Dreamworld recovery: $30 million to be spent on new rides
ARDENT Leisure says it will spend $30 million upgrading Dreamworld over the next two years as it looks to bring the crowds back to the Gold Coast holiday icon.
The company has struggled to restore visitor numbers at Dreamworld, with attendance dropping in 2017-18 to 1.658 million visits from 1.663 milllion the year before.
The company posted an eye-watering $88.6 million loss for the past financial year - $26 million higher than the prior corresponding period, which logged a $62.6 million loss.
The company's theme parks division, consisting of Dreamworld, WhiteWater World and SkyPoint, was the major driver of the results, with that division alone recording a loss in earnings of $91.1 million, which was actually an improvement of $7.3 million compared to the EBITDA loss of $98.4 million in the prior year.
The comparisons take into account a change in the company's reporting methods.