Published on : Thursday, August 24, 2017
Village Roadshow that is a major cinemas and theme park operator is hopeful that a new rollercoaster, seal sow, Star Wars movie and a polar bear cub are likely to enable it to steer clear of the continued adverse impact of the fatal Dreamworld incident on the industry.
Village Roadshow had incurred loss of nearly $66.7 million in the year till 30th June, down from a profit of $15.7 million in the prior year.
Graham Burke who is the co-chief executive of Village Roadshow said that 2016 to 2017, as a financial year was a tragic one since the incident at Dreamworld on Gold Coast triggered a dramatic drop in the visitor arrivals and earnings at other theme parks as well.
Village Roadshow owns Warner Bros Movie World, Sea World, Wet’n’Wild and the Australian Outback Spectacular.
In a certain statement, Burke said that the great news is that the latest development does not reflect any underlying issue with their primary business and there is absolutely no doubt, with effective planning that they would be capable of turning around the scenario to a more favorable dimension.
To accelerate the amendment, the company would be launching the DC Rivals HyperCoaster that is the fastest, highest and longest rollercoaster in the southern hemisphere.
A fresh polar bear cub would also be on display at Sea World by August end and a new seal show would open here in December.
The earnings of this company from film distribution had also fallen in 2016 to 2017 on account of the low performance of movies like Power Rangers, Deepwater Horizon, etc. Village Roadshow said that its cinema exhibition division enjoyed an extraordinary year as it welcomed a boost by the release of Star Wars: The Force Awakens despite the fact that the earnings had dropped slightly from record levels last year.