Plunging Returns for Gold Coast Theme Parks As Guest Stay Away

Tourists continue to steer clear of the Gold Coast theme parks with Village Roadshow reporting a slump in business, saying it may lose up to $10 million for the financial year.

Just a couple of months ago Village had forecast an underlying profit of between $12 million to $17 million.

How could things go so wrong, so quickly?

Village says tourists have stayed away due to bad weather and competition from the Commonwealth Games.

Its share price has plummeted 24% to a five-year low of $2.40 over the past two days.

On the Gold Coast, Village owns and operates Warner Bros. Movie World, Sea World, Wet’n’Wild, Paradise Country, Australian Outback Spectacular and Sea World Resort & Water Park.

It now expects its financials to fall somewhere between a loss of $10 million and break-even.

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