SeaWorld Entertainment Corporate News (Old Leadership Thread)

[GAcoaster]

They seem to be spending on all the parks nicely which is going a long way to updating their image and move away from the past.

 

[Jerroddragon]

They seem to be spending on all the parks nicely which is going a long way to updating their image and move away from the past.

It got me to buy two platinum passes, so I hope they keep it up. I wish more parks had as many seasonal shows as they have

 

[GAcoaster]

It got me to buy two platinum passes, so I hope they keep it up. I wish more parks had as many seasonal shows as they have

They really are providing reasons to come back again and again with seasonal events and really good value between discounts and other passholder perks. Those $10 certificates keep us coming back all the time (and spending more money!).

 

[GAcoaster]

A week ahead of the scheduled earnings release, SeaWorld announced preliminary numbers today:

SEAWORLD ENTERTAINMENT, INC. ANNOUNCES PRELIMINARY SECOND QUARTER RESULTS

SeaWorld Entertainment, Inc. (NYSE: SEAS) (the "Company"), a leading theme park and entertainment company, today announced its preliminary second quarter financial results.

finance.yahoo.com

• Attendance was approximately 6.1 million guests, a decline from 6.3 million guests from the quarter ended June 30, 2022 ("Q2 2022"). The decrease in attendance was primarily due to adverse weather across a number of the Company's markets, including during peak visitation periods.
• Total revenues is expected to be approximately $494-$497 million, compared to $504.8 million in Q2 2022. The decline was largely a result of a decrease in attendance, partially offset by an increase in total revenue per capita.
• Net income is expected to be approximately $85-$88 million, compared to $116.6 million in Q2 2022. The decline in net income is primarily due to an increase in interest expense as well as a reduction in total revenues.
• Adjusted EBITDA is expected to be approximately $222-$225 million, compared to $234.4 million in Q2 2022.

So, minimal decline in spite of new coasters opening. Could have been worse, and I think Disney's numbers will be worse just anecdotally.

 

[Jerroddragon]

I'll be interested if they talk about San Diego

when I went in May it wasn't that bad but since June I've seen nothing but crowds from people going. So hope they break it down by the park

 

[Mad Dog]

Lots of ticket discounts bring in bigger crowds but not necessarily more revenue. Plus, there always a longer term danger to the brand if the price structure is cheapened too much.

 

[Jerroddragon]

Lots of ticket discounts bring in bigger crowds but not necessarily more revenue. Plus, there always a longer term danger to the brand if the price structure is cheapened too much.

No clue how it works in Florida but I would not go to Sea World without the APs

I mean, I'm sure I'd go every 5+ years but its the cheap AP's that draw you in, and then you spend money there on merch and food (and they do that BS charge for food now making more money with zero effort)

Most food places have long lines and most places serving drinks also also seem to be selling very well.

I honestly think in a way its the Six Flags of that area with the added benefits of being in a cooler area, next to other tourist spots and more theming

 

[UniversalRBLX]

I have a SeaWorld/Busch AP, and I am a HUGE fan of theme parks. Last year was my first year with an AP and I was very close to not renewing if it weren't for the deep discounts during their Memorial Day sale.

SeaWorld is running their parks at such an atrocious state right now. Lots of unfriendly business practices (5% surcharge, closing attractions early without any signs in advance, etc.) resulting in not the greatest experience.

 

[Mad Dog]

I have a SeaWorld/Busch AP, and I am a HUGE fan of theme parks. Last year was my first year with an AP and I was very close to not renewing if it weren't for the deep discounts during their Memorial Day sale.

SeaWorld is running their parks at such an atrocious state right now. Lots of unfriendly business practices (5% surcharge, closing attractions early without any signs in advance, etc.) resulting in not the greatest experience.

Sea World Parks live entertainment 'used' to be one of their strengths. They've gutted that at most of their parks. Man does not live on thrill coasters alone.

 

[GAcoaster]

I have a SeaWorld/Busch AP, and I am a HUGE fan of theme parks. Last year was my first year with an AP and I was very close to not renewing if it weren't for the deep discounts during their Memorial Day sale.

SeaWorld is running their parks at such an atrocious state right now. Lots of unfriendly business practices (5% surcharge, closing attractions early without any signs in advance, etc.) resulting in not the greatest experience.

I agree, but the passholder perks I find to offset a lot of the issues I have with the way the parks run. They give passholders enough "free" stuff to make a pass a good enough value that I can overlook a lot.

