Plunging Returns for Gold Coast Theme Parks As Guest Stay Away

19 April, 2018 Martin Kelly

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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