Annual profits soared more than 300 percent last year at Orlando-based SeaWorld Entertainment Inc., even as the company weighs a possible public stock offering this spring.
The owner of SeaWorld and Busch Gardens theme parks earned $77.4 million in 2012, according to updated regulatory filings, more than triple the $19.1 million it made in 2011.
Total revenue rose 7 percent to more than $1.4 billion at SeaWorld, which owns 10 amusement parks in the U.S., including five in Florida. Ticket sales climbed 7 percent for the year to $884 million. SeaWorld said the primary driver was higher ticket prices, particularly at SeaWorld San Diego, where the company opened a variation of its hit Manta attraction, and at SeaWorld San Antonio, where it opened an Aquatica water-park area.
But the company said attendance also grew during the year — to more than 24 million visitors chain-wide. It singled out the San Diego and San Antonio marine parks, as well as SeaWorld Orlando, which opened TurtleTrek in 2012, and Busch Gardens Williamsburg in Virginia, which opened a roller coaster dubbed Verbolten.
77 million seems really low with 1.4 billion in revenue. My math says that is only 5.5% profit on the 1.4 billion. I'm beginning to see why there is talk of an IPO. It will take them forever to pay off the 4 billion they paid for the parks at this rate.
I've heard Magic Mountain and Six Flags Great America can make 50 million a year on their own, which is another reason I would have expected Seaworld Parks to have been higher.
blade1 wrote:I've heard Magic Mountain and Six Flags Great America can make 50 million a year on their own, which is another reason I would have expected Seaworld Parks to have been higher.
I'm no expert and don't know all the facts, but I feel there's something to be said to the competition in the Orlando area vs. Magic Mountain and Great America being the only major park in their area. I mean, SWO is smack dab in between two other major parks. It's hard to compare those parks' profits. Just my thoughts though.
Yes, but all the Seaworld parks have a much higher gate price and most of their parks operate year round. Seaworld likely gets their guests to spend more in the parks too, in food and merchandise. Magic Mountain isn't even open during the week in winter. And the competition brings more visitors to the area. When people visit Chicago, I can't imagine going to Great America to be much of a priority.
Theme Park Review was invited back to SeaWorld on Saturday to experience Viva La Musica, the park's Latin music festival filled with music, food and plenty of unique offerings! Featuring Daddy Yankee as the headliner for the concert series this year, we were able to check out all that SeaWorld Orlando has to offer with this event, and we were thoroughly impressed~
The food was great (we liked it even better than Bands, Brew & BBQ) and the concert was especially fun, despite the fact that Daddy Yankee rapped in Spanish for the majority of the show.
We also had the chance to check in on the latest happenings in the park, including the opening of a new Coca-Cola Freestlye booth. Now I can get my Fanta Lime at SeaWorld, and it is still amazing!
Special thanks again to SeaWorld Orlando for inviting us. We had a great time and I know I'll be looking forward to next year's events!
Viva La Musica runs on weekends at SeaWorld Orlando and Busch Gardens Tampa Bay through May 4th.
There's plenty for the kids to enjoy at the Viva La Musica special event area. The same space is also used for the SeaWorld Christmas Celebration and Bands, Brew & BBQ.
Sesame Street's Rosita was out dancing with guests in the events area.
Themed character costumes!
And of course, there was food!
As if we didn't love SeaWorld Orlando already, they had to go and start serving Dippin' Dots Sorbet!
An overview of the Viva La Musica special event section of the park. Not pictured but very important to the overall festival is the Atlantis Bayside Stadium where the main concerts are hosted.
Bayside Stadium will host Willie Colon, Grupomania and El Gran Combo over the next three weekends.
SeaWorld Orlando gave us some fantastic seats for the concert, also giving us the chance to see Daddy Yankee up close as he walked into the stadium.
Not a bad backdrop for a concert, right?
It should be noted that the concerts at Viva La Musica are extremely popular and the stadium could fill up quickly, so get your seats early!
We were sure to sample the food at the event as well, and nothing underwhelmed us.
Cheers for beers!
Best of pals!
New Coca-Cola Freestyle machines have opened up underneath Manta.
And to close, a look at Antarctica: Empire of the Penguin. It really has begun to look like this could welcome guests very soon!
It looks like signage has begun to go up in the new realm.
We are really looking forward to checking out Antarctica: Empire of the Penguin on May 24th for its grand opening! Thanks again to SeaWorld Orlando for hosting us for Viva La Musica! We look forward to returning soon to experience Antarctica: Empire of the Penguin, opening on May 24th, 2013!
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