Paramount Global‘s PARA Nickelodeon is all set to dazzle visitors with the upcoming launch of the SpongeBob SquarePants-themed Dark Ride on Mar 1 at the Circus Circus Hotel in Las Vegas. Crafted by Sally Dark Rides and drawing inspiration from the beloved Nickelodeon animated series, this $6 million attraction, known as SpongeBob’s Crazy Carnival Ride, is primed to offer a delightful, interactive experience.
The ride invites guests to embark on a whimsical journey through the enchanting world of Bikini Bottom, teeming with vibrant sets, animatronic characters, special effects, and immersive integrated projections that promise an unforgettable encounter with the aquatic antics of SpongeBob SquarePants.
From the thrilling Adventuredome to the cutting-edge Midway with its myriad video games, Circus Circus Hotel showcases a rich tapestry of attractions on its premises. Moreover, families and thrill-seekers can bask in the excitement of the Splash Zone, a year-round water park boasting pools, whirlpools, and interactive features like the iconic 50-foot slide tower – a treasure trove of exhilarating adventures that is anticipated to bolster revenues in the current fiscal year.
The Zacks Consensus Estimate for 2023 predicts revenues of $29.79 billion, marking a marginal year-over-year dip of 1.2%. Earnings are expected to come in at 47 cents per share, reflecting a decline of 72.51% from the previous year.
PARA’s Competitive Landscape in the Theme Park Market
Navigating through the theme park industry, Paramount Global faces a blend of opportunities and challenges, with a competitive ambiance stirring within the sector. The theme park market, a beacon of growth for the company amidst the turbulence in its traditional media and streaming realms, puts Paramount up against some formidable competitors.
PARA’s much-anticipated Bali theme park, currently under construction, is poised to shake up the theme park landscape. It is foreseen as a strong contender that will undoubtedly raise the stakes for other players in the sector.
Year to date, shares of this Zacks Rank #3 (Hold) entity have seen a modest rise of 5.1%, lagging behind the Consumer Discretionary sector’s robust 18.2% surge, engendered by fierce competition from Six Flags Entertainment SIX, Cedar Fair FUN, and Comcast CMCSA.
With a commanding presence, Six Flags Entertainment towers as the largest theme park company and water park operator in North America, presiding over an impeccable portfolio of 27 unique theme and water parks across the region. The company’s solid financial standing and ambitious plans for global expansion underscore its heavyweight status in the theme park sector.
Cedar Fair, flaunting a collection of 17 theme parks situated in Canada and the United States, dazzles with its diverse offerings, including facilities tailored for sports enthusiasts and a spectrum of 11 resorts. This broad assortment of attractions cements Cedar Fair’s position as a leading light in the theme park and entertainment landscape.
Under the aegis of Comcast Corporation, Universal Studios may possess fewer parks than its counterparts, but its allure remains potent, particularly fueled by the magnetic appeal of the Harry Potter franchise. The theme parks housing the enchanting wizarding world have been pivotal in driving footfalls across its five locations spanning the United States and Asia.
Excited to delve into the financial market trends? Want to know the secret to investing success? Join us as we dissect market dynamics and unveil the top 10 stocks for 2024.
Discover the New Top 10 Stocks >>
Seek insights from Zacks Investment Research.
Please note that the views and opinions expressed are solely those of the author and do not necessarily reflect the views of Nasdaq, Inc.
