Coast Entertainment’s FY24 - Results & Announcements

[themagician]

Recently Coast Entertainment (operators of Dreamworld, WhiteWater World & SkyPoint) had their 2023/24 Financial Year Presentation. Here is a summary:

Visitation was up 14.3% compared to last financial year, but international visitation is still down. Ticket sales value had increased by 3.1%. Revenue was up 3.8%, which is up by 29.6% compared to FY2019. They have no debt! And this is the first year they’ve made a profit since 2016.

They had about $1 million worth of damages from the Summer storms.

Their current main focuses as a business are safety, revenue, people and business transformation. Employee and safety scores remain higher than pre-COVID. Attraction operating time (excluding maintenance periods) is at 97%. Their Global Review Index (Score out of a 100 that is generated from online review parties; i.e. Google, Trip Advisor) for SkyPoint is at 90.8 and 87.6 for DW/WWW. For comparison, the Village parks sit at 80.7.

Their solar system will be complete early 2025.

Tiger Island’s transition will be completed in the first half of next year (no more direct human interaction).

Some older attraction will be receiving upgrades to improve guest experience and extend attraction’s life.

The land development (areas around the parks that the company own) application has been submitted and is under review by council.

Rivertown (Jungle Rush & Motors) is on track to open in December (unless there are major weather delays). $24 million of this development remains to be funded next financial year. The Billabong Restaurant will become ‘Jungle Jane’s’ and will be a highly immersive restaurant, set to open late 2025.

Overall, the park seems to be doing very well and there going to be some exciting investments in the coming years.

Edited August 24 by themagician

[Themepark Enthusist]

10 hours ago, themagician said:

Some older attraction will be receiving upgrades to improve guest experience and extend attraction’s life.

I just read through it, I’m curious where did you see this… did it mention any rides in particular?

[New display name]

23 hours ago, themagician said:

Overall, the park seems to be doing very well and there going to be some exciting investments in the coming years.

I don’t believe DW is making a profit yet.

I don't know where you're getting your info from, but I've seen, DW's investment will be toned down after Rivertown. 

"Some older attraction will be receiving upgrades to improve guest experience and extend attraction’s life."

This is what DW is focusing on now.

 

[themagician]

3 minutes ago, New display name said:

I don't know where you're getting your info from

I read through the results presentation from last week, but there’s a chance I miss interrupted this.

[DaptoFunlandGuy]

On 25/08/2024 at 8:36 AM, themagician said:

$24 million of this development remains to be funded next financial year.

Just for clarity's sake, the report said it was to be funded in FY25 - which is the FY we are currently in.

 

[Baconjack]

On 25/8/2024 at 8:36 AM, themagician said:

Some older attraction will be receiving upgrades to improve guest experience and extend attraction’s life.

This is probably Claw/motocoaster no?

[Levi]

Gold Coaster and Giant Drop have been refurbed in recent years, so i don’t think it’s “their new focus now”, it’s always been an ongoing project.

the only two left would be The Claw and Motorcoaster, hopefully both get new restraint systems with whatever upgrade they’re getting.

[themagician]

On 25/8/2024 at 6:59 PM, Themepark Enthusist said:

I just read through it, I’m curious where did you see this… did it mention any rides in particular?

 

2 hours ago, Tricoart said: