HONG KONG, CN
Walt Disney Co DIS.N will lose its option to buy a plot of land next to its Hong Kong theme park that was to allow for future expansion after the city's government said on Wednesday it would not extend the option due to current economic conditions.
The announcement comes as the Chinese-ruled hub tries to bolster its flagging economy and badly hit tourism sector, which was impacted heavily by anti-government protests last year and more recently, the coronavirus.
Acknowledging that 2020 is an extraordinarily unusual year, Amusement Today understands that its traditional core categories are not the direction to take for the Golden Ticket Awards in a year of such globally challenging developments. However, there is still much to honor and acknowledge within the amusement industry.
The 2020 Golden Ticket Awards will feature five new Leadership Awards, which acknowledge best practices during the COVID-19 pandemic. Industry Leaders will be acknowledged in these categories: FEC, Supplier, Amusement/Theme Park, Outdoor Entertainment and Association. Also featured will be four Publisher’s Picks: Person of the Year, Supplier of the Year, Renaissance Award and Turnstile Award. Innovation of the Year will be revealed with a surprising twist and AT is delighted to honor its latest Golden Ticket Awards Legend.
On Wednesday, September 23, Amusement Today will release timed announcements in the afternoon between 1 p.m.-3 p.m. (Eastern)/12 noon to 2 p.m. (Central) via AmusementToday.com and Amusement Today‘s social media channels. At the conclusion, the full Golden Ticket Awards issue will be available to read online and download for free AmusementToday.com/digital and at GoldenTicketAwards.com
Starting next month, Cedar Point will require reservations for anyone looking to enjoy its thrill rides and amusements.
The new requirements run every Saturday and Sunday from Oct. 3 through Nov. 1 during Cedar Point’s ‘Tricks and Treats Fall Fest,’ which kicked off earlier this month.
As with the summer, all guests are required to wear masks and submit to having their temperature checked in order to enter the park. At least one person in a group is also required to have the Cedar Point app on their phone for communication purposes.
SeaWorld (SEAS) is likely to be on the path to bankruptcy. The pandemic destroyed the company’s business, as its revenues in Q2 declined by more than 90% and its net loss for the three-month period was $131 million. With a cash-to-debt ratio of 0.18x, the company’s balance sheet is overleveraged, and it’s unlikely that the reopening of parks will help SeaWorld to survive. Despite the fact that it raised liquidity earlier this year at over 8% rate, the company expects to continue to burn $20-25 million monthly until the end of the year, and there’s no guarantee that it’ll be able to return to its per-COVID-19 capacity levels in the foreseeable future. While the stock has slowly recovered from its March lows, its upside is limited. The shares will likely trade in distressed levels in the next few months, and for that reason, SeaWorld is uninvestable.
A new ride is set to take flight at Silverwood in 2021.
For the first time in 10 years, the theme park is adding a new roller coaster: the Stunt Pilot.
The roller coaster will climb over 105 feet in the air and will take riders down a near-vertical dive with hairpin turns, aerobatic maneuvers and three inversions as it speeds through heart-stopping obstacles.
“The inspiration behind this new coaster comes from the beloved air shows that dominated the skies in the park’s early beginnings,” a release from the theme park said. “On June 20, 1988 guests from all around lined up to experience the train ride, pony rides, and the aircraft museum. In the first year of operation, there were about 110,000 visitors!”
We now have video footage of the vehicle testing, as well as a simulated ride POV for Universal’s Jurassic Coaster.
If you are like us, you have been tracking the new Jurassic Coaster construction progress at Universal’s Islands Of Adventure. The Jurassic Park-themed roller coaster at Universal Orlando Resort was meant to open in the summer of 2020 but has been delayed due to the pandemic.
BOWLING GREEN, KY
Summer is still here for another week – and what better way to celebrate the last bit of the season than by going to a theme park?
If your first thought was “literally anything else since COVID has complicated visiting theme parks,” you’re in luck because you can rent an entire park for just you and your family to go on all the unlimited rides that you want (within the rental window).
Beech Bend Amusement Park & Splash Lagoon in Bowling Green, Ky., is putting its theme park up for rent for families of six for up to eight hours, a release shared with Fox News states.
2020 has been hell for any activity that requires groups of people to come together. Movie theaters are still largely closed. Sporting events are either happening without fans or not happening at all, and theme parks spent several months closed; many of them still are. Not only did the closures keep a lot of people away from their favorite rides and attractions, but it also delayed construction on all the new experiences theme parks fans have been looking forward to in the future. This means everything from new restaurants at Epcot to new theme park lands at Disney California Adventure are delayed. But biggest of all, new theme parks like Universal Orlando Resort's Epic Universe are on hold, and the future is really unclear.
Splash Mountain at Walt Disney World has been experiencing some issues today. Magic Kingdom Guests had to evacuate their logs after the attraction unexpectedly broke down.
The video below shows Guests walking inside the attraction — guided by a Disney Cast Member — after they had to evacuate their ride vehicles.
COVID-19 may have canceled HalloWeekends, but fear not, there's still plenty to do at Cedar Point.
HalloWeekends has always been one of the park's biggest draws, bringing in thousands during Cedar Point's final weeks.
The cancellation could hurt the park's attendance as industry insiders report theme parks already suffer diminished crowds due to the pandemic.
The park's parent company, Cedar Fair, however, announced in August that, even with diminished crowds, they've been able to make a profit by adjusting operation schedules.