"Significant" new attractions to be announced at Dreamworld

[New display name]

According to Ardents full year results DW have contracts executed for significant new attractions to be announced by the end of the year.

[pieboy]

That's great! Would love to have a read if you've got a source.

[New display name]

PowerPoint Presentation (markitdigital.com)

[Vidgamer]

Plural = exciting. 

[Tim Dasco]

[Naazon]

Genuinely exciting and terrifying.

Terrifying because I promised my family DW passes when they have 1-2 more rides and financially I'm not ready for that.

[Tim Dasco]

Also worth noting this:

"Ardent Leisure Group Limited (ASX:ALG) announces that, with effect from today, its Theme Parks and Attractions Division CEO Greg Yong will assume the position of Ardent Leisure Group CEO in addition to his current role."

 

With Ardent selling of main event and the theme parks its main division seems Greg is now the CEO of the entire Ardent Leisure Group.

[New display name]

[Tim Dasco]

1 minute ago, New display name said:

Dr Gary Weiss's position has not changed, he remains the Chairmen of the board, the group did not have a CEO since 2018. 

"Greg will continue to act in his current role as CEO of Ardent’s Theme Parks and Attractions Division and his remuneration remains unchanged as a result of the appointment. Ardent has not had a Group CEO since June 2018 and therefore Mr Yong is not replacing any existing executive as Group CEO."

[New display name]

@Tim Dascoremind me never to invite you to a party.😵

[DaptoFunlandGuy]

Visitation up 18%, ticket sales (value) up 61%, revenue up 37%. 

(And a $2Million Koala grant) 🤣

40 minutes ago, Tim Dasco said:

seems Greg is now the CEO of the entire Ardent Leisure Group.

Yeah, since Ardent only HAS a themeparks group now, it makes sense to make the theme park CEO... THE CEO...

@Richard used to do really indepth financial analysis on the end of year park results. I'd be keen to hear your analysis this time around as it seems like the park has really turned the corner and started to climb the hill...

[Smol bean]

The most realistic announcement is a reannouncement of the ABC kids world refurb but I would love for a family ride (Dark ride, Water Ride) around the blue lagoon/BB building site to be announced but that's probably unrealistic 

[New display name]

Anything less than this and it will be a lie. /s

 

or this.

 

 

[Tim Dasco]

Reading more into the reports themselves:

“We note that international visitation is still well below pre-pandemic levels, and this is having a material impact on non-holiday periods whilst the macro-economic outlook remains uncertain. Despite these factors, the business is well positioned with a strong, unencumbered balance sheet, fully owned land holdings and a pipeline of exciting new attractions set to be announced over the next six months.”

 

That last line sounds pretty interesting... multiple announcements or multiple attractions. With contracts supposedly in the works we could see something major open next summer. Mack Power Splash would be good along with a Bluey dark ride/ABC kids refurb. Followed up with a RMC the year after.

[franky]

I'm not a financial guy by any stretch, but that report reads like everything it going to be sunshine and rainbows for Ardent, yet despite ticket sales and attendance being up, they're still running at a loss. It's less of a loss than last FY, but its still in the red.

Can anyone explain?

 

I also noted the following on pg 28:

So does this mean they'll have projects planned to announce for this, and the next two FY's?

[Richard]

1 hour ago, DaptoFunlandGuy said:

@Richard used to do really indepth financial analysis on the end of year park results. I'd be keen to hear your analysis this time around as it seems like the park has really turned the corner and started to climb the hill...

Won't have the time for anything like that this time around.

The results are abysmal though. 140,000 uptick in attendance (from their worst year on record) despite a major new attraction and pent up travel demand that smashed airlines, accommodation and the Village Parks for the second half of the year? Hard to read anything into these results other than something is seriously amiss with their overall strategy.

30 minutes ago, franky said:

It's less of a loss than last FY

It's more of a loss. That's a spectacularly misleading graph they put in there for some reason.

 

[New display name]

11 minutes ago, Richard said:

Hard to read anything into these results other than something is seriously amiss with their overall strategy.

Years of neglect isn't going to be fixed with one coaster.

[Richard]

1 hour ago, New display name said:

Years of neglect isn't going to be fixed with one coaster.

Put to one side the bigger picture issues that plague Dreamworld concerning product offering and the brand’s reputation; no one is expecting them to be top of their game. But they were handed a win for the second half with Steel Taipan, Village’s shortcomings and the end of most Covid restrictions. These results don’t reflect any of that.

Edited August 25, 2022 by Richard

[Chalky]

1 hour ago, Richard said:

The results are abysmal though

Fully agree, this is not confidence building for any investor.  By the way, why is the so called ex-Disney theme park guru Ardent Leisure non executive Director doing in the US? why has this individual not be hear of, what has she contributed what is her forward looking plan for this struggling theme park.

Is it time for new management.  

[New display name]

1 hour ago, Richard said:

Put to one side the bigger picture issues that plague Dreamworld concerning product offering and the brand’s reputation; no one is expecting them to be top of their game. But they were handed a win for the second half with Steel Taipan, Village’s shortcomings and the end of most Covid restrictions. These results don’t reflect any of that.

Isn't it the bigger picture issues stopping DW from getting out of the slump it is in?    DW closed its drawcards without replacements because of DW’s mismanagement.  DW never had plans on what would happen when the rides became old.  DW got into to the cycle of delivering us never ending spin & spews with no intention to ever delivery a showstopper. 

I can’t see how you think DW should be doing better than MW or keep up with MW when you know where Greg is starting from and how long it takes to get one new attraction going.

[Richard]

20 minutes ago, New display name said:

I can’t see how you think DW should be doing better than MW or keep up with MW

Wait, what? Where’d you get that idea from? That’s not an argument anyone on the planet is making. 

[New display name]

It sounded like you expect DW's rebound from Covid to be inline with MW rebound.   If MW didn't make a profit for the full year, how do you expect DW to make a profit?

 

The results show attendance is up 19% "pre-covid".

Ticket sales is up 62% "pre-covid"

DW is moving in the right direction, so how is this not a good thing?

Edited August 25, 2022 by New display name

[Richard]

1 hour ago, New display name said:

It sounded like you expect DW's rebound from Covid to be inline with MW rebound.   If MW didn't make a profit for the full year, how do you expect DW to make a profit?

I never said anything close to that. That’s a strawman argument that you’re welcome to debate further with yourself. 
 

1 hour ago, New display name said:

The results show attendance is up 19% "pre-covid".

Ticket sales is up 62% "pre-covid"

Neither of those statements are correct. They’re up ~19% and 62% respectively on the prior corresponding period. In absolute terms FY22 is the second worst year on record (after FY21). Annual attendance is still about a third what it was pre-TRR and half what it was 2017-19 regardless of the creative language, cherry-picked benchmarks and obtuse graphs in today’s results.

If you want to be optimistic about today’s results, that’s cool. But there’s a reason the market cap for Ardent is essentially the cash they have in the bank from the Main Event sale plus the value of the land Dreamworld occupies.

[New display name]

You're unwilling to take anything anything else into account.  6 months of Covid trading, westtest trading.   But no, it's all DW fault.🤷‍♂️ 

[Tricoart]

It's all because of those damn koalas...