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SeaWorld Entertainment Corporate News (Old Leadership Thread)

  • Thread starter Thread starter Brian G.
  • Start date Start date Jan 4, 2017
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shiekra38

shiekra38

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  • Oct 7, 2017
  • #81
P@n!K_Sw1tC# said:
Get the Busch family back in control and fire the hell out of Brian Morrow.
Click to expand...
I mean, Cobras Curse and Mako are great additions I think..Why do you want him to be fired?
 
WAJAS

WAJAS

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  • Oct 7, 2017
  • #82
shiekra38 said:
I mean, Cobras Curse and Mako are great additions I think..Why do you want him to be fired?
Click to expand...
I'd say he's made some good attractions taking into account the limitations he has budget wise. Antarctica is his only true failure, and most of it is amazing.
 
anihilnation

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  • Oct 7, 2017
  • #83
WAJAS98 said:
I'd say he's made some good attractions taking into account the limitations he has budget wise. Antarctica is his only true failure, and most of it is amazing.
Click to expand...
Probably a major reason for that is that it lacked a proper budget.
Cobra's Curse is great indeed, and Pantopia has grown on me as well.
 
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shiekra38

shiekra38

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  • Oct 7, 2017
  • #84
WAJAS98 said:
I'd say he's made some good attractions taking into account the limitations he has budget wise. Antarctica is his only true failure, and most of it is amazing.
Click to expand...
I'm sure it was an order of "Do a Harry Potter type land" from execs....And then they handed him $3 and a Micheal's 50 percent off coupon
 
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Parkscope Joe

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  • Feb 27, 2018
  • #85
Aaaaannnnddddd....

http://www.bizjournals.com/orlando/news/2018/02/27/breaking-seaworld-ceo-joel-manby-steps-down.html
 
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SeaWorldRocks

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  • Feb 27, 2018
  • #86
Joe said:
Aaaaannnnddddd....

http://www.bizjournals.com/orlando/news/2018/02/27/breaking-seaworld-ceo-joel-manby-steps-down.html
Click to expand...
Such a happy day. I could not be happier. I have been waiting for this day for about two years now
 
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Viator

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  • Feb 27, 2018
  • #87
I was extremely hopeful of what he could of done, following his previous work at Herschland, but that Manby and SWPR has taken a lot of great missteps. I would like for them to get back up from the issues, but that I just see them going further and further towards the path of bankruptcy.
 
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UNIrd

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The company's revenues are down 6 percent to $1.26 billion, compared to $1.34 billion for the same time in 2016. In addition, attendance at the parks is down 5.5 percent to 20.8 million from 22 million during the 2016 fiscal year.
Click to expand...

What parks are included here?
 
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MakoMania

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  • #89
Why does everyone keep talking about bankruptcy? The company is nowhere near it.

An interesting move, I thought they would've give him another year.
 
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UniversalRBLX

UniversalRBLX

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  • Feb 27, 2018
  • #90
UNIrd said:
What parks are included here?
Click to expand...

I believe all Sea World, Busch, their water parks and Sesame
 
Mad Dog

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  • Feb 27, 2018
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Years of bad management have caught up to them. Even a management change won't help much now since what they really need is an ownership change. They no longer have the financial means to turn the company around. All they can really do is tread water and hope someone purchases them.
 
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Disneyhead

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  • Feb 27, 2018
  • #92
Matt Ouimet left Cedar Fair last month. I wonder what he is doing now?
 
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Mad Dog

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  • Feb 27, 2018
  • #93
Disneyhead said:
Matt Ouimet left Cedar Fair last month. I wonder what he is doing now?
Click to expand...
Matt Ouimet is good, but he doesn't walk on water.I don't think he could make a difference since the financials are too weak. ..Now, if some company with good financials, purchases all or part of SeaWorld, putting Matt Ouimet at the helm would be a wise move.
 
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MagicMagicMagic

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  • Feb 27, 2018
  • #94
IAAPA is looking for a new President and CEO maybe Joel will end up there...

President and CEO job at International Association of Amusement Parks in Orlando, FL, powered by JobScore

As for who takes over at Sea World, Matt Ouimet would certainly be an interesting candidate.

I'm definitely very interested to see what happens with the parks over the next few years.
 
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Z

zg44

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  • Feb 27, 2018
  • #95
At most, I think SeaWorld can only be stabilized under its current financial situation.

The declines in attendance have affected all of their parks except SeaWorld San Antonio. That's a real problem given that their debt load is too high for them to really be able to compete in the Florida and California markets under their own finances. They've done a good job at investing in the parks with the budgets that they have..., but you'll have a new Universal park in Orlando soon, and you have massive Disney upgrades coming across the board. California is as competitive as ever between DL, USH, Six Flags, Knott's...

A regional group of parks that earns $60 per customer is where SeaWorld is, but that's not really going to work if they have to invest heavily in the parks at the same time.

They really need to consider a sale to a cash-rich corporate owner, or a restructuring like Six Flags went through around 2008 when they cut their debt load significantly from $2.8 billion to around $1 billion, which has allowed Six Flags to reinvest in their business and thrive over the past decade.

If SeaWorld was able to cut their debt load from $1.6 billion down to $600 million, they'd be able to reinvest over the long-term, especially as interest rates rise in the US. It's either that or a sale to a cash-rich corporate owner.
 
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tankart150

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  • Feb 27, 2018
  • #96
They need to fix JTA! :O
 
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Parkscope Joe

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  • Feb 27, 2018
  • #97
MakoMania said:
Why does everyone keep talking about bankruptcy? The company is nowhere near it.

An interesting move, I thought they would've give him another year.
Click to expand...

SeaWorld was saddled with debt from the purchase from InBev. As such it is highly leveraged. If it’s debt to earnings reaches a point they would default on their debt and go bankrupt.

To suggest the company is nowhere near it is ignoring the facts.
 
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OhHaiInternet95

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  • Feb 27, 2018
  • #98
I really, really hope Hulk isn’t the only B&M in FL come a few years. That’s kind of an extreme scenario, of course, but including the BGs, I’m not sure who would want to buy any of these parks (aside from SWSA) at this point.
 
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MakoMania

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  • Feb 27, 2018
  • #99
Joe said:
SeaWorld was saddled with debt from the purchase from InBev. As such it is highly leveraged. If it’s debt to earnings reaches a point they would default on their debt and go bankrupt.

To suggest the company is nowhere near it is ignoring the facts.
Click to expand...
If you look at it from a non managerial and purely numerical standpoint, you are correct that a bankrupt SeaWorld (whilst not likely) is a possibility worth considering.

However, in reality, there are so many things that management can do to avoid this scenario. Whether that be debt restructuring, more agressive operational cost savings etc, the list goes on. SeaWorld will not go bankrupt.

The only way SeaWorld will go bankrupt is if management just sit there and take no preventative action.
 
Viator

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  • Feb 27, 2018
  • #100
MakoMania said:
The only way SeaWorld will go bankrupt is if management just sit there and take no preventative action.
Click to expand...

That's...not necessarily true.

Seaworld may take actions, sure, but that doesn't mean that there can't be negative effects done that may accelerate bankruptcy to occur. It's just more of a game of checks and balances as I would wager.
 
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