SeaWorld Entertainment has released their third-quarter financial report and says they will be cutting costs in an effort to help boost revenue.
Net income for the company was $65.7 million, down from $98.0 million at the same time last year.
Attendance at the theme parks stayed flat; the Florida theme parks had a 1.3 percent increase due to new attractions that opened in those parks. Joel Manby, Chief Executive Officer, said, “The introduction of several new exciting rides and attractions – including Mako and Cobra’s Curse – is driving attendance and season pass sales.”
The company said the “decline in attendance from Latin America, an overall softness in the Orlando market and the impact of Hurricane Hermine” was offset by the spike in attendance due to the new attractions and estimate that Florida attendance may have increased 4 percent if the other factors hadn’t been in play.
SeaWorld says “it has implemented a cost optimization program that will result in a net savings of $40 million through 2018.”
News source: Orlando Sentinel
Photo credit: SeaWorld Orlando
