United Parks & Resorts Inc. - SEAS STOCK NEWS

Miral has announced that construction of SeaWorld Abu Dhabi is over 40% complete. This marine life theme park, in collaboration with SeaWorld Parks & Entertainment, is set to open at Yas Island by the end of 2022. It will feature six realms highlighting marine ecosystems and boast one of the world's largest indoor aquariums. The park is part of a $3.2 billion investment and aims to enhance Abu Dhabi's tourism through a unique blend of entertainment and marine conservation.

SeaWorld San Diego has launched a new experience called Zoo Days: Bayside BBQ & Brews, running from August 28 to September 27, 2020. This limited-capacity, ticketed event allows guests to explore the park safely while enjoying BBQ and craft beers. Tickets cost $74.99 for adults and $64.99 for children, with discounts for Pass Members and Fun Card holders. The experience includes access to outdoor animal exhibits and presentations, enhancing health measures such as physical distancing and capacity limits.

SeaWorld Entertainment (NYSE: SEAS) reported significant declines in attendance and revenue for Q2 2020 due to COVID-19. Attendance dropped to 0.3 million from 6.5 million, while revenues fell to $18 million from $406 million, leading to a net loss of $131 million. Adjusted EBITDA showed a loss of $53.8 million. Despite these challenges, nine parks have reopened with positive cash flow, and forward bookings for Discovery Cove in 2021 are up 176%. As of June 30, liquidity stood at $876 million, bolstered by recent note offerings. The company remains cautiously optimistic about recovery.

SeaWorld Entertainment, Inc. (NYSE: SEAS) announced the closing of a private offering of $500 million second-priority senior secured notes due 2025. The funds will be utilized to repay existing borrowings on its revolving credit facility and for general corporate purposes. The notes were offered to qualified institutional buyers and non-U.S. investors only, and will not be registered under the Securities Act. This issuance aims to bolster financial stability amidst ongoing challenges, including impacts from COVID-19.

Busch Gardens Williamsburg announces the launch of a new event, Coasters and Craft Brews, running from August 6-16. While general park operations remain closed, this special outdoor event features iconic roller coasters, local brews, and barbeque. Guests must reserve tickets, starting at $44.99, and a Members only sneak peek occurs on August 5. The park will adhere to enhanced health protocols, including limited capacity and physical distancing, to ensure guest safety.

Annual Memberships are available for as low as $10.99 per month.

SeaWorld Entertainment, Inc. (NYSE: SEAS) announced the pricing of its offering of $500 million in 9.500% second-priority senior secured notes due 2025, increasing from an initial $400 million. The offering is set to close on August 5, 2020. Proceeds will be used to repay borrowings under its revolving credit facility and for general corporate purposes. The notes will be fully guaranteed by the Company and its subsidiaries, and are being offered to qualified institutional buyers under Rule 144A and non-U.S. investors under Regulation S.

SeaWorld Entertainment (NYSE: SEAS) reported preliminary Q2 2020 results amid COVID-19 disruptions. The company temporarily closed all parks on March 16, reopening some in June with reduced capacity. Attendance showed a 14% improvement week-on-week, yet overall Q2 attendance fell by 6.2 million guests to 0.3 million. Revenue plummeted to approximately $18 million from $406 million YoY. Cash reserves were $376 million, and a net loss is estimated at $105 million. Despite challenges, 2021 bookings for Discovery Cove are significantly higher than 2020, indicating potential recovery.

On July 29, 2020, SeaWorld Entertainment (NYSE: SEAS) announced a private offering of $400 million in second-priority senior secured notes due 2025. The notes will be guaranteed by the Company and its subsidiaries and are intended to repay outstanding borrowings, fund working capital, and cover fees related to the offering. The notes will primarily be offered to qualified institutional buyers under Rule 144A and to non-U.S. investors under Regulation S. This offering is part of SeaWorld's ongoing efforts to manage its financial obligations amid a challenging market environment.

SeaWorld Entertainment, Inc. (NYSE: SEAS) will announce its second quarter financial results on August 10, 2020, before market opens. This will be followed by a live conference call at 9 a.m. Eastern Time on the same day. Investors can access the call via the company's official website. A replay will be available starting 12 p.m. Eastern Time on August 10, 2020. SeaWorld is a prominent theme park operator known for its commitment to animal welfare and conservation, operating multiple well-known brands across the United States.