NEWS
Orlando’s Harry Potter experience now open
US
THE Wizarding World of Harry Potter at Universal Orlando Resort, Florida, opened its doors on June 18, attracting thousands of eager guests who began to queue up from 5.30am. More than five years in the making, the
park has become one of the most highly anticipated entertainment experiences of 2010. The spectacularly themed area, inspired by JK Rowling’s stories and characters, features multiple attractions, shops and a restaurant. Visitors to The Wizarding World of Harry
Potter are swept into the adventures of Harry Potter, touring faithful representations of Hogwarts Castle, Hogsmeade and the Three Broomsticks. Other themed adventures will allow them to fly with Harry, ride on a dragon, sample Butterbeer, eat exploding sweets - and experience all the magic and adventure of the Harry Potter books and films. Stars of the movie franchise, including Daniel
Radcliffe, Rupert Grint and Matthew Lewis, attended the grand opening. “I remember when I was shooting the films when I was younger and I absolutely wished this
Cedar Fair COO officer resigns
THE second in command at Cedar Fair Entertainment Company has resigned, marking the latest in a series of twists for the amusement park operator this year. COO Jacob Falfas stood down from his
position on June 12. His resignation came just three days after Cedar Fair appointed two new members to its board of directors at the request of Q Investments, the company’s largest shareholder. After a failed US$2.4 bn takeover by Apollo
Global Management, the beleaguered Cedar Fair recently announced plans to refinance its own debt and plans to issue $500m in so-called “junk” bonds, which would be due in 2020. The group also plans to take out a $1.05
billion term loan and a $300 million line of credit as part of a deal being arranged by JP Morgan Chase.
World’s longest water coaster opens
THE epic Wildebeest water coaster has opened at Holiday World and Splashin’ Safari in Santa Claus, Indiana, US. Stretching a massive 1,710ft, Wildebeest
has been crowned as the largest water coaster in the world. Manufactured by Canadian ride developer ProSlide Technology, the four-person raft attraction propels riders rapidly uphill, before dropping 38ft at a 45-degree angle. The US$5.5m ride uses a combination of
water lubrication and ProSlide’s proprietary HydroMagnetic technology to take riders up and down several hills, through three tunnels and around a helix.
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Stars of the Hollywood franchise attended the opening ceremony
world could be real and that I could be a part of it,” said Radcliffe, who portrays Harry Potter in the film series. “It’s amazing that people will finally get to do that and realise everything they’ve seen on screen.” Speaking at the opening ceremony, Brad
Globe, president of Warner Bros. Consumer Products, added: “Today’s grand opening
is the culmination of our firm commitment to create the most authentic Harry Potter experience possible. “We’ve enlisted the best possible partner
in Universal Orlando Resort and we are proud to say that the result has fully captured the magical worlds detailed in both the books and the films.”
CVC buys into Merlin US private equity firm CVC has taken a 28 per
cent stake in Merlin Entertainments with rival Blackstone reducing its stake in the business. The deal values Merlin at £2.25bn
(US$3.34bn), with CVC Capital Partners, Blackstone and KIRKBI A/S - the Danish investment company owned by the family behind the Lego brand - owning about 30 per cent of the business each. Dubai International Capital (DIC) has disposed of its remaining stake in Merlin in line with its strategy of moving out of non-core holdings. After a string of acquisitions under
Blackstone’s ownership, Merlin has become the second-biggest theme park operator behind Disney. It has achieved nine consecutive years of double-digit growth in earnings before interest, tax, depreciation and amortisation to £238.6m ($350.7m) last year, when visitor numbers rose 9.7 per cent to 38.5 million.
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