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Village Roadshow Limited (ASX:VRL) has signed a deal to take a 51 per cent interest in a Wet’n’Wild water park in Las Vegas.
The deal has been struck with a group of prominent Las Vegas investors for the 41 acre park which is scheduled to open in May next year.
The international entertainment company will make an investment including $US12 million in cash as well as use of the Wet’n’Wild brand and management expertise.
CEO Robert Kirby says the company is playing to its natural strengths and extending a proven format, given its Wet’n’Wild parks in Arizona, Phoenix and the Gold Coast in Australia.
Village Roadshow reported a full year net profit of $33.8 million for fiscal 2012.
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