Ardent Leisure sells US entertainment business for $1.1b

Struggling theme park operator Ardent Leisure will exit the US entertainment sector after striking a deal to sell its Main Event business to American restaurant and entertainment business DaveThe sale of Ardent’s strongly performing overseas division – Main Event doubled revenues in the six months to December 2021 – was not foreshadowed in previous announcements by the group. It will require shareholder approval at an extraordinary general meeting to be held later this year.

Following Wednesday’s surprise announcement, Ardent Leisure chairman Gary Weiss highlighted the success of the business, which included ”generating record revenues over the last twelve months”. Mr Weiss owns a 4.8 per cent stake in Ardent worth over $30 million, and intends to vote in favour of any shareholder resolution.If approved, the deal will transform Ardent, which owns Dreamworld on the Gold Coast and other struggling theme parks, into an Australian-only business.

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