Park Journey
Menu

SeaWorld Parks will not open 2020 attractions until 2021

7/29/2020

0 Comments

 
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
​
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.

Related Videos

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


If you enjoyed this update please share with your friends and make sure you "like" us on Facebook and "follow" us on Twitter, Instagram and YouTube. 
​
If you have any comments, please share them below
0 Comments



Leave a Reply.


    Categories

    All
    2014 Attractions
    2015 Attractions
    2016 Attractions
    2017 Attractions
    2018 Attractions
    2019 Attractions
    2020 Attractions
    2021 Attractions
    Aquatica
    Bier Fest
    Busch Gardens
    Busch Gardens Tampa
    Busch Gardens Williamsburg
    Christmas Celebration
    Christmas Town
    Cobra's Curse
    Discovery Cove
    Discovery Point
    Dolphin Days
    Dolphin Nursery
    Electric Eel
    Emperor
    Evil Encore
    Explorers Reef
    Food And Wine Festival
    Halloween Spooktacular
    Howl O Scream
    Ice Breaker
    Infinity Falls
    Iron Gwazi
    Kraken VR
    Mako
    Ocean Explorer
    Penguin Encounter
    Penguin Up Close Tour
    SeaWorld
    SeaWorld Orlando
    SeaWorld San Antonio
    SeaWorld San Diego
    SeaWorld Texas
    Seven Seas Food Festival
    Texas Stingray
    Tigris
    Wave Breaker

    Archives

    March 2021
    February 2021
    August 2020
    July 2020
    June 2020
    April 2020
    March 2020
    February 2020
    December 2019
    November 2019
    September 2019
    August 2019
    July 2019
    March 2019
    January 2019
    November 2018
    October 2018
    September 2018
    September 2017
    July 2017
    June 2017
    May 2017
    April 2017
    March 2017
    January 2017
    December 2016
    October 2016
    September 2016
    August 2016
    June 2016
    May 2016
    April 2016
    March 2016
    February 2016
    January 2016
    December 2015
    November 2015
    October 2015
    September 2015
    August 2015
    March 2015
    July 2014

    RSS Feed

  • Home
  • Six Flags
  • Cedar Fair
  • Universal Studios
  • Disney Parks
  • SeaWorld Parks
  • Other Parks
  • Beyond The Parks
  • The Other Side of the Tracks
  • Industry News
  • Cruise Journey
  • Park Journey Shop
  • Theme Park Art
  • Past Updates
    • 2019 Updates
    • 2018 Updates
    • 2017 Updates
    • 2016 Updates
    • 2015 Updates
    • 2013 and 2014 Updates
  • Contact Us
  • Home
  • Six Flags
  • Cedar Fair
  • Universal Studios
  • Disney Parks
  • SeaWorld Parks
  • Other Parks
  • Beyond The Parks
  • The Other Side of the Tracks
  • Industry News
  • Cruise Journey
  • Park Journey Shop
  • Theme Park Art
  • Past Updates
    • 2019 Updates
    • 2018 Updates
    • 2017 Updates
    • 2016 Updates
    • 2015 Updates
    • 2013 and 2014 Updates
  • Contact Us