Parques Reunidos acquires Wet 'n' Wild Sydney from Village Roadshow | attractionsmanagement.com news
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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
EAS 2018: Expert urges education initiatives for theme park engagement
Andreas Theve, park historian at the popular Grona Lund theme park in Stockholm, has urged theme park operators to adopt edutainment offerings into their annual calendar, using the Swedish park to demonstrate the success such a scheme can have for an attraction.
EAS 2018: Dutch politician Mona Keijzer opens Euro Attractions Show
Mona Keijzer, state of secretary for the Department of Economic Affairs in the Netherlands, was on hand for the launch of this year's European Attractions Show (EAS) - the largest in the event's history.
Kidzania’s Kidpreneur 2018 to take place in London in October
Edutainment brand Kidzania is bringing back its day-long festival of young entrepreneurship, Kidpreneur, on 13 October 2018 at its London site.
Bates Smart condemns Sydney stadium plans, talks of upcoming "renaissance" in urban renewal
Philip Vivian, director of the multidisciplinary design firm Bates Smart, has criticised plans by the Australian government to demolish and rebuild Sydney's Allianz football stadium at Moore Park.
+ More news   
LATEST JOBS
Education Assistant (Grove Theatre)
Stevenage Leisure Limited
Salary: Competitive Salary & Benefits
Job location: Dunstable, UK
Technician - Gordon Craig Theatre, Stevenage
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Salary: Competitive Salary & Benefits
Job location: Stevenage, UK
Senior Technician - Gordon Craig Theatre, Stevenage
Stevenage Leisure Limited
Salary: Competitive Salary & Benefits
Job location: Stevenage, UK
Logistics and Procurement Manager
Legoland
Salary: Competitive
Job location: Goshen, New York, USA
Head of eCommerce
Merlin Entertainments Group
Salary: Competitive
Job location: Lake Wales, FL, USA
US LEGO Model Production Manager
Merlin Entertainments Group
Salary: Competitive
Job location: Lake Wales, FL, USA
+ 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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