VRL price discussion, page-2

From memory the update was quite mixed. Theme parks have recovered - attendance is returning plus higher ticket yields. The business is again profitable and there is some significant CAPEX planed for SeaWorld which may be a longer term growth driver. however, there was a significant impairment in distribution, Top Golf underperformed and the roll out is on hold, overseas parks still losing money, and cinemas is largely flat. Overall it looks like they are back on track in theme parks and they have fixed the balance sheet, but the other parts of the business are either flat or struggling. It was a value play at <$2 and would be interesting at those levels, but I'll stay out for now until more information comes to light. Still own some great assets but unfortunately, management are useless!!!