How Coast Entertainment’s King Claw Ride Propelled Record Ticket Sales

Strong Momentum in Theme Parks

Coast Entertainment Holdings Limited (ASX, CEH) has unveiled a promising start to FY26, reporting a solid unaudited trading performance for the half year ended 30 December 2025. The Theme Parks & Attractions segment led the charge, with ticket sales soaring 46.6% compared to the prior corresponding period and visitation climbing 44.4%. These gains not only reflect a rebound from recent years but also surpass the Group’s previous peak in 2016, signalling renewed consumer enthusiasm.

Key to this surge has been the successful launch of the King Claw ride in December 2025, touted as the fastest Gyro Swing in the Southern Hemisphere. This new attraction, alongside last year’s Rivertown precinct, has revitalised Dreamworld’s portfolio, appealing to a broad audience from families to thrill seekers. The Group’s strategic marketing campaigns, including ‘End-of-Financial-Year’ and ‘Black Friday’ promotions, have further fuelled ticket sales, particularly annual passes, which now constitute a larger share of sales.

Revenue Growth and Guest Experience

Operating revenue for the period reached $62.2 million, marking a 30.2% increase on the previous year and exceeding the 2016 benchmark. Notably, this growth was achieved despite a higher proportion of annual pass sales, which spread revenue recognition over 12 months. Ancillary revenues from Food & Beverage and Retail also outperformed historical levels, reflecting increased guest spending within the parks.

Despite the surge in daily attendance, guest satisfaction scores remained impressively high, underscoring Coast Entertainment’s commitment to delivering quality experiences even amid larger crowds. This balance between volume and service quality will be critical as the Group seeks to sustain momentum.

International Recovery and Operational Outlook

While international visitation is gradually recovering, it remains below historical norms, suggesting room for further upside as global travel conditions improve. SkyPoint, another key asset, also posted record revenues despite subdued international tourists, highlighting strong domestic demand.

Looking ahead, the Group anticipates a substantial uplift in earnings before interest, tax, depreciation and amortisation (EBITDA), driven by revenue growth and operational leverage. Corporate costs are expected to rise slightly but remain controlled following prior cost-reduction efforts.

Capital Position and Regulatory Developments

On the capital front, Coast Entertainment strengthened its liquidity position with cash balances increasing to $37.6 million and an expanded $20 million undrawn bank loan facility. These moves provide flexibility to fund ongoing capital expenditure and strategic initiatives, including a $14 million outlay during the period covering new attractions and share buybacks.

Regulatory uncertainty remains around the Group’s land development application in Queensland, which has been escalated to the State Minister for assessment. The timing and outcome of this process are unknown, and the Group has yet to commit to any specific land use plans. This development will be closely watched by investors given its potential impact on future growth opportunities.