Rainbow's End to get $3.5 million upgrade

The operator of Auckland's Rainbow's End theme park says it will spend $3.5 million upgrading and weather proofing its facilities for younger children in a bid to boost medium term earnings.
New Zealand Experience says it will upgrade Castle Land, an attractions area aimed at children up to eight years old, redeveloping it as an indoor and covered outdoor recreational facility to cater for both the general public and private events.
The company is hoping revenue growth, generated from the upgraded facility, as well as its all-weather availability will boost profitability down the track. The project is expected to see a phase one launch by December, and be completed by Easter 2013.
New Zealand Experience Director Dave Lock "this development is expected to increase profit in the medium term and become an integral part of our core business in the years to come.
"In the near term profit will initially be impacted by some disruption during construction and as a result of increased continuing finance charges."