Insiders and Outsiders' Divergent Faith in Ardent Leisure
Since unveiling its fiscal 2019 first-half result on Feb. 22, 2019, shares in Ardent Leisure have slumped 8%, underperforming the market by 12%. At one stage in early April, they were down as much as 23%. Investor frustration with the progress of the theme park recovery and Main Event’s uncertain growth trajectory are palpable. However, we maintain our faith and the AUD 2.00 fair value estimate, with the stock currently trading at a 34% discount to this intrinsic assessment.Restoration of Arden...
Ardent Leisure invests in and operates leisure and entertainment businesses in Australia, New Zealand and the U.S. Co. is organised into the following divisions: Marinas, which comprises seven d'Albora Marina properties, located in New South Wales and Victoria; Family entertainment centres, which comprises of 27 Main Event sites in the U.S.; Bowling centres, which comprises 48 bowling centres and six amusement arcades located in Australia and New Zealand; Theme parks, which comprises Dreamworld and WhiteWater World in Coomera, Queensland and the SkyPoint observation deck and climb in Surfers Paradise, Queensland; as well as Health clubs, which comprises 76 clubs in Australia.
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