Village Roadshow continues to negotiate on Chinese theme parks

Village Roadshow Chairman Robert Kirby says the theme park and cinema operator is making "very good progress" on its plans to open a park in China.

Kirby recently explained that the potential theme park would be an "enormous undertaking".

Kirby added that the project "effectively leverages the extraordinary value of our 40 years and more of world quality theme park expertise and without any heavy investment burden."

Village flagged the project early in 2011 in February but has so far provided little detail about the scale, nature or specific location of the park.

At the same time, the company completed the sale of the Sydney Attractions Group, which includes tourist attractions Sydney Aquarium and Sydney Wildlife World, to the UK-based Merlin Entertainment Group, the world's second largest visitor attraction operator.

Village operates the Movie World and Sea World theme parks and Wet'n'Wild Water World on Queensland's Gold Coast and cinemas across Australia and in Singapore, the US and the UK.

Meanwhile, the company is expected to be making an imminent announcement on a construction date for its Wet'n'Wild Sydney project

The $140 million waterpark is to be built on a 25 hectare site in Prospect, close to Sydney's M4 and M7 motorways.

2nd February 2012 - WET’N'WILD SYDNEY SET FOR GO AHEAD

29th August 2011 - CHINA CURBS THEME PARK PROJECTS

1st April 2011 - VILLAGE ROADSHOW TO DEVELOP CHINA THEME PARKS

20th January 2011 - MERLIN ENTERTAINMENTS GROUP ACQUIRES SYDNEY ATTRACTIONS GROUP FROM VILLAGE ROADSHOW 

17th August 2009 - 70% OF CHINESE THEME PARKS ‘IN THE RED’

2nd June 2008 - SIX FLAGS PLANS MOVE INTO CHINA

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