How Coast Entertainment’s New Attractions Sparked Record Growth in 1H26

Strong Financial Momentum

Coast Entertainment Holdings Limited has delivered an impressive first half for FY26, posting a 30.2% increase in operating revenue to $62.2 million. This growth is underpinned by a 46.6% rise in ticket sales value and a 44.4% jump in total visitation, surpassing levels last seen in 2016. The company’s EBITDA excluding specific items soared by 169% to $11.2 million, already exceeding the full-year EBITDA result for FY25.

Attractions Driving Visitor Growth

The surge in visitation and revenue is largely attributed to the successful launch of new attractions such as King Claw, the fastest Gyro Swing ride in the Southern Hemisphere, and Rivertown, which opened in December 2024. These additions have enhanced Dreamworld’s appeal, attracting a broad audience from families to thrill-seekers. The company also strengthened its wildlife precinct with the WILD with Australian Geographic collaboration, deepening guest engagement through immersive environmental experiences.

Strategic Partnerships and Brand Exposure

Coast Entertainment’s profile has been further elevated through strategic partnerships, including becoming the Official Theme Park Partner of the Australian Olympic Team. This alliance will see Dreamworld supporting Australian athletes at upcoming Winter and Youth Olympic Games. Additionally, hosting the Big Brother reality show has provided significant national exposure, boosting brand visibility and driving incremental revenue through catering and merchandise sales.

Robust Balance Sheet and Capital Management

The Group maintains a solid, debt-free balance sheet with $37.6 million in cash and an increased undrawn bank loan facility of $20 million, enhancing liquidity and funding flexibility. Despite capital expenditure of $10.3 million, mainly related to new attractions, the company generated positive net cash flows. The Board is actively assessing capital management options to optimise shareholder value amid improving operating conditions.

Looking Ahead

While international visitation is recovering, it remains below pre-pandemic levels, presenting a medium-term opportunity. The Group is also awaiting a decision on a significant land development application, which could unlock further asset value. The recent closure of the MotoCoaster ride introduces some uncertainty, with strategic options for its replacement under review. Overall, Coast Entertainment’s strong first half performance and strategic initiatives position it well for continued growth.