SalemNews.com, Salem, MA

Nation/World

December 28, 2012

SeaWorld files to go public with $100M IPO

NEW YORK — Looks like Shamu may soon be making a splash in the stock market.

The company famous for water shows featuring killer whales, dolphins and other animals at SeaWorld said yesterday that it is planning to go public. SeaWorld Entertainment Inc. has filed for an initial public offering of stock aimed at raising $100 million. That number is likely to change as the company’s bankers gauge interest from investors.

From its origins as a Busch Gardens animal park at Anheuser-Busch’s Tampa Budweiser brewery, the company has grown to span 11 theme parks housing 67,000 animals. Besides the three SeaWorld parks, the company owns two Busch Gardens parks and Sesame Place, an amusement park based on the children’s TV show “Sesame Street.”

The company warns that its business is dependent on customers’ willingness to spend on leisure and entertainment — which may be a tough proposition in a still-weak U.S. economy. Still, SeaWorld’s revenue has risen in the three years that it’s been owned by private equity firm Blackstone Group LP. The company has looked for ways to stay competitive in the current market, branching out this year with a Saturday morning television show, “Sea Rescue,” on the ABC network to attract young viewers.

Blackstone is expected to sell some of its stock in the IPO but keep a majority stake, SeaWorld said in a filing with the Securities and Exchange Commission. SeaWorld plans to use money raised in the IPO to pay down debt and make a payment to the New York-based firm.

Blackstone bought SeaWorld, formerly Busch Entertainment Corp., from beer brewer Anheuser-Busch InBev in 2009 for $2.3 billion. The Belgian company was shedding assets to help pay for its $52 billion takeover of St. Louis-based Anheuser-Busch in 2008.

Anheuser-Busch started Busch Gardens in Tampa in 1959. The beer company bought SeaWorld, whose park opened in San Diego in 1964, in 1989. SeaWorld is now based in the theme park mecca of Orlando, Fla., also home to Walt Disney Co.’s Walt Disney World resort and Universal Studios. More than half of the company’s revenue is generated in Florida.

Text Only | Photo Reprints
Nation/World

Local News
  • 140725_ET_PBI_MBRALLY_7 [Duplicate] [Duplicate] Thousands rally for Arthur T. in Tewksbury

    TEWKSBURY -- Air horns blared. Signs were hoisted. There were plush giraffes, construction paper giraffes, giraffes on T-shirts and hand drawn giraffes peppered the parking lot of the Market Basket at Stadium Plaza, just down the street from the com

    July 25, 2014 3 Photos 7 Stories

  • 140725_ET_PBI_MBRALLY_1.jpg PHOTO SLIDESHOW: MARKET BASKET RALLY Thousands of people converged at the site of the Tewksbury store this morning for another rally by employees and supporters who feel disenfranchised by the ouster of CEO Arthur T. Demoulas by the company board of directors led by his cousin Arthur S. Demoulas.

    July 25, 2014

  • Hamilton church volunteers assaulted in Guatemala

    A local church group returning to Guatemala City airport after eight days of mission work was attacked Tuesday.

    July 25, 2014

  • BREAKING: Market Basket board to consider sale to Arthur T. Demoulas

    BOSTON — Market Basket’s board of directors this afternoon announced it will consider offers to buy the company, including that from ousted CEO Arthur T. Demoulas. His offer will be considered “along with any other offers previously received and to b

    July 25, 2014 7 Stories

  • Drama builds today in Market Basket saga

    July 25, 2014