Village Roadshow to invest $70m in Gold Coast attractions

Village Roadshow to invest $70m in Gold Coast attractions

Village Roadshow's investments include a new meerkat exhibit at Paradise Country as well as a new waterslide complex at Wet'n'wild.

International borders may still be shut but that hasn't stopped Village Roadshow slating plans to invest $70 million in Gold Coast attractions, with support from the state government as part of its Tourism Icons program.

Village Roadshow, which earlier this year was acquired by Melbourne-based BGH Capital and delisted from the ASX, will invest in a new world-class waterslide complex at Wet'n'Wild, a new meerkat exhibit at Paradise Country, and a 'Hooray for Hollywood' event to celebrate the 30th anniversary of Warner Bros Movie World at Coomera.

The new attractions are expected to open by the end of this year.

Village Roadshow Theme Parks CEO Clark Kirby says these investments reaffirm the company's ongoing commitment to the Gold Coast tourism industry.

"We are delighted to announce this massive line-up of new attractions for our parks in the coming months," Kirby says.

"At Village Roadshow Theme Parks, we remain committed to providing world-class attractions and experiences for our guests and this $70 million investment will play a vital role."

The news follows Ardent Leisure's (ASX: ALG) plans to revitalise Dreamworld 7km north of Warner Bros Movie World with plans for a new resort to be connected to the theme park.

Premier Annastacia Palaszczuk says new attractions will support the economic recovery of the tourism industry on the Gold Coast.

"New tourism infrastructure is an important part of our economic recovery plan for the Gold Coast," the Premier says.

"To see one of the tourism industry's largest employers investing in new attractions is a sign of great confidence in the Gold Coast.

"Because Queenslanders have been able to contain the virus, our economy has been able to open up," she says, calling on people in the southern states to head north to escape the winter and enjoy Queensland's attractions.

Deputy Premier and Minister for State Development Steven Miles says the state's plan for economic recovery has already begun, and has been embraced by companies like Village Roadshow.

"This is a $70 million investment that will bring domestic tourists to Queensland by the end of 2021 and when the time comes be ready for international travellers," he says.

"The Palaszczuk Government has proudly backed Village Roadshow through the global pandemic with our $25 million Tourism Icons program and $1 billion industry support package, that investment is paying dividends," adds Minister for Tourism Stirling Hinchliffe.

Minister for Environment and Local Member for Gaven Meaghan Scanlon expects the investment announced today will create 100 new jobs, while local businesses will benefit as well with more tourists coming to the Gold Coast.

Village Roadshow is Australia's largest theme park operator employing more than 4,000 staff.

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