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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.
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Futuroscope reopens for 2019 with a host of new attractions
The Futuroscope theme park in Poitiers, France, has reopened its doors for the 2019 season and has some big plans for new attractions over the coming years.
Krispy Kreme pops up in London with new flavours
Tourists, shoppers and commuters in Central London will be treated to a special Krispy Kreme experience in March, as the doughnut company opens a pop-up in Great Newport Street, near to Leicester Square and trials new flavours.
Cedar Fair looks ahead with optimism after 2018 results
Cedar Fair has reported positive Q4 and full 2018 figures, along with a new long-term growth target.
US$70m aquarium and wildlife sanctuary mooted for Cambodia
The Cambodian resort city of Siem Reap could become home to a new US$70m (€61.6m, £53.5m) aquarium and wildlife sanctuary, following a meeting between potential investors and the city’s governor.
+ More news   
LATEST JOBS
Visitor Experience Team Leader
The Silverstone Experience
Salary: c £25,000 pa
Job location: Silverstone, Towcester, UK
Retail Manager
The Silverstone Experience
Salary: c £25,000 pa
Job location: Silverstone, Towcester, UK
Active Outdoors Assistant
National Trust
Salary: £8.46 per hour
Job location: Ulverston, UK
Group Travel Trade Manager
The Royal Mint
Salary: Competitive Salary and Benefits
Job location: Llantrisant, Pontyclun, UK
Commercial Operations Director
The National Museum of the Royal Navy
Salary: £60,000 circa per annum
Job location: Portsmouth, UK
Theme Park Resort Duty Managers
Gulliver's Theme Park
Salary: Competitive Salary and Benefits
Job location: Rother Valley, Rotherham, South Yorkshire, UK
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ADVERTISE . CONTACT US

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

©Cybertrek 2019

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