Dreamworld reviewing its master plan.

[jake_hunt]

My two cents on the issue is that we need to remember Ardent is a company who provides income for people and families. While I'm sure they have the public's interests and demands at heart, if Dreamworld is losing them money, or not making a justifiable profit, their hand may be forced, and the park may have no future. We can only hope that Deborah Thomas' words have some element of truth, and that reinvestment in the park might put it back in a healthy financial position. Or, we could hope that they sell the park to someone with an interest in maintaining and investing in it.

I can see both sides of the story, and while I hope Dreamworld can stay on its feet and improve greatly over the next few years, you have to acknowledge that the financial aspect of the park would be the weakest it has been in a long time, given recent events. Here's hoping.

[rappa]

What about all the people and families that work at the park? If the park closes then no income for them.

All the sell off does is create income for shareholders.

 

[Reanimated35]

17 minutes ago, djrappa said:

 

All the sell off does is create income for shareholders.

 

Which seem to be all Ardent really care about sadly. 

Happy shareholders= bigger bonus for them. 

[wikiverse]

6 hours ago, jake_hunt said:

My two cents on the issue is that we need to remember Ardent is a company who provides income for people and families. While I'm sure they have the public's interests and demands at heart, if Dreamworld is losing them money, or not making a justifiable profit, their hand may be forced, and the park may have no future.

Dreamworld was profitable.  It was making Tens-of-Millions of dollars a year in profit.

Those profits were not being re-invested back into the park.  They were being used to build  Main Event Bowling Alleys in the United States.

It is exactly that lack of re-investment into maintenance, park safety, and staff training that Dreamworld now finds itself in a position with 3 major rides closed, another undergoing extensive maintenance and a damaged brand - at a time when their competitor is building the largest and most expensive single attraction at an Australian Theme Park.

I'm not buying the 'poor Ardent - just trying to feed hungry mouths' nonsense for a second.  If they had been re-investing in the park, instead of bowling alleys they wouldn't be having these problems at all. 

This is a self-made problem for Ardent and I suspect a lot of people on this forum believe Ardent haven't learned a thing from it.

[pin142]

It would seem mainly US bowling alleys too as this year in Queensland Kedron and Canon Hill are either closed or closing. They seem focused on the amusements and social bowling which is why co-incidentally there is a Kingpin and Playtime opening at Westfield Chermside as part of the new dining area precinct as part of the current centre expansion. Both Kedron and Canon Hill are also examples of a company not willing to invest in an outdated centre. Chasing the easy dollar (new centre instead of refurbishing an older one) seems to be the way things are done throughout Ardent at the moment.

[Spotty]

So... how long until the Richlands one closes next? As that centre is quite run down as well.

[Reanimated35]

15 hours ago, pin142 said:

 

It would seem mainly US bowling alleys too as this year in Queensland Kedron and Canon Hill are either closed or closing

 

I could have sworn they were talking about closing Cannon Hill for years now. 

[Brad2912]

Kedron & Canon have been in the cross hairs for a few years. Kedron likely to stay open under an independent operator, but Canon will be levelled

[Reanimated35]

Maybe it's already gone? 

[pin142]

Can confirm the closing of Canon Hill as they have already removed the lanes from there.

[Brad2912]

Deborah Thomas’s stint as the chief customer officer of entertainment group Ardent Leisure has come to an end, almost a month before it began. Surprise!

Just over two months ago, Ardent Leisure chairman George Venardos announced that Thomas would step down as the group’s chief executive and be replaced by former Nine executive Simon Kelly.

The plan, chairman Venardos revealed in late April, was that Thomas was to move from the CEO role to the newly created role as chief customer officer on July 1.

As of late yesterday, that’s no longer the case, as revealed by Margin Call online last night.

Thomas — who was close to the group’s former longstanding chairman Neil Balnaves — is now an outgoing Ardent executive. The chief customer officer role has been scuttled entirely.

