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NEWS
'No plans' to open SeaWorld park in China, says operator
POSTED 27 Jul 2018 . BY Tom Anstey
A statement said that SeaWorld has no plans to bring a park to China
SeaWorld has quashed rumours of a planned expansion into China, with the operator saying it has "no plans" to open a SeaWorld park in the country.

There has been talk of SeaWorld moving into the Chinese market for some time, with Chinese investors Zhonghong Zhuoye Group (ZZG) taking up a majority stake in the operator in March last year.

The deal, which was worth CN¥3bn (US$448.5m, €386m, £342m), included an agreement that SeaWorld would exclusively advise Zhonghong Group on the design and development of future themed entertainment destinations, including theme parks, waterparks and FECs, in China, Taiwan, Hong Kong and Macau.

Speaking later that year, the now former SeaWorld CEO Joel Manby said that plans were still "moving forward in China", with a three-year study to "figure out what is our priority" in the region.

In February this year, SeaWorld’s interim executive chair, Yoshikazu Maruyama, said that ZZG sees "the huge potential of the opportunity with the SeaWorld brand in China in the future", though a new statement from SeaWorld seems to put a damper on that statement.

Speaking to Attractions Management, a representative for SeaWorld said that the operator was not planning to open a park in China any time in the near future.

"We have no plans to open a SeaWorld park in China and, accordingly, have not made any announcements to that effect," said the statement.

China's government has been trying to rein in risky lending and debt in its property sector, including new regulations for theme parks and a tightening of the reins for property giant Wanda.

Outside of its SeaWorld interest, in April, ZZG disclosed in a regulatory filing that it had defaulted on more than CN¥1.1bn (US$161m, €139m, £123m) in borrowings, adding to overdue debt that totalled CN¥2.27bn (US$333m, €286m, £254m). ZZG is currently trying to reach a deal with the Shenzhen-based Kaisa Group over the CN¥1.4bn (US$205m, €176m, £157m) sale of the shares in its Ruyi Island Project in Hainan, which would offer some relief to its debt burden. As part of increased scrutinies over such deals, Chinese authorities have asked for more information regarding the intended use of proceeds from the equity sale and the development status of the project, which is being built at a cost of CN¥12.9bn (US$1.89bn, €1.62bn, £1.44bn) and is due to open in 2019. ZZG had previously referenced 'SeaWorld Haikou' – an indoor family entertainment centre planned for the island – though with the planned sale and statement from the operator, that project appears to be dead in the water.
RELATED STORIES
  SeaWorld targets British tourists as operator plans to reclaim lost visitors


Following an impressive first quarter, which saw a surge in attendance to its attractions, SeaWorld Entertainment is casting its eyes overseas, particularly to the British market, in an attempt to draw back lost customers.
  Results improving for SeaWorld as operator records strong first quarter


SeaWorld could finally be about to turn a financial corner, after the operator reported a strong start to the year with its first quarter results.
  Sesame Place becomes first theme park to be named certified autism centre


The SeaWorld-owned Sesame Place theme park in Philadelphia, Pennsylvania, has become the first theme park in the world to be designated as a certified autism centre.
  Further senior departures from SeaWorld following Joel Manby's resignation


The floodgates have opened for SeaWorld, following the resignation of two more senior executives after the departure of former president and CEO Joel Manby last week.
MORE NEWS
Merlin unveils record-breaking Hyperia coaster at Thorpe Park
Merlin Entertainments has launched its new Hyperia rollercoaster at Thorpe Park to celebrate its 45th year.
Second Chaos Karts launches in Dubai
Live action video game experience Chaos Karts has launched in a 15,000sq ft arena in Al Quoz, Dubai.
Vietnam Van Gogh exhibition uses VIOSO-powered immersive installations
Twenty-five cameras, nine servers, 70 projectors and a range of AV technologies are being used to bring the art of Van Gogh to life in Ho Chi Minh City, Vietnam.
Use of cinematography techniques significantly increases engagement with VR
A study has found that the use of cinematic and video editing techniques can drastically increase the aesthetic appeal and user engagement of virtual reality environments.
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IDEATTACK is a full-service planning and design company with headquarters in Los Angeles. [more...]
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Holovis is a privately owned company established in 2004 by CEO Stuart Hetherington. [more...]
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IAAPA Expo Europe was established in 2006 and has grown to the largest international conference and [more...]
Clip 'n Climb

Clip ‘n Climb currently offers facility owners and investors more than 40 colourful and unique Cha [more...]
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FEATURED SUPPLIER

National Attractions Marketing Conference – an injection of adrenaline for UK attractions
The National Attractions Marketing Conference will see speakers representing some of the UK’s top visitor attractions and best-in-class marketing agencies gather on 6 June at Drayton Manor Theme Park & Resort in Staffordshire. [more...]
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06-06 Jun 2024

National Attractions Marketing Conference

Drayton Manor Theme Park & Resort, Tamworth, United Kingdom
06-07 Jun 2024

World Sauna Forum 2024

Sataman Viilu , Jyväskylä, Finland
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Jobs    News   Products   Magazine   Subscribe
NEWS
'No plans' to open SeaWorld park in China, says operator
POSTED 27 Jul 2018 . BY Tom Anstey
A statement said that SeaWorld has no plans to bring a park to China
SeaWorld has quashed rumours of a planned expansion into China, with the operator saying it has "no plans" to open a SeaWorld park in the country.

