Theme park tragedy triggers $50 million loss of Dreamworld

Published on : Thursday, February 23, 2017

dreamworldThe operator of Dreamworld theme park of Gold Coast, Ardent Leisure has reported that this renowned tourist attraction has ended up incurring a loss amounting to nearly $49.4 million following the October tragedy that had hit this area claiming four lives.

 

The company has reported that costs amounting to $95.2 million have been incurred from the impact of the tragedy on the Thunder River Rapids ride.

 

For a period of 45 days between 25th October and 10th December, Dreamworld had been shut down. There had been a great deal of reduced attendance when the theme park was reopened later. Deborah Thomas, the chief executive of the theme park feels that the effects of this tragedy would be experienced for quite some time and is still a good deal of healing to take place since then.

 

While the theme park was shut down, the company commenced a park-wide operations and safety review process.

 

The attendance to this park slumped by 27.1%.

 

As many as 906,378 people had visited this theme park in comparison to 1,243,832 people in the prior period. Apart from that, the revenue of Ardent were also adversely affected due to a five-month closure for refurbishment of Kingpin Crown. Also, the loss of two months worth of revenues from the sale of Health Clubs in October impacted its success.

 

Ardent added that the theme park had been capable of recording revenues of nearly $41.8 million and its Main Event Entertainment division had earned about US$102.1 million.

 

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