Theme park owner not worried by economy

Ardent Leisure says Australia has more mortgage stress than the US, which may explain why its American operations are doing better.

Amusement park operator Ardent Leisure says it isn't too worried about the Australian economy.

The group's family entertainment centres in the United States have enjoyed strong earnings growth but the company's theme parks in Australia have been less successful.

But Ardent chief executive Greg Shaw says local spending on entertainment is far less discretionary than many people realised.

"If you focus too much on the broader economic environment ... really it takes away the focus on what you should be doing in your business, which is really creating new excitement, creating innovation, focusing on the customer experience," he told AAP after the company's annual general meeting in Sydney on Thursday.

"If you continue to do that, you can continue to deliver growth come good or bad times."

Mr Shaw, however, noted key differences between the US and Australian markets.

"No doubt there's more mortgage stress in the Australian market than there is in the US," he said, adding that lower living costs gave Americans there more money to spend.

Ardent's Texas-based Main Event division saw underlying earnings rise by 30 per cent during the September quarter.

That includes tenpin bowling and indoor rock climbing in the US.

But Ardent's Gold Coast theme park businesses, including Dream World and Whitewater World, had a seven per cent fall in underlying earnings.

The company's overall revenue rose by more than 10 per cent to $139.1 million.


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