Dreamworld tragedy: Village Roadshow witnesses slump in theme park attendance following tragedy

Village Roadshow has witnessed a significant decline in its attendance by Queenslanders in the wake of the Dreamworld tragedy. Four people were killed in the horrifying tragedy. The decline has been of more than 12 percent as compared to previous years.

Queenslanders constitute as many as 60 percent of the overall attendance. Village Roadshow has said the slump in the attendance has been through January 2017.

In a statement to the ASX, the company said the decline in attendance has affected other aspects of the business as well. "Notwithstanding a minimal impact on ticket sales revenue, the decline in attendance has resulted in deterioration in food and beverage, retail and other in-park revenue," the company said. It added it will "take time for the community to fully recover."

In November, the company had said the theme parks had started on a high note. However, weak attendance through the festive season has impacted the overall business. “International and interstate visitation remains in line with the prior year. However, attendance by the local Queensland market which previously represented approximately 60 per cent of attendances, has declined by more than 12 per cent on the prior year since the Dreamworld incident,” the company said. “The decline in local attendance at both the Gold Coast and Sydney parks has continued into January 2017.”

The company’s half-year results will be released on Feb 23. Meanwhile, Village’s shares plummeted by 5.4 percent to $4.21 at 10:41AM.

The operator of Dreamworld, Ardent Leisure, reported a 63 percent downslide of its revenue at its theme parks on the Gold Coast in January. The theme parks were reopened to the public on Dec 10 last year following the Dreamworld tragedy. In October, four people – including two men and two women – were killed on the Thunder River rapids ride following a fault that caused two rafts to collide.