Parkz News

Ardent Leisure's sale of its bowling division points to Dreamworld sale next

26 posts in this topic

12 minutes ago, dukeofwhales said:

Ardent Leisure are a publicly owned company, it's their duty to shareholders to sell the land to the highest bidder.

But those of us who love theme parks have other priorities, as you'd expect! 

Why post in this forum if you're more interested in your shareholder return? 

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Thanks @Richard and the Parkz Crew for delivering another informative and well thought out read! You are doing a mighty fine job of getting people talking about the juicy stuff that matters in our Parks.

I really hope Ardent do sell DW - and in 2018,  because frankly they are possibly the worse thing that ever happened to the place.

Not only do they need a new Owner but as Richard put, an Owner who knows and cares about delivering the Theme Park experience. A business that is not in it for a quick buck and one that has the big bucks to spend on it's ageing infrastructure.

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I'm sure the media would seize on the opportunity to make comparisons with Merlin and the Smiler incident and TRRR.

Although Merlin have handled Alton's incident far better, I really don't think they would want to own two parks with such a history.

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ASX RELEASE

ARDENT LEISURE COMPLETES SALE OF THEBOWLING & ENTERTAINMENT DIVISION

 

Ardent Leisure Group (ASX: AAD) is pleased to announce that it has today (30.04.2018) completed the sale of the Bowling& Entertainment Division to The Entertainment and Education Group, who also own and operate the Timezone family entertainment centres, as announced to the market on 20 December 2017.

 

Dr Gary Weiss, Chairman of Ardent, said “The sale of the Bowling &

Entertainment Division will strengthen Ardent’s balance sheet and enhance the Group’s capacity to continue the roll out of Main Event entertainment centers in the United States and fund new attractions at Dreamworld.

“On behalf of the Board, I would like to thank all those involved in the transaction and wish the staff and management of the Bowling & Entertainment business all the best under their new ownership.” Ardent expects to book a profit before tax in the range of $22 million to $26 million on the sale, with the net proceeds of circa $150 million (after sale related items) to be used to repay existing bank debt.

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3 hours ago, Skeeta said:

ASX RELEASE

[snip]

Entertainment Division will strengthen Ardent’s balance sheet and enhance the Group’s capacity to continue the roll out of Main Event entertainment centers in the United States and fund new attractions at Dreamworld.

 

...'fund new attractions'. As in the ones already announced (cinema + dark ride behind it), or other attractions after those?

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i knew it i said this was coming ages ago during the TRR incident they are just giving up. bye bye dreamworld and expect passes for the other 3 to go up even higher now.

Edited by bladex

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On 20/12/2017 at 4:47 PM, pushbutton said:

That would be incredible. I can see Merlin really giving Village a run for their money. 

100%

Just now, Mark Shaw said:

100%

And would be good for the people at DW and the industry as a whole in Aus. 

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Went bowling today and managed to speak with a lady who had been with AMF for 25 years. She said that the name "AMF" was leased from AMF america essentially since the get go and anytime the company changed hands, so did the lease. So the new guys didn't want that lease, said screw it, and renamed EVERYTHING that was even remotely close to the AMF name and logo. so apart from the shit fight from the higher ups renaming and re-branding things, its apparently the smoothest change of hands shes experienced.

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Whilst I understand the name change to closer affiliate it with its new owners, TimeZONE, I think it’s a terrible branding choice. 

And whilst it is true that the Aussie operations had to pay a licensing fee to use the AMF name here, it had 30 odd years of good brand recognition behind it. Poor choice imo...

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AMF/Zone made it pretty clear 5 years ago that league bowling was no longer going to be treated like their bread & butter despite it being the only really guaranteed regular income on their books. 

But that’s what happens when your two Target demographics are at polar opposites to each other. Leaguers want house lights and patterned lanes, the rest of the public want blacklights and music pumping. It’s a shitfight of cosmic proportions when you have to deal with it Day in & out. 

Most of the larger league focused centres have gone the way of the dinosaurs anyway... 

Edited by Brad2912

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Despite the brand recognition of AMF, i think it was a smart move to change it. The AMF brand is a throwback to retro times. I bowled at AMF as a kid, and despite the addition of blacklights, disco lights and projection screens, nothing has really changed - its still 'just a bowling alley'.

They've tried revamping their food - housed Domino's for a while, and then went back to their own in house food - just done better than the traditional hot dog and chips fare (I don't mind their current menu to be honest, but at theme park prices its a bit stupid and i'd rather a pizza)... they've added laser skirmish and panic rooms and all sorts of things, i'd suggest to try and compete with the business model of places like Strike bowling...

By changing the brand they've given a new look to things, and it suggests it isn't the same old lanes you bowled on in the 80s. (They probably are, but their offering is much more than it used to be). The sister brand of timezone will allow them to cross products in between timezone and the bowling alley meaning more chance of a variety of arcade machines which might make things fresher - instead of the same old tired arcades - plus the ticket redemption program will benefit also.

All up i think the re-brand will do them good, and allow them to leave the tired reputation of an 80s icon where it belongs.

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