AusLeisure

With its New Atlantis precinct at Sea World now complete and operational and plans for ongoing investment at Warner Bros. Movie World, Village Roadshow Theme Parks (VRTP) is expecting that its capital investment and pent-up guest demand will drive summer visitor numbers.

As highlighted by the most recent TEA/AECOM Theme Index and Museum Index, the post-pandemic environment has seen theme parks around the capitalise on pent-up demand for attractions with improving visitor numbers and rising expenditure.

This has certainly been the case on the Gold Coast, where Australia’s theme parks have not only been enjoying a strong peak season but are playing a key role in the city’s COVID-19 recovery with new capital investment.

Its private equity owners, who purchased the group in December 2020, also appear to be back on track financially with owning entity VRG Holdco posting a net loss of $26.4 million for the 12 months to June 2021, an improvement on the previous year's $35.8 million loss.

Looking forward, its most recent accounts advised “in fiscal year 2023, the group expects strong summer trading and improved earnings underpinned by the launches of new attractions.”

Approaching the peak summer season, VRTP is preparing for a bumper period with a host of world-class experiences on offer on the Gold Coast through its theme parks and attractions, which also include Wet’n’Wild Gold Coast, Paradise Country, Topgolf and the Australian Outback Spectacular.

In addition to the Sea World openings, the momentum continues at Wet’n’Wild with the return of Dive’n’Movies following the recent opening of the H2Oasis splash park precinct in December last year - featuring four new attractions including the tallest waterpark slide tower in Australia boasting three heart-racing slides plus a massive splash zone.

Movie World is presenting its White Christmas event - transforming the park into a winter wonderland with one of the largest and most spectacular light displays in the country. 

The cinema-themed attraction is also to benefit from significant additional investment with concepts released in July for a new $40 million Wizard of Oz precinct - that will feature two new family-friendly rides and an immersive experience, surrounding the iconic yellow brick road of the movie.

VRTP is also moving forward with its plans for a $333 million hotel and function centre adjacent to Movie World.

Image: Sea World's newly opened Leviathan wooden rollercoaster.

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