Ardent Leisure Quits Gym, Prefers to Play
The fall from grace for what was once a key growth engine for Ardent Leisure is complete. Despite management's recent efforts to revitalise the Goodlife chain of gyms, it is clear that competitive pressures in the domestic fitness industry are proving too much to bear.The AUD 260 million sale price for the gym business is above the book value of AUD 252 million, struck at a generous fiscal 2016 enterprise value/EBITDA of 8.6 times. The proceeds significantly bolster the firm's balance sheet, w...
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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