Is Dreamworld in danger of closing

[Park Fan]

Looking at Dreamworld now the park is clearly a shell of its former self with many classic attractions now closed, a DreamWorks licensing agreement fast approaching its expiration, a safety reputation that has been destroyed and attendance that has all but collapsed from its heights of over 2 million annual visitors. I worry that if steel taipan isnt the roaring success that Dreamworld needs it to be then the park may end up forced to sell off its land and shut its doors forever in a fashion similar to what happened at wonderland sydney.

[Brad2912]

The QLD govt has pumped tens of millions into the place in the past year to help it through. That wouldn’t have happened if it’s entire future hinged on one ride. 

[Park Fan]

39 minutes ago, Brad2912 said:

The QLD govt has pumped tens of millions into the place in the past year to help it through. That wouldn’t have happened if it’s entire future hinged on one ride. 

I wonder if in the event of the park being about to close whether the state government would bail it out or opt to let it close and instead try to attract a new park to the city instead.

Edited March 24, 2021 by Park Fan

[DaptoFunlandGuy]

This isn't the first time Dreamworld has been in financial difficulty. QGOV didn't step in then, and I can't imagine they'd just 'give' money to them to keep them going - it'd be a commercially unfair arrangement unless they did the same thing for village, and any other tourist destination that needed it.

The loans by Qtreasury are probably the extent of QGOVs assistance - although they could make further loans if the first ones dont default. I'm sure there are several private buyers that are interested in jumping in, but they have to wait for the price to be right. When the CEO has performance bonuses in his contract tied to when the park sells, you know thats their driver.

[Park Fan]

3 hours ago, DaptoFunlandGuy said:

This isn't the first time Dreamworld has been in financial difficulty. QGOV didn't step in then, and I can't imagine they'd just 'give' money to them to keep them going - it'd be a commercially unfair arrangement unless they did the same thing for village, and any other tourist destination that needed it.

The loans by Qtreasury are probably the extent of QGOVs assistance - although they could make further loans if the first ones dont default. I'm sure there are several private buyers that are interested in jumping in, but they have to wait for the price to be right. When the CEO has performance bonuses in his contract tied to when the park sells, you know thats their driver.

Any ideas of who would want to buy the park. Apart from property developers and Merlin I cant think of anyone who would be all that interested.

Edited March 25, 2021 by Park Fan

[Jdude95]

27 minutes ago, Park Fan said:

Any ideas of who would want to buy the park. Apart from property developers and Merlin I cant think of anyone who would be all that interested.

BGH Capital isn't a theme park operator or a property developer but they bought Village. 
It all comes down to whether a company can find value in the park/land in anyway that makes it worthwhile to buy it.