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SeaWorld Entertainment Inc. saw fewer visitors and falling receipts last year, the theme park group said Tuesday.
SeaWorld expects its 2016 revenue will drop to $1.34 billion from $1.37 billion the company’s parks made in 2015, estimates released Tuesday by the theme park group show. Attendance across its 12 parks fell from almost 22.5 million in 2015 to 22 million in 2016.
The Orlando-based theme park group is “exploring a possible debt refinancing transaction in order to improve our capital structure by extending maturities and improving certain other terms of our debt,” SeaWorld CEO and President Joel Manby said in a statement.
“In the fourth quarter, we continued to execute against our five point strategic plan, and we are encouraged to see the continued positive results of our efforts,” Manby said.
But SeaWorld expects to “exceed the high end” of its fourth-quarter guidance for earnings, Manby said. In November, SeaWorld projected that earnings would fall between $310 million and $330 million before interest, taxes, depreciation and amortization.
The announcement caps a rough year for SeaWorld as it tries to revamp its image after years of fallout since the release of the 2013 documentary film “Blackfish.”
Click here for the full report at ExpressNews.com or read Wednesday’s edition of the Express-News.
jfechter@express-news.net
Twitter: @JFreports
Click here for the full report at ExpressNews.com or read Wednesday’s edition of the Express-News.
jfechter@express-news.net
Twitter: @JFreports
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