There has been talk of SeaWorld moving into the Chinese market for some time, with Chinese investors Zhonghong Zhuoye Group (ZZG) taking up a majority stake in the operator in March last year.

The deal, which was worth CN¥3bn (US$448.5m, €386m, £342m), included an agreement that SeaWorld would exclusively advise Zhonghong Group on the design and development of future themed entertainment destinations, including theme parks, waterparks and FECs, in China, Taiwan, Hong Kong and Macau.

Speaking later that year, the now former SeaWorld CEO Joel Manby said that plans were still "moving forward in China", with a three-year study to "figure out what is our priority" in the region.

In February this year, SeaWorld’s interim executive chair, Yoshikazu Maruyama, said that ZZG sees "the huge potential of the opportunity with the SeaWorld brand in China in the future", though a new statement from SeaWorld seems to put a damper on that statement.

Speaking to Attractions Management, a representative for SeaWorld said that the operator was not planning to open a park in China any time in the near future.

"We have no plans to open a SeaWorld park in China and, accordingly, have not made any announcements to that effect," said the statement.

China's government has been trying to rein in risky lending and debt in its property sector, including new regulations for theme parks and a tightening of the reins for property giant Wanda.

Outside of its SeaWorld interest, in April, ZZG disclosed in a regulatory filing that it had defaulted on more than CN¥1.1bn (US$161m, €139m, £123m) in borrowings, adding to overdue debt that totalled CN¥2.27bn (US$333m, €286m, £254m). ZZG is currently trying to reach a deal with the Shenzhen-based Kaisa Group over the CN¥1.4bn (US$205m, €176m, £157m) sale of the shares in its Ruyi Island Project in Hainan, which would offer some relief to its debt burden. As part of increased scrutinies over such deals, Chinese authorities have asked for more information regarding the intended use of proceeds from the equity sale and the development status of the project, which is being built at a cost of CN¥12.9bn (US$1.89bn, €1.62bn, £1.44bn) and is due to open in 2019. ZZG had previously referenced 'SeaWorld Haikou' – an indoor family entertainment centre planned for the island – though with the planned sale and statement from the operator, that project appears to be dead in the water.
RELATED STORIES
SeaWorld targets British tourists as operator plans to reclaim lost visitors


Following an impressive first quarter, which saw a surge in attendance to its attractions, SeaWorld Entertainment is casting its eyes overseas, particularly to the British market, in an attempt to draw back lost customers.
Results improving for SeaWorld as operator records strong first quarter


SeaWorld could finally be about to turn a financial corner, after the operator reported a strong start to the year with its first quarter results.
Sesame Place becomes first theme park to be named certified autism centre


The SeaWorld-owned Sesame Place theme park in Philadelphia, Pennsylvania, has become the first theme park in the world to be designated as a certified autism centre.
Further senior departures from SeaWorld following Joel Manby's resignation


The floodgates have opened for SeaWorld, following the resignation of two more senior executives after the departure of former president and CEO Joel Manby last week.
MORE NEWS
Merlin unveils record-breaking Hyperia coaster at Thorpe Park
Merlin Entertainments has launched its new Hyperia rollercoaster at Thorpe Park to celebrate its 45th year.
Second Chaos Karts launches in Dubai
Live action video game experience Chaos Karts has launched in a 15,000sq ft arena in Al Quoz, Dubai.
Vietnam Van Gogh exhibition uses VIOSO-powered immersive installations
Twenty-five cameras, nine servers, 70 projectors and a range of AV technologies are being used to bring the art of Van Gogh to life in Ho Chi Minh City, Vietnam.
Use of cinematography techniques significantly increases engagement with VR
A study has found that the use of cinematic and video editing techniques can drastically increase the aesthetic appeal and user engagement of virtual reality environments.
Disneyland Paris renames theme park as part of $2 billion transformation
Disneyland Paris has unveiled a new name for Walt Disney Studios Park as part of the park’s US$2 billion transformation.
UK's Royal attractions had a bumper year in 2023
Numbers from the Association of Leading Visitor Attractions, (ALVA) show that Royal attractions saw a huge increase in visitor numbers during 2023 – the coronation year of King Charles III.
+ More news   
 
COMPANY PROFILES
IDEATTACK

IDEATTACK is a full-service planning and design company with headquarters in Los Angeles. [more...]
Holovis

Holovis is a privately owned company established in 2004 by CEO Stuart Hetherington. [more...]
IAAPA EMEA

IAAPA Expo Europe was established in 2006 and has grown to the largest international conference and [more...]
Clip 'n Climb

Clip ‘n Climb currently offers facility owners and investors more than 40 colourful and unique Cha [more...]
+ More profiles  
FEATURED SUPPLIER

National Attractions Marketing Conference – an injection of adrenaline for UK attractions
The National Attractions Marketing Conference will see speakers representing some of the UK’s top visitor attractions and best-in-class marketing agencies gather on 6 June at Drayton Manor Theme Park & Resort in Staffordshire. [more...]
CATALOGUE GALLERY
+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

06-06 Jun 2024

National Attractions Marketing Conference

Drayton Manor Theme Park & Resort, Tamworth, United Kingdom
06-07 Jun 2024

World Sauna Forum 2024

Sataman Viilu , Jyväskylä, Finland
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media
Tel: +44 (0)1462 431385

©Cybertrek 2024

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