SeaWorld Entertainment revenue down 15 pct


Theme park and entertainment company SeaWorld Entertainment, Inc. saw a decrease of 15 per cent year-on-year for its revenue in the first quarter, amounting to US$186.4 million (MOP1.50 billion).
The company released its results on Tuesday, revealing that it had generated a net loss of US$61.1 million during the first three months of this year.
The adjusted EBITDA of SeaWorld was a loss of US$30.4 million for the January-March period in 2017, compared to the adjusted EBITDA loss of US$5.9 million for the same period a year ago.
The company also revealed that it had entered an agreement with Zhonghong Holding Co., Ltd. in March this year.
Zhonghong Holding is an affiliate of ZHG Group which provides design, support and advisory services for various potential projects, granting exclusive rights in Mainland China, Taiwan, Hong Kong and Macau.
Under the agreement, SeaWorld will work with Zhonghong Holding ‘to create and produce concept designs and development analysis for theme parks, water parks and interactive parks in the aforementioned regions.’