Dreamworld operator Ardent Leisure says it is “not currently” in discussions to sell Main Event

Dreamworld’s parent company Ardent Leisure has moved to quash speculation it is looking to sell some of its biggest assets.

Ardent Leisure Group operates the Main Event Entertainment centres in the United States. Photo: Supplied

LISTED Dreamworld operator Ardent Leisure has moved to quash speculation it is looking to sell its lucrative Main Event business to US private equity firms.

In an ASX statement yesterday, the group responded to an article in The Australian saying it had complied with continuous disclosure requirements.

“Ardent confirms that it is not currently in discussions in relation to a sale of Main Event Entertainment,” it said.

Ardent’s business consists of the Main Event Entertainment division in the US and its Australian theme park operations.

The company sold off its Australian-owned bowling alleys, gyms and marinas, a large contributor to a groupwide decline in revenue of $64.2 million last financial year.

Ardent Leisure chairman Gary Weiss. Pic: Adam Head

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The Texas-based Main Event chain has 42 family entertainment centres in 17 states featuring billiards, bowling, arcade games, laser tag, rock climbing, mini golf and karaoke.

It has been a key revenue driver for Ardent in recent years, filling the earnings void left after the fatal Thunder River Rapids ride tragedy in 2016.

Ardent Leisure reported a net loss of $60.9 million for the 2019 financial year, an improvement from the $90.7 million loss it posted this time last year.

Main Event revenue increased US$21.8 million, up 7.9 per cent versus prior year.

Shares in Ardent were trading 0.49 per cent up at $1.025 by market close.