” said Village Roadshow co-chief executive Graham Burke, who added that the Dreamworld accident was making parents wary of sending their children to theme parks, with those affected including places such as Sydney, Melbourne and New Zealand.
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Jobs . News . Products . Magazine
NEWS
Dreamworld deaths affect Village Roadshow as operator announces AU$66.7m losses
POSTED 25 Aug 2017 . BY Tom Anstey
Australian operator Village Roadshow is looking to bounce back after a tough twelve months, which has seen the company record full-year losses of AU$66.7m (US$52.8m, €44.8m, £41.2m).

The loss has been attributed to a fatal accident last year at Queensland's Dreamworld theme park – operated by Ardent Leisure, a rival of Village Roadshow. The impact of the tragedy – in which four people were killed as two rafts on the park’s Thunder River rapids ride collided – has been far-reaching, with operators across Australia’s Gold Coast suffering financial losses.

Queensland’s state government this week announced its intention to introduce industrial manslaughter laws, with safety around theme park rides to also be tightened.

Village Roadshow, which owns Warner Bros Movie World, Wet'n'Wild, Sea World, Paradise Country and Australian Outback Spectacular, is hoping to soften the impact with a number of new attractions to draw visitors back to its parks.

DC Rivals – the longest, highest and fastest rollercoaster in the southern hemisphere – is in the works for Movie World, with the Mack-manufactured steel hypercoaster set to open in October.

At Sea World, the operator has a new seal show planned to open in December, while a new polar bear cub will go on display at the end of this month.

In a statement the company said Australia’s theme park market may take some time to recover from the Dreamworld accident, but that it expected earnings to improve in the next fiscal year.

“There is no doubt with the energy and planning in place that we will turn it around,” said Village Roadshow co-chief executive Graham Burke, who added that the Dreamworld accident was making parents wary of sending their children to theme parks, with those affected including places such as Sydney, Melbourne and New Zealand.
RELATED STORIES
Industrial manslaughter laws to be introduced following Dreamworld tragedy


Queensland’s state government is set introduce industrial manslaughter laws, with safety around theme park rides to also be tightened, following the deaths of four people at Dreamworld last year.
Ardent revenue plummets in wake of DreamWorld tragedy


Ardent Leisure has seen revenue fall by more than half following a fatal accident at its Dreamworld theme park on Australia’s Gold Coast last year.
Dreamworld to reopen 10 December following October deaths


Australia’s Dreamworld will reopen to the public on 10 December following an accident in October that resulted in the deaths of four people.
Four killed at Dreamworld on river rapids ride


Four people have died following an accident on a ride at Dreamworld – Australia’s largest theme park.
MORE NEWS
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PortAventura has expanded its offering at Ferrari Land, introducing a new children's area for visitors to the popular destination as it attempts to reach 5 million visitors in 2018.
Blackpool Pleasure Beach debuts £16.25m Icon rollercoaster
Blackpool Pleasure Beach has debuted its highly-anticipated steel launch coaster – Icon – which opens to the public today (25 May).
Omaha Henry Doorly Zoo set to launch US$22m Asian Highlands exhibit
The Omaha Henry Doorly Zoo and Aquarium is set to launch its brand new US$22m (€18.8m, £16.4m) Asian Highlands Exhibit, taking visitors to the Himalayan mountains and grasslands of Northern India.
Comcast potentially hijacking Disney's Fox deal with new bid
Disney's acquisition of Fox is in jeopardy, after Comcast confirmed plans to top Disney's US$52.4bn (€44.27bn, £39bn) offer for the company.
+ More news   
LATEST JOBS
Visitor Experience Manager
Tate
Salary: £27,769 per annum (inclusive of a £2,500 per annum MRA)
Job location: London, UK
Event Sales Manager
Madame Tussauds
Salary: Competitive
Job location: Hollywood, Los Angeles, CA, USA
Project Manager
Merlin Entertainments Group
Salary: Competitive
Job location: Lake Wales, FL, USA
Operations Manager
Legoland Discovery Centre
Salary: Competitive
Job location: Columbus, OH, USA
Aquarist
Sea Life
Salary: Competitive
Job location: Dallas, TX, USA
SEA LIFE Grounds Team Lead
Sea Life
Salary: Competitive
Job location: California, USA
+ More jobs  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2018

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
ATTRACTIONS MANAGEMENT NEWS
ATTRACTIONS HANDBOOK
PRINT SUBSCRIPTIONS
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