The former Australian Women’s Weekly editor will also step down from the Ardent board, which she joined in late 2013.

As of July 1, Thomas’s only formal role with the company — which last year was rocked by the death of four customers at its Dreamworld theme park — will be as a consultant.

http://www.theaustralian.com.au/business/margin-call/margin-call-deborah-thomas-to-exit-troubled-dreamworld-operator-ardent-leisure/news-story/9856eb84dbb8b3efeb453d231530dc81

 

[New display name]

Now when we don't get a Downtown Disney they can blame Deborah Thomas.  From the outside, it looks like Dr Gary Weiss and Mr Kevin Seymour got there meeting.

Deborah Thomas Transition Arrangements

 

 

On 26 April 2017, Ardent announced transitional arrangements relating to Deborah Thomas, Chief Executive Officer and Managing Director. Those arrangements have been superseded by new arrangements subsequently agreed by Ms Thomas and the Board, as follows:

 

 

 

•     Ms Thomas will step down from the Board and her position as Chief Executive Officer and

Managing Director and cease employment with effect from 1 July 2017;

•     In accordance with her existing employment agreement, Ms Thomas will be paid a termination benefit of $731,291 (equal to 12 months average base remuneration);

•     Entitlements under the Group’s Deferred Short Term Incentive Plan which have not vested by 1

July 2017 will be forfeited;

•     Ms Thomas will retain the right to previously granted but unvested entitlements under the Group’s Long Term Incentive (LTI) plan which remain subject to performance criteria.  Vesting of those entitlements will remain subject to Ardent achieving TSR and EPS growth targets as specified in the LTI plan.  Unvested LTI entitlements that are subject to tenure will be forfeited;

•     Ms Thomas and Ardent have entered into a transitional consultancy arrangement, whereby Ms Thomas will provide ongoing support to the CEO, senior management and Board of Ardent in respect of the pending Coronial Inquiry into the Dreamworld tragedy;

•     Ms Thomas will be paid a consultancy fee of $3,000 per day, for each day reasonably expended in relation to the Coronial Inquest. The Board has determined this arrangement is appropriate based on external professional advice and market benchmarking; and

          •     The consultancy agreement can be terminated by either party with one month’s notice

                   following the conclusion of the Coronial Inquiry.

Edited June 12, 2017 by Skeeta

[New display name]

The Wolves are making there move.  

Why DR Gary Weiss & Mr Kevin Seymour want to be on the board is the big question.

(Ariadne Australia Ltd and its associates (“Ariadne”) advise that they have given notice to Ardent Leisure Group (ASX: AAD) of their intention to call and arrange to hold a general meeting of the members of Ardent Leisure Limited pursuant to section 249F of the Corporations Act 2001 (Cth) in order to move resolutions relating to the removal of directors and the appointment of additional directors).

If you want to read Ardent's update on the matter head over to the ASX release.

Or some of the papers a running a story on it.

http://www.smh.com.au/business/property/ariadne-calls-ardent-board-concerns-utter-nonsense-20170614-gwr5y3.html

 

Edited June 15, 2017 by Skeeta

[DaptoFunlandGuy]

Who is "there" and why are the wolves making them move? Surely it would be better for the wolves to make their own move?

[New display name]

@AlexB No!  Nobody knows who moves where or where they’re happening and they might be happening over their.

Does anybody believe Ardent's infighting will cause Ardent to drop the ball further and slow DW’s recovery.

[Reanimated35]

48 minutes ago, Skeeta said:

Does anybody believe Ardent's infighting will cause Ardent to drop the ball further and slow DW’s recovery.

That implies they're holding the ball currently. 

[New display name]

I do admit the location of the ball is still up for debate.

[New display name]

Interview with one of the major investors who wants a position on the board.

 

(Mr Seymour, who holds just under 4 per cent of Ardent, said he did not wish to be critical of Ardent’s response to the accident, a tragedy he said, “I would not wish on any company.”

