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Dreamworld CEO talks thrill ride replacements off the back of Ardent Leisure cash injection

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Dreamworld CEO talks thrill ride replacements off the back of Ardent Leisure cash injection

In a recent interview with the Gold Coast Bulletin, Dreamworld CEO John Osborne spoke about his desire for new major thrill rides. It's complete turnaround for a company that has insisted in recent years that thrill rides aren't on the cards – and it's a sign that they're getting to the heart of Dreamworld's biggest issues.

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2 Years wait plus how long it took to build Rivals.

The Smiler crashed at Alton Towers in 2015 and the first plans were submitted for Wicker Man in April 2016.   Wicker Man opened in March 2018.  DW have been kicking the can long enough and should either sell up all go all in. 

 

 

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This article seems to follow the recent journalistic narrative presented on Parkz that Dreamworld can't do anything without it being a bad decision. I know that the current outlook isn't sunshine and rainbows but I personally feel like Dreamworld are stepping in the right direction. The lazy river, amphitheatre and dark ride all felt like band-aids that made use of the parks limited resources and funds but the cancellation opens up for larger and more well-rounded experiences instead of committing to previous announcements due to public obligation. 

Edited by CaptainLazerGuns
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7 minutes ago, CaptainLazerGuns said:

This article seems to follow the recent journalistic narrative presented on Parkz that Dreamworld can't do anything without it being a bad decision.

"There's no question that the road ahead is still rocky for Dreamworld. A few thrill rides are just the tip of the iceberg as far as fixing Dreamworld goes, but it'd certainly be a step in the right direction after several years in limbo".

 

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1 minute ago, Skeeta said:

"There's no question that the road ahead is still rocky for Dreamworld. A few thrill rides are just the tip of the iceberg as far as fixing Dreamworld goes, but it'd certainly be a step in the right direction after several years in limbo".

 

A sentence does not rectify the initial thousand words of obvious scepticism and disappointment shared by Parkz. I'm sure you wouldn't consider the compliment if I berated your clothing, physique and composure but then finished with "but your shoes are nice".

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8 minutes ago, CaptainLazerGuns said:

A sentence does not rectify the initial thousand words of obvious scepticism and disappointment shared by Parkz. I'm sure you wouldn't consider the compliment if I berated your clothing, physique and composure but then finished with "but your shoes are nice".

Well, it all depends on perspective doesn't it?  What good decisions have Dreamworld made, announced and executed upon recently?  I may have missed them.

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37 minutes ago, CaptainLazerGuns said:

The lazy river, amphitheatre and dark ride all felt like band-aids that made use of the parks limited resources and funds but the cancellation opens up for larger and more well-rounded experiences instead of committing to previous announcements due to public obligation. 

At $15-plus million a piece these were never intended as band-aids.

 

23 minutes ago, CaptainLazerGuns said:

A sentence does not rectify the initial thousand words of obvious scepticism and disappointment shared by Parkz.

Investors are sceptical. Industry insiders are sceptical. Would-be guests are sceptical.  There's plenty of justification for scepticism and in this case measured optimism about this latest development, and that's what this article is about.

As for disappointment, I'm probably missing what you're getting at here. At a quick glance, I see commentary to the effect of "this is good" no less than six times throughout the article and nothing resembling disappointment.

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@CaptainLazerGunsDW has stuffed everything they have set out to do in the last 3 years.  In fact DW has spent 30 million dollars with nothing to show for it.

What do we have?

Dreamworld Express isn't going.

Wipeout gone with no replacement.

2 new dirt piles within the park.

A new ride that can't open because nobody will sign it off because it's built shit.

Tiger Island stage 3 which is now left to overgrow in the corner.

Jelly Belly store closed.

Dreamworld Cinema closed. (facade destroyed)

Eureka promised but removed.

Brock's Garage closed.

Log Ride trashed.

Kevil Hill  closed.

Parkway closed.

 

@Richardin the future can you please mention Play School Wheel was completed successfully to balance the article out.

