Insights

Ardent Leisure (ASX:ALG) share price soars 6% as Dreamworld reopens

The Ardent Leisure Group Ltd (ASