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Published on : Monday, August 7, 2017
Merlin Entertainments is making an attempt to buy Busch Gardens, it has been reported that the company has appointed financial advisers to examine the company.
There will be speculations about the sales and reorganization. Anne Francoise Nesmes, Merlin’s chief financial officer is constantly keeping a watch on Busch Gardens.
He said that SeaWorld’s assets are interesting and something around accommodation can be done. Getting into a right deal with a good partner will fetch the company better financial returns.
The major interest of Merlin lies in acquisition, that forms the core of its strategy. Earlier in 2012 the company expanded to Asia Pacific with Living and Leisure Australia Group. It last year bought a stake in sightseeing company Big Bus Tours.
SeaWorld is still suffering from the damaging legacy of the Blackfish documentary, it had already moved out of the breeding and showing of killer whales.
The second quarter results of SeaWorld will be updated by next week and then only one could gauge the company’s financial plans.
Merlin’s new investment, Legoland New York is making progress. The park supposedly to be number third under the brand in the US will open in 2019.
Goshen, New York town council will do the planning approval.Nesmes was positive that the planning application will come through in the later part of this year.
London is the biggest market for Midway Attractions Division; Merlin benefited from the weak pound with foreign visitors visiting in greater numbers however the domestic demand was reduced due to the recent spate of terrorism in the UK.
The company was cautious on international visitations over the summer trading period due to the lag between international bookings and visitation.
There was an increase of 6.2 percent to 29.7 million with a revenue up of 19.4 percent to $893 million during the first half of the financial year. The pre-tax profit remained unchanged.