 

 

 

 

Edited by Skeeta
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2 hours ago, CaptainLazerGuns said:

This article seems to follow the recent journalistic narrative presented on Parkz that Dreamworld can't do anything without it being a bad decision. I know that the current outlook isn't sunshine and rainbows but I personally feel like Dreamworld are stepping in the right direction. The lazy river, amphitheatre and dark ride all felt like band-aids that made use of the parks limited resources and funds but the cancellation opens up for larger and more well-rounded experiences instead of committing to previous announcements due to public obligation. 

It is honestly fair to be cynical about what Dreamworld management says. Management has made nothing but poor decisions for many years now. Adding rides that the park doesn't need, having rides down for over 6 months, and running outdated rides until they shit the bed. The list goes on and on. Anything that's actually good? ABC Kids World opening on time maybe? I had to really scrape the bottom of the barrel for that one.

Considering only three months ago they made it clear that adding rides would be a thing of the past, it is easy to doubt what Osborne has said today as little more than PR tip-toeing. This company has been all talk and no action when it comes to having a long term plan for Dreamworld.

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2 hours ago, Skeeta said:

@CaptainLazerGunsDW has stuffed everything they have set out to do in the last 3 years.  In fact DW has spent 30 million dollars with nothing to show for it.

What do we have?

Dreamworld Express isn't going.

Wipeout gone with no replacement.

2 new dirt piles within the park.

A new ride that can't open because nobody will sign it off because it's built shit.

Tiger Island stage 3 which is now left to overgrow in the corner.

Jelly Belly store closed.

Dreamworld Cinema closed. (facade destroyed)

Eureka promised but removed.

Brock's Garage closed.

Log Ride trashed.

Kevil Hill  closed.

Parkway closed.

 

@Richardin the future can you please mention Play School Wheel was completed successfully to balance the article out.

 

 

 

 

The above post is 100% correct. DW have stuffed everything in the last 3 + years and if anyone thinks this news is going to save the park, then you are delusional. 

DW won’t last 2 years for a new ride to maybe save them.

Seriously look at the list of f*** ups above. 

New Coomera Housing estates by 2023.

what could it be called?

Coomera Gardens Estate?

Coomera East Estate?

Coomera Dream Estate?

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Hello, have not posted for a while but enjoying the banter ..not the bullying.

What is occurring at moment ( sky voyager or a pull of other projects such as lazy river) would suggest a working capital problem for ardent .If had cash sky voyager would be open. Should never have got to that point if better management in first instance . Should have budgeted and planned correctly. 

Most businesses fail due to poor liquidity management . In this case they stopped spending due to lack of cash, but in a position where US business is mediocre to cover . 

Issue is can the existing business keep covering dreamworld  ? Ardent is asx listed so eventually decision may be taken out of hands via share price . 

There are worrying signs here . If something does not turn in short term  dreamworld is done.  Board would be assessing land value right now vs more spend . Risk and return . Does it meet capital return targets or hoping on takeover like in the past . Does additional reinvestment make this happen ( ie the tower in 96 and hope someone buys the dream like macquarie leisure trust )

Also going offshore for funding does not suggest they can’t get domestic funding . It’s extremly common . Ask any Aussie large cap. Doesn’t highlight anything.

 

Edited by dbo121
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To remedy defects / issues . It could have  been a regulatory delay which I am dismissing given time passed now . Doubt it’s a commercial one . As Easter holidays would of been next best reasonable option. 

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I'm of the view that this is little more than a good PR stunt for now.

Building a big coaster in 5 years is not a lot of hope for how bad the park could be over the next 3 years.

Honestly, it almost sounds more like preparing the ground to remove ToT or HWSW or some more rides.  "Yeah, we're going to build something new but in order to that we have to remove something".  Nice bit of spin and I do support removing rides but there's little commitment shown to building any more rides.  I mean the suggestion of two in the Bulletin article seems more like a thought bubble than anything actually remotely planned.

What is notable is that the GC Bulletin article is that Sky Voyager merely gets a passing mention at the end.  Obviously no quote provided about SV being open anytime soon or in the context of anything else.