 

[SeventyOne]

I honestly think in a way its the Six Flags of that area with the added benefits of being in a cooler area, next to other tourist spots and more theming

People tend to forget we've grown to a top 20 market in the U.S. even without a single tourist. We can support a cheaper (admission-wise, with APs) coaster park and water park primarily for locals. The influx of international guests is just a bonus.

 

[Jerroddragon]

Sea World Parks live entertainment 'used' to be one of their strengths. They've gutted that at most of their parks. Man does not live on thrill coasters alone.

At least at SD sea world they offer a good amount of shows during events

Right now they have the water stunt show, animal show, two kid (family?) shows, plus the normal 3 shows along with a night time parade, laser show and fireworks

Plus they had concerts every Sunday in June and July

So that’s why we go are these extra shows

 

[Mad Dog]

At least at SD sea world they offer a good amount of shows during events

Right now they have the water stunt show, animal show, two kid (family?) shows, plus the normal 3 shows along with a night time parade, laser show and fireworks

Plus they had concerts every Sunday in June and July

So that’s why we go are these extra shows

Yes, though SD is an outlier since they are not permitted to build the type of thrill coasters the other parks in the chain can. Thus, they're more like the old time Sea World/Busch parks.

 

[UniversalRBLX]

I agree, but the passholder perks I find to offset a lot of the issues I have with the way the parks run. They give passholders enough "free" stuff to make a pass a good enough value that I can overlook a lot.

Yes, definitely a decent value with all those perks, but it still doesn't excuse their ops for me. When it takes 4 minutes to load and dispatch a train on Iron Gwazi (on average, not a one-off), something is wrong. Not too mention, how dirty the place can be sometimes due to poor management/staffing.

People tend to forget we've grown to a top 20 market in the U.S. even without a single tourist. We can support a cheaper (admission-wise, with APs) coaster park and water park primarily for locals. The influx of international guests is just a bonus.

As a local, I've found that the more "relaxing" elements like shows and exhibits are a bigger draw. The shows have pretty much dwindled down to a 10-min dolphin show, an ok Orca show, and a decent sea lion show.

Also, you're kidding yourself if you find SW parks cheaper/better value than WDW/UOR. Once you take into account food & beverage, and parking, the difference between WDW/UOR is very minimal.



With that said, Ignite is still, IMO, Orlando's best firework show. Way better than anything Universal has ever done, or 85% of the recent garbage at WDW lol

 

[SeventyOne]

Also, you're kidding yourself if you find SW parks cheaper/better value than WDW/UOR. Once you take into account food & beverage, and parking, the difference between WDW/UOR is very minimal.

I agree, But the same is true of Fun Spot and Dezerland. The low entry fee gives the illusion of affordability. Perception in the community is "I can't afford Disney but I an afford Sea World."

 

[GA-MBIT]

Man does not live on thrill coasters alone.

See, this is the kicker for me. The coasters are cool and certainly fill a niche, and I'm also curious to see how Howl-O-Scream Orlando does longterm, but I really need some more varied additions and some more prominent entertainment. Frankly, we need some flats and we need some shows. We'll have more than enough coasters in Orlando once EU opens, what will really keep me coming back is atmosphere, some spinners, and some good food.

The issue is, (and with a little bit of inside baseball), from what I've seen the entertainment department at SWO is run pretty haphazardly. Year after year internally overpromising and inflating scope while underbudgeting and not quite working out logistics with performers. They've got a hand in a lot of different venues throughout the park and so they consistently run into issues with their limited resources as the "local" park next to big dogs Uni and WDW. And that's when they're not splurging with their limited budget to buy the license to a summer show that no one's ever heard of, kicking out Elmo and Sesame Street in the process.

 

[tankart150]

SeaWorld and Busch Gardens would really benefit from dark rides, a flying theater, an maybe an indoor coaster. Also, Journey to Atlantis needs to restored to its former glory.

 

[HandsomePete]

from what I've seen the entertainment department at SWO is run pretty haphazardly.

Fixed it for you - I think haphazard is par for the course there.

 

[Jerroddragon]

SeaWorld and Busch Gardens would really benefit from dark rides, a flying theater, an maybe an indoor coaster. Also, Journey to Atlantis needs to restored to its former glory.

A Flying Theater would be a well ride for both coast's and easy to clone. So hopefully they see that as an easy opportunity

 

[GAcoaster]

In theory a flying theater is a great idea-- in reality it's only as good as the film they manage to create for it. Unless you're Disney, that film will always be second rate and make the attraction second rate. Even when AB owned the parks and spent beaucoup bucks on attractions they really couldn't create films for their simulators that were worth a repeat viewing. The current SWP&E doesn't have a prayer of making a decent attraction film...