Coast Entertainment has unlocked a major milestone with Queensland Government approval for its Coomera landholding development, while reporting robust FY26 trading with double-digit growth in ticket sales and revenue.
- Queensland Government approves 55-hectare Coomera development
- Theme Parks division posts double-digit growth in ticket sales and visitation
- Strong FY26 EBITDA growth expected on consolidated and divisional basis
- Independent valuation and capital review initiated to maximise shareholder value
- Four-precinct mixed-use masterplan planned adjacent to Dreamworld
Queensland Approval Unlocks Coomera Development Potential
Coast Entertainment Holdings Limited (ASX:CEH) has cleared a significant hurdle with the Queensland Government granting approval for its 55-hectare Coomera landholding development. This long-awaited green light establishes a four-precinct mixed-use masterplan that integrates the existing Dreamworld and WhiteWater World theme parks with new tourism, residential, and commercial uses.
The approval, which was called-in by the Queensland Deputy Premier and Minister for State Development, includes conditions on vegetation clearing, bushfire and flood management, traffic, noise, and koala habitat protection. These align with prior discussions with government agencies, providing the company with much-needed certainty over permissible land uses that have eluded it for decades.
Four Precincts to Define Future Growth
The approved masterplan carves the site into four distinct precincts: the Major Tourism Core housing Dreamworld and WhiteWater World; a Nature-Based Tourism Precinct for eco-tourism; a Gateway Precinct offering mixed-use developments such as hotels, offices, and entertainment venues; and a Town Centre Transition Precinct supporting residential, educational, and health services. This layered approach aims to transform the site into a landmark destination that complements the booming Gold Coast region.
Coast Entertainment’s CEO Greg Yong emphasised the scale and strategic location of the development, highlighting its proximity to the Pacific Motorway, Coomera Town Centre, and the emerging health precinct. He pointed to the chronic shortage of quality accommodation and the upcoming 2032 Brisbane Olympic Games as strong tailwinds for the project’s potential.
Robust FY26 Trading Validates Business Momentum
Alongside the development news, Coast Entertainment reported a strong FY26 trading performance. Ticket sales for Dreamworld jumped 33.0% year-on-year (24.0% like-for-like), while total visitation across the Theme Parks & Attractions division rose 29.3% (26.5% like-for-like). This growth came despite economic headwinds and softer inbound tourism during the Easter period.
Revenue climbed 20.8% (19.0% like-for-like), surpassing FY16 levels even though international and interstate visitors remain below pre-pandemic figures. Local demand, particularly annual pass sales, drove this surge, lifting the Group’s deferred income balance by 58.7% to $20.2 million at 30 June 2026, which sets a solid revenue foundation for FY27.
EBITDA growth is expected to be strong both for the Theme Parks division and consolidated Group, underpinned by revenue gains, operating leverage, and disciplined cost control. This performance builds on earlier momentum from new attractions such as King Claw and the Rivertown precinct, which have resonated well with guests despite rising daily attendance pressures.
Capital and Funding Review to Unlock Shareholder Value
Recognising the value uplift from the planning approval and operational strength, Coast Entertainment’s Board has commissioned an independent valuation of the Dreamworld business and surrounding land. It has also appointed Barrenjoey Advisory to lead a comprehensive review of capital and funding options aimed at maximising shareholder returns.
Chairman Dr Gary Weiss AM reflected on the company’s journey from a fragmented and challenged portfolio, through recovery from the 2016 accident and COVID-19 disruptions, to the current position of sustainable profitability and strategic clarity. The Board’s decision to stay the course and invest in the business has now culminated in this pivotal approval and growth phase.
The company has yet to commit to specific development plans or funding arrangements, signalling that all options remain on the table as it seeks to leverage its asset base fully. The coming months will be critical for investors to track how these opportunities translate into tangible value creation.
Bottom Line?
With Coomera development approval in hand and FY26 momentum building, Coast Entertainment stands at a strategic inflection point; the next steps in capital strategy and development execution will be key to realising its full potential.
Questions in the middle?
- How will the independent valuation shape Coast Entertainment’s strategic decisions?
- What capital and funding structures will best unlock value from the Coomera landholding?
- How might the upcoming Brisbane 2032 Olympics influence the timing and scale of development?