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Why not just explain why on sky voyager . Just tell the real story unless they are hiding something. Evident they screwed up or have no cash to finish . Fess up. I am thinking they are postponing to next financial yr now. New budget period and have no allocated cash for capex left for period  is best case . Worse is no free cashflow in business

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13 minutes ago, dbo121 said:

Why not just explain why on sky voyager . Just tell the real story unless they are hiding something. Evident they screwed up or have no cash to finish . Fess up. I am thinking they are postponing to next financial yr now. New budget period and have no allocated cash for capex left for period  is best case . Worse is no free cashflow in business

You only need to look as far as the changes Scooby's endured or Aussie World's new Gyro Swing ride to see that it's not just Dreamworld going through varying degrees of new & unprecedented regulatory changes from WHSQ. In which case, it's safe to assume Dreamworld's mum on Sky Voyager because being honest & transparent about the hold up could easily be perceived as pressuring the state body and/or the manufacturer, and that'd be PR nightmare for them.

Edited by Slick

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Solid case of "I'll believe it when I see it" but a smart first step would be a major WWW expansion (lazy river plus a 2-4 slide tower). Village have been sitting on their hands with WnW down the road, nothing new in quite some time (and it's not uncommon for half of the slides to be closed outside of school holidays) so there is an opportunity there. A great waterpark can be a solid driver of season pass sales and a good foundation for future growth of the dry park.

 

2 hours ago, Slick said:

being honest & transparent about the hold up could easily be perceived as pressuring the state body and/or the manufacturer, and that'd be PR nightmare for them.

Or it would be misunderstood and the new ride could be perceived as "unsafe" somehow even before it opens. Sadly they are better off keeping their cards close to the chest with the vague "we are working to ensure the best possible guest experience" sort of statements we've already heard.

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3 hours ago, Slick said:

You only need to look as far as the changes Scooby's endured or Aussie World's new Gyro Swing ride to see that it's not just Dreamworld going through varying degrees of new & unprecedented regulatory changes from WHSQ. In which case, it's safe to assume Dreamworld's mum on Sky Voyager because being honest & transparent about the hold up could easily be perceived as pressuring the state body and/or the manufacturer, and that'd be PR nightmare for them.

Dreamworld: WHS isn't approving our rides without looking at them any more, that's why Sky Voyager isn't open. Blame WHS for wanting to inspect our rides, for some strange reason!

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I guess you're all right. Dreamworld has had a slump in later years and therefore moving forward we should expect the worst from them no matter what they say or do. I will join the enthusiast community in constantly reminding the public of their sins of the past and to further bring us closer to Wonderland Sydney 2.0.

I'm not fussed because it'd make a great history video on ReviewTyme. 

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13 minutes ago, CaptainLazerGuns said:

 I will join the enthusiast community in constantly reminding the public of their sins of the past

giphy.gif.88da01e14d79d8611b56ab717cab5462.gif

 

13 minutes ago, CaptainLazerGuns said:

expect the worst from them no matter what they say or do.

Or you could list what DW have done.

Edited by Skeeta

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25 minutes ago, CaptainLazerGuns said:

I guess you're all right. Dreamworld has had a slump in later years and therefore moving forward we should expect the worst from them no matter what they say or do. I will join the enthusiast community in constantly reminding the public of their sins of the past and to further bring us closer to Wonderland Sydney 2.0.

Buddy, it's called critical analysis and reporting - it's a good thing.  When you're not doing that you're basically writing press releases.

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29 minutes ago, joz said:

Are you sad because reality is interfering with the fairy tale bubble you want to live in?

More disappointed than anything. This community perpetuates a negativity bias. It lusts for failure and drama. Threads and articles regarding positive outcomes, announcements, and successes are quickly snuffed by negative bickering, snarky remarks and the dismantling of others opinions that don't match the echo chamber.

Please, prove me wrong.

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6 minutes ago, CaptainLazerGuns said:

More disappointed than anything. This community perpetuates a negativity bias. It lusts for failure and drama. Threads and articles regarding positive outcomes, announcements, and successes are quickly snuffed by negative bickering, snarky remarks and the dismantling of others opinions that don't match the echo chamber.

Please, prove me wrong.

Whilst I cannot prove you wrong, (and wouldn't want to try to do so, as you are merely expressing your opinion and that is precisely what internet discussion boards are for), I just want to let you know that I for one appreciate your input!

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