Ann: Ardent Leisure FY22 Half Year Results Presentation, page-25

“Unforseeable that there was a likelihood that main event would ever be sold off? A business arm that has little or nothing to do with the rest of the business? Incorrect. It was totally foreseeable”

Not sure I agree with that. I’ve been following this company (and stock) for the last few years and everything seemed to be pointing towards the profitable and ever expanding Main Event being their core business ....so if anything it was the theme parks that looked like they might be sold off (particularly with their ongoing operating losses yet appreciating land value)

As it happens I recently sold out completely of ALG (it’s been one of my best ever investments) but have been watching it with a view to possibly re-enter on any weakness.

This announcement has certainly surprised me. I will watch the share price action with interest but to be honest I’m less attracted to ALG now that it has offloaded Main Event- the theme parks business is a lot more volatile and risky.

I lived through the period where the legal action in relation to the Thunder River Rapids catastrophe threatened to bankrupt this company.....now they’re boots n all in that caper again.....not sure I’ve got the appetite for it.

But good luck to all holders. The initial market reaction has been positive and Gary Weiss is a bit of a maverick - he knows what he’s doing so you wouldn’t rule out this pivot back to theme parks being seen as a masterstroke in two or three years time.