During a conference call to discuss second quarter results, SeaWorld CEO Jim Atchison, announced that the company has signed a letter of intent to enter into an agreement with Village Roadshow Media to bring new SeaWorld branded theme parks to destinations in Pan-Asia, India and Russia. The announcement comes as no surprise as the parks have announced that they were severing ties with corporate sponsors Southwest Airlines to pursue more international business.
In a statement about the letter of intent Jim Atchison said that with the letter, along with a previous agreement with partners in the Middle East, would help to expand the international presence of the SeaWorld brand.
“Turning to our international efforts, we continue to make significant progress in our plans to expand our theme parks outside the U.S. We recently signed a Letter of Intent with Village Roadshow Theme Parks, a division of Village Roadshow Limited, a leading international entertainment and media company, to co-develop theme parks in Pan-Asia, India and Russia. This Letter of Intent, along with our previously announced Memorandum of Understanding with our partner in the Middle East, creates exciting opportunities to extend our brands beyond our borders”
In addition to the deal with Village Roadshow, it was announced that attendance was up 0.3% over the same period in 2013. However, at the same time profit was down from the same period last year. The chain will also be making a huge announcement about future investments within the current parks in the coming day for 2015 and beyond.