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westical

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  4. Runaway Railway

    in Theme Park Discussion

    Posted

    1 hour ago, FoolishMortal999 said:

    True, Who Framed Roger Rabbit may not be as popular as Mickey & Minnie but not by much. He’s extraordinarily popular by Disney fans.

    Disney has five Pirates of The Caribbean attractions across the globe. Do you think two was enough? 

    Pirates is a classic Disney attraction and has had five movies based on it in the last 20 years. 

    WFRR is over 30 years old and Roger Rabbit is not even close to Mickey or Minnie in global popularity. How much Roger merch do you see for sale?

  6. Runaway Railway

    in Theme Park Discussion

    Posted

    1 hour ago, FoolishMortal999 said:

    When Imagineers were planning Runaway Railway, do you think it was a missed opportunity that they didn’t theme it to Who Framed Roger Rabbit? 

    Not really, WFRR is not a well loved property compared to Mickey & Minnie and it already had two rides at two parks. 

  17. Sea World 2020 Maintenance

    in Theme Park Discussion

    Posted

    6 hours ago, Levithian said:

    You cant fly to australia period unless you're a resident, citizen or immediate family member of a resident here. The borders are still closed. There are very few exemptions you can apply for, skilled workers aren't on the list. 

    Well they are...

    Quote
    • delivering services in sectors critical to Australia’s economic recovery (such as financial technology, large scale manufacturing, film and television production and emerging technology), where no Australian worker is available

    They could probably try to argue a major theme park is critical to economic recovery given tourism benefits. Especially if film & TV production counts and they’ve managed to get overseas actors back in. 

    • Like 1

  20. Village Roadshow secures $70 million from lenders and Queensland Government to cover costs

    in Theme Park Discussion

    Posted

    6 minutes ago, T-bone said:

    So does that mean they have to have it paid back at the end of the facility, or do they get said money over the term of 3 years (for example, in ardents case 22 million from the loan a year).

    The entire limit would be available at the start, although there may be conditions regarding how and when they can use it.

    At expiry they would need to agree to refinance it with QTC or pay it out (either with free cash, which is unlikely, or refinance by another lender).

  21. Village Roadshow secures $70 million from lenders and Queensland Government to cover costs

    in Theme Park Discussion

    Posted

    1 hour ago, T-bone said:

    Can someone point to me where it states the loan has to be repaid in 5 years? All I have seen is that the loan is a 3 year term with interest. So it’s not an interest free loan.

    VRL's appears to be a mix of a 1-year and 5-year facility per their ASX release -

    Quote

    $43 million of the new facility is a short-term facility of 12 months with the balance having a 5-year tenor.

    Ardent's is a 3-year facility.

  23. Pacific Equity Partners in talks to acquire Village Roadshow

    in Theme Park Discussion

    Posted

    34 minutes ago, Brad2912 said:

    Any chance you can post the article here? It’s behind a paywall 

    Fair use?

    Quote

    Village Roadshow’s never ending story almost done

    Every good movie needs a cliffhanger or two, so it’s no surprise that the battle for Village Roadshow is heading for another such moment.

    Exclusivity for takeover bidder BGH Capital officially ends today. And while the deadline is not such a big issue – the exclusivity period has been extended a number of times throughout this process and will be again – it is understood the deal is right on the edge of completion.

    BGH got close to wrapping things up yesterday, and is expected to sign on the dotted line in the coming days, sources said.

    That could bring to an end an epic story that is, at its heart, the tale of a fallen star with family problems.

    And Street Talk found a good sign a deal would come to fruition when we were trawling through lodged ASIC documents at the weekend – as you do – and stumbled across a new holding company that counts BGH dealmakers Ben Gray, Simon Harle and Matthew Claughton as its three directors.

    The company’s name?

    VRG Holdco Limited, which is no doubt a new holding company to house Village Roadshow.

    So while a revised scheme arrangement was a week away at most, BGH was getting prepared.

    BGH and Village have been in exclusive discussions since mid-May, when the private equity outfit lobbed a $2.40 non-binding proposal at Village’s board. BGH had put a $4.00 a share bid to the company in January before COVID-19 struck and revenue from Village’s theme parks and cinemas ground to a halt.

    However, even with a new scheme in sight, a thorn in any deal getting away is Village shareholder Mittleman Brothers.

    The major shareholder and New York-based fund manager wants a bit of extra screentime and has expressed that it thinks BGH’s latest $2.40 offer is too low and it wants to see BGH pay $5.

    The shareholder said a sale at $2.40-a-share offer would be ‘‘a shameful act’’ back in May.

    Mittleman has been building a blocking stake in Village and revealed earlier this month that it now held 8.5 per cent of the share register. This shapes Mittleman up as the largest independent shareholder, which could have significant sway on the deal.

     

    One week extension has since been announced by VRL to the ASX -

    Quote

    Village Roadshow Limited (ASX: VRL) (“VRL”) today announced that it has extended by one week the exclusivity period for its discussions with BGH Capital Pty Ltd ("BGH").
    The Transaction Process Deed with BGH has been amended, with a one week extension to 4 August 2020.
    VRL will continue to keep the market informed of any material developments in accordance with its continuous disclosure requirements.

     

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