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Parques Reunidos acquires Wet 'n' Wild Sydney from Village Roadshow
POSTED 03 Jul 2018 . BY Tom Anstey
Village Roadshow has announced the sale of its Wet 'n' Wild property in Sydney, Australia, with Spanish operator Parques Reunidos purchasing the waterpark for AU$40m (US$29.6m, €25.4m, £22.4m).

Opened in December 2013 at a cost of AU$140m (US$103.5m, €88m, £78.5m), the waterpark covers 250,000sq m (2.7 million sq ft), with 42 water slides, three pools and a children's area. Rides have been provided by a number of suppliers, including Water Technology Inc, WhiteWater West and ProSlide.

The move is a "unique opportunity" for Parques Reunidos, according to the operator, which said that its first Australian property would provide it the opportunity to build a platform in the country through acquisition deals and the development of new indoor centres.

The deal brings Parques Reunidos' total number of waterparks worldwide up to 22. The company says that it expects to improve performance in the coming years, adding that there is potential to develop a second gate and new themed areas at the park.

The sale of the attraction will result in an overall pre-tax loss of about AU$25m (US$18.5m, €15.9m, £14m) for Village Roadshow, with the money raised from the sale being used to reduce the company's debt levels. The transaction is subject to customary precedent conditions and is expected to be completed in the next three months.

"This investment provides Parques Reunidos an entry into the Australian market and with extensive experience of operating 20 water parks around the world," said a Village Roadshow statement.

"Parques will be able to add value and enhance Wet ’n’ Wild Sydney’s performance over the coming years."

Wet ‘n’ Wild Sydney is one of two Wet 'n' Wild properties in Australia – the other a part of Village Roadshow's Gold Coast entertainment cluster, which also features Warner Brothers Movie World, Australian Outback Spectacular and a recently-launched TopGolf attraction.

Parques Reunidos has increased its attraction presence in recent months, this year acquiring German theme park Belantis, while also striking a deal to launch FC Barcelona-themed attractions around the world. It is also planning to open the first European Lionsgate-branded indoor entertainment centre in Madrid, as well as a Lionsgate attraction in Times Square, New York. The operator has also been appointed to oversee day-to-day operations at Dubai Safari, which has closed its doors until October to undergo improvements.
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NEWS
Parques Reunidos acquires Wet 'n' Wild Sydney from Village Roadshow
POSTED 03 Jul 2018 . BY Tom Anstey
Village Roadshow has announced the sale of its Wet 'n' Wild property in Sydney, Australia, with Spanish operator Parques Reunidos purchasing the waterpark for AU$40m (US$29.6m, €25.4m, £22.4m).

Opened in December 2013 at a cost of AU$140m (US$103.5m, €88m, £78.5m), the waterpark covers 250,000sq m (2.7 million sq ft), with 42 water slides, three pools and a children's area. Rides have been provided by a number of suppliers, including Water Technology Inc, WhiteWater West and ProSlide.

The move is a "unique opportunity" for Parques Reunidos, according to the operator, which said that its first Australian property would provide it the opportunity to build a platform in the country through acquisition deals and the development of new indoor centres.

The deal brings Parques Reunidos' total number of waterparks worldwide up to 22. The company says that it expects to improve performance in the coming years, adding that there is potential to develop a second gate and new themed areas at the park.

The sale of the attraction will result in an overall pre-tax loss of about AU$25m (US$18.5m, €15.9m, £14m) for Village Roadshow, with the money raised from the sale being used to reduce the company's debt levels. The transaction is subject to customary precedent conditions and is expected to be completed in the next three months.

"This investment provides Parques Reunidos an entry into the Australian market and with extensive experience of operating 20 water parks around the world," said a Village Roadshow statement.

"Parques will be able to add value and enhance Wet ’n’ Wild Sydney’s performance over the coming years."

Wet ‘n’ Wild Sydney is one of two Wet 'n' Wild properties in Australia – the other a part of Village Roadshow's Gold Coast entertainment cluster, which also features Warner Brothers Movie World, Australian Outback Spectacular and a recently-launched TopGolf attraction.

Parques Reunidos has increased its attraction presence in recent months, this year acquiring German theme park Belantis, while also striking a deal to launch FC Barcelona-themed attractions around the world. It is also planning to open the first European Lionsgate-branded indoor entertainment centre in Madrid, as well as a Lionsgate attraction in Times Square, New York. The operator has also been appointed to oversee day-to-day operations at Dubai Safari, which has closed its doors until October to undergo improvements.
RELATED STORIES
Lionsgate and Parques Reunidos to open Madrid attraction


Lionsgate and Parques Reunidos have announced plans to open the first European Lionsgate-branded indoor entertainment centre, at the Estación Príncipe Pío in Madrid.
Lionsgate and Parques Reunidos plan Times Square attraction


Lionsgate and Parques Reunidos are bringing a new attraction to the heart of New York City, with plans to launch a branded Lionsgate entertainment centre in Times Square.
Parques Reunidos Group name Peter Long new chair ahead of stock listing


The Parques Reunidos Group – operator of 55 visitor attractions worldwide – has announced several new appointments to its board ahead of a potential listing on the Spanish Stock Exchanges with Peter Long named its new chair.
MORE NEWS
World’s first ever rollercoaster at sea to debut in 2020
Carnival Cruise Line’s Mardi Gras, a cruise ship that debuts in 2020, will feature the first ever rollercoaster at sea.
Sneak peek at Perkins + Will’s open-air museum in Los Angeles
American architecture studio Perkins + Will have released renderings of Destination Crenshaw – an outdoor cultural museum set to rise in South Los Angeles.
DoJ’s SeaWorld investigation “concluded” with no action to be taken
SeaWorld says that the US Department of Justice’s (DoJ) criminal investigation into its response to a highly critical 2013 documentary has been closed, with no charges brought against either the organisation or any individuals.
BIG's panda enclosure all set to debut next spring
Work on Bjarke Ingels Group’s (BIG) Panda House at the Copenhagen Zoo is in full swing and is expected to be completed in time for the bears' arrival next spring.
+ More news   
LATEST JOBS
Fundraising Officer
Eastleigh Borough Council
Salary: Circa £30,000
Job location: Eastleigh, UK
Team Leader
West Cheshire Museums
Salary: £23,111 - £26,470 Pro Rata per annum
Job location: Marston, Northwich, UK
Head of Technical Operations
Eleven Arches
Salary: Competitive
Job location: Bishop Auckland, UK
Visitor Services Officer (Seasonal)
Forestry Commission
Salary: £19,995 - £21,175 per annum
Job location: Buckinghamshire, UK
Visitor Services Officer
Forestry Commission
Salary: £19,995 - £21,175 per annum
Job location: Buckinghamshire, UK
Sales Manager
Hoburne Ltd
Salary: Competitive Salary and Benefits
Job location: Cotswold, UK
+ More jobs  
 


ADVERTISE . CONTACT US

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

©Cybertrek 2018

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