He said his criticism was more focused on the company’s failure to listen to investors like Ariadne who were experienced in building businesses. He said Ms Thomas’ sudden departure was “mystifying” as she was supposed to stay and help grow the Australian operations.

Mr Seymour, who serves as Ariadne deputy chairman, said there had been significant underinvestment in Dreamworld in the past few years.

“Dreamworld is an iconic Queensland business that creates jobs for Queenslanders,” Mr Seymour said.

“But if you look at theme parks around the world like Disney, the owners constantly reinvest in the business)

 

Now I don't know what to think of Mr Seymour push to get on the board. 

Do these two shareholders want to rebuild DW or are they in it to make a quick profit and run?

Edited June 15, 2017 by Skeeta

[Brad2912]

DW has fired its first bow in retaliation to MW's DCR, announcing today that they are introducing to the park..... blindfolds.. 

Looking for the ultimate thrill ride experience? For the first time ever, brave Dreamworld’s thrill rides at night….  BLINDFOLDED! Take heart-thumping fun to a whole new level at our Park After Dark event on Saturday June 24.

The added adrenaline of having no view of the next drop, turn or spin will create the ultimate thrill-seeking experience, exclusive to this event only!

#ParkAfterDark | http://bit.ly/ParkAfterDark2017

BOOM!

Edited June 16, 2017 by Brad2912

[Gazza]

Didn't they do something like that during an Xtreme world promotion back in the early 2000s? They also ran a more intense cycle on Wipeout too.

[GoGoBoy]

8 hours ago, Skeeta said:

Interview with one of the major investors who wants a position on the board.

Mr Seymour, who serves as Ariadne deputy chairman, said there had been significant underinvestment in Dreamworld in the past few years.

“Dreamworld is an iconic Queensland business that creates jobs for Queenslanders,” Mr Seymour said.

“But if you look at theme parks around the world like Disney, the owners constantly reinvest in the business)

Somebody hand over the company to this man! Knows exactly what DW needs.

[MickeyD]

4 hours ago, Brad2912 said:

DW has fired its first bow in retaliation to MW's DCR, announcing today that they are introducing to the park..... blindfolds.. 

Looking for the ultimate thrill ride experience? For the first time ever, brave Dreamworld’s thrill rides at night….  BLINDFOLDED! Take heart-thumping fun to a whole new level at our Park After Dark event on Saturday June 24.

The added adrenaline of having no view of the next drop, turn or spin will create the ultimate thrill-seeking experience, exclusive to this event only!

#ParkAfterDark | http://bit.ly/ParkAfterDark2017

BOOM!

Omg I actually thought you were joking?? WTF DW.. SERIOUSLY W. T. F.

[Santa07]

The blindfolded thing is just a massive gimmick, doesn't excite me at all. Honestly the only ride it'll probably be effective on is HWSW, since all the other rides are either shuttle coasters, flat rides, or too boring for blindfolds to have any effect (yes, that last one was referring to MDMC).

 

[Jay Jay The Jet Plane]

1 hour ago, Santa07 said:

Honestly the only ride it'll probably be effective on is HWSW, 

 

And you will be happy to hear that's one of the rides where you can't wear the blindfold on..

[ThemeTendo]

"For safety reasons, only blindfolds purchased from Dreamworld may be used on the night and cannot be used on Giant Drop, Buzzsaw and Hot Wheels SideWinder. Blindfolds will be available for $4 from various outlets upon arrival at Dreamworld on the night. Safety regulations apply."

Get your very own $4 blindfold - it has the Dreamworld Safe! tick of approval and we won't allow it on these three (major) rides. (but Tower of Terror is completely fine!) However, if you want a similar "Dreamworld Blindfold" experience on the three unavailable rides, feel free to close your eyes.

Really Dreamworld? Blindfolds at night? That's all you could come up with?

Edited June 17, 2017 by ThemeTendo
I don't like how I worded it...