Parks giant loses €58.6m

The giant Spanish-based international amusement parks operator, Parques Reunidos, in its half-year report to March 31, 2018, lost €58.6m, a reduced loss by 10.5 per cent on the same period of 2016-17.

Revenue was up four per cent. The group, which operates over 50 amusement parks in 12 countries, said that in its Spanish operations revenues were up 13.5 per cent with a 10.6 per cent increase in visitor numbers. In the rest of Europe revenues grew by 10.4 per cent. The half-year traditionally accounts for only around 20 per cent of the annual revenues. The total for the period was €110.1m.

The group has a €32m investment plan in place that will include a new Nickelodeon Space, opened in May at the Madrid Parque de Atracciones and the expansion of the Warner Beach and new Thomas Town in Kennywood, Pittsburg, US, that will open this year. The first Nickelodeon Adventure indoor location has opened at the Thader mall in Murcia, Spain, and another six similar venues are planned for this year in Spain.

Upcoming notable events include the deal with Barcelona football club for the construction of leisure centres with the club as their theme and the management of the Dubai Safari Park in the UAE where the group already runs the Motiongate and Bollywood parks.