SeaWorld plans theme park expansion in Middle East

Saturday, 16 May, 2014 0

SeaWorld executives say they have struck "a tentative deal" to build new theme park resorts in the Middle East, which would be the Orlando-based company’s first venture overseas.

SeaWorld reports it has signed a memorandum of understanding with a local partner to "assess the viability of a multi-park development in the Middle East."

"We feel very good about the likelihood of this discussion coming to fruition of us building these parks," said SeaWorld President Jim Atchison.

"I would say our confidence is very high," he added.

He did not divulge the intended locations or the identity of the partner firm, only that it has an "established track record of opening and operating world-class attractions."

Back in 2008, SeaWorld announced a similar plan to build SeaWorld, Discovery Cove and Aquatica attractions in Dubai but that was shelved during the economic crash.

At the same time SeaWorld said its losses edged up 22% to $49.4 million during the first quarter.

Total sales revenue dropped 11% to $212.3 million, although revenue per visitor rose slightly by 2.2% mainly due to higher ticket prices.

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