Busch Gardens parent company reports $79M loss in third quarter

TAMPA — SeaWorld Entertainment Inc., the parent company of Busch Gardens Tampa, reported a net loss of $79.2 million in the third quarter of 2020. 

In a press release, the Orlando-based company attributed the loss to operational changes brought on by the COVID-19 crisis, as well as a much higher number of seasonal pass holders visiting its properties when they reopened during the summer. However, because of the ongoing coronavirus pandemic, overall attendance was sharply down, dropping to 1.6 million from 6.6 million during the same period in 2019. 

Total revenue, the release states, was $106.1 million — a decline of $367.5 million from the third quarter of 2019. Despite the losses, SeaWorld Entertainment Inc. CEO Marc Swanson praised the company’s pandemic response. 

"I continue to be extremely proud of our team's resilience and performance during these extraordinary times," Swanson states in the release. "The actions we have taken over the past eight months related to costs, cash flow, balance sheet and liquidity, re-opening protocols and operations have put us in a strong position to successfully navigate the current operating environment and emerge an even stronger business when conditions normalize."

From March 16 to June 5, all 12 SeaWorld Entertainment parks were closed. By the end of September, 10 of them, including Busch Gardens Tampa, had reopened with reduced capacity, social distancing measures, face-mask requirements and other policies put in place to reduce the spread of coronavirus.

“All of our re-opened parks are operating with enhanced health and safety protocols for our employees, guests and animals and are operating in accordance with state and local guidelines,” Swanson states in the release. “Monthly attendance improved throughout the quarter relative to prior year as we re-opened more parks and our guests demonstrated an increasing desire and willingness to visit our parks, including attending our reimagined events.  We are particularly pleased with our recently concluded Halloween events and look forward to starting our popular Christmas events next week."