SeaWorld Parks will not open 2020 attractions until 2021

This morning, SeaWorld held their quarterly investor release, which of course had some rough news for the parks due to COVID and other things. Instead of just posting all of the information, here are some highlights as it relates directly to theme park fans such as us. 

If you'd like to read the entire release, you can check it out here. - Gregg 

Postponed to 2021 the opening of rides that were still under construction and originally scheduled to open in 2020

So what does this mean? Quite simply, any rides SeaWorld parks were set to debut in 2020 will not be opening until 2021. This includes Iron Gwazi, Emperor, Pantheon and Ice Breaker. 

Texas Stingray at SeaWorld San Antonio already opened for 2020. 

While this is a pretty big blow to theme park fans, it's not entirely unexpected. In 2020 the parks are trying to do the best they can just to stay open, which includes reducing capacity. Opening a new ride to bring in guests really doesn't make a whole lot of business sense. 

Worked with its vendors and other business partners to manage, defer, and/or abate certain costs and payables during the disruptions caused by the COVID-19 pandemic

It's been widely reported for months that SeaWorld has "defaulted" on payments to RMC for Iron Gwazi, this is a part of that. It doesn't mean that it won't open, it just means they've been working with them to defer costs that aren't directly related to the parks operating in 2020. 

You can find the rest of the COVID-19 response steps the parks have made below. 

COVID-19 Response
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Since the global COVID-19 pandemic has begun, the Company has taken proactive measures for the safety of its guests, employees and animals, to appropriately manage costs and expenditures, and to provide liquidity in response to the temporary park closures related to COVID-19. Some of these measures included, but are not limited to the following: 

• increased its revolving credit commitments on March 10th and subsequently borrowed the remaining available amount;
• issued $227.5 million of first-priority senior secured notes to obtain additional liquidity;
• amended its existing senior secured credit facilities to amend its financial covenants;
• initially furloughed approximately 95% of its employees upon closing all of its parks;
• obtained payroll tax credits and deferred social security payroll taxes under the CARES act;
• reduced executive officers' base salary by 20% until the theme parks substantially resume normal operations;
• eliminated and/or deferred all non-essential operating expenses at all of its parks and corporate headquarters while the parks were closed;
• eliminated substantially all advertising and marketing spend while the parks were closed;
• substantially reduced or deferred all capital expenditures starting in March 2020 (other than minimal essential capital expenditures);
• postponed to 2021 the opening of rides that were still under construction and originally scheduled to open in 2020;
• worked with its vendors and other business partners to manage, defer, and/or abate certain costs and payables during the disruptions caused by the COVID-19 pandemic; and
• implemented a rigorous and strict formal review and approval process for payments and cash disbursements.

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Related Videos

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Related Updates

• SeaWorld San Diego Update - June 29, 2020
• Iron Gwazi Update from Busch Gardens Tampa - March 3, 2020
• ​Emperor Construction Update from SeaWorld San Diego - February 4, 2020
• Iron Gwazi Hard Hat Tour at Busch Gardens Tampa - September 12, 2019
• Busch Gardens Tampa Sunset Update - July 31, 2019

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