SeaWorld Profit Soars over 300%

[KingEric]

Annual profit soared more than 300 percent last year at Orlando-based SeaWorldEntertainment Inc., even as the company weighs a possible public stock offering later this spring.The owner of SeaWorld and Busch Gardens theme parks said it earned $77.4 million in 2012, according to updated regulatory filings, more than triple the $19.1 million it made in 2011.
Total revenue rose 7 percent to more than $1.4 billion at SeaWorld, which owns 10 amusement parks in the U.S., including five in Florida.

Ticket sales climbed 7 percent for the year to $884 million. SeaWorld said the primary driver was higher ticket prices, particularly at SeaWorld San Diego, where the company opened a variation of its hit Manta attraction, and at SeaWorld San Antonio, where it opened anAquatica water-park area.
But the company said attendance also grew during the year, to more than 24 million visitors chain-wide. It singled out the San Diego and San Antonio marine parks; SeaWorld Orlando, which opened TurtleTrek in 2012; andBusch Gardens Williamsburg in Virginia, which opened a roller coaster dubbed Verbolten.

Sales of food, souvenirs and other items also rose 7 percent, to $540 million, on a combination of higher prices and larger crowds.
Previously known as SeaWorld Parks & Entertainment, the theme-park operator filed at the end of last year for an initial public offering aimed at raising $100 million. Private-equity giant Blackstone Group, which bought SeaWorld in late 2009 for approximately $2.5 billion, would retain a controlling stake in the company once it becomes a publicly held corporation.

http://www.orlandosentinel.com/busin...0,899239.story

Great job SeaWorld! So proud!

[swampymarsh]

It's not a shock. Push a ball under water and it's bound to get pushed back up.

[KingEric]

Blackstone has done an incredible job at turning these parks around, and really streamlining things.

[Coasterjunkie]

That's great news! Unfortunately, I've heard that attendance at BGT is down and they've had some financial cuts. One of which was to the dueling wooden coasters called Gwazi. They've had their maintenance budget cut so bad that they can only run the Lion side.

[KingEric]

That's great news! Unfortunately, I've heard that attendance at BGT is down and they've had some financial cuts. One of which was to the dueling wooden coasters called Gwazi. They've had their maintenance budget cut so bad that they can only run the Lion side.

I think right now Blackstone doesn't know what to do with BGT. It seems like it is turning into the loner park.

[Trumpet]

That is fantastic news. It just goes to show what can happen when you invest in your parks and build new atrtractions. Antartica is going to make theat figure increase. just watch this space, Sea World are the dark horse in the game of theme parks...

[Coasterjunkie]

That's interesting that this would happen to BGT as it was one of the top earners in the chain, second only to SWO. It's not like Blackstone hasn't invested in the park, just look what's been added and is going to be added since the acquisition. They got a new second entrance to Edge of Africa, a new launched roller coaster called Cheetah Hunt along with a Cheetah exhibit, a veterinary care facility, a completely refurbished Gwazi coaster, two new shows with Iceploration and Madagascar, plus the yet to be built drop tower. I guess something has to give with all that's going on at SWO, USO, WDW, and the new LegoLand Florida.

[flynnibus]

so they learned from Disney.. raise prices and profits still go up.

[KingEric]

so they learned from Disney.. raise prices and profits still go up.

LOL that is funny. But at least attendance is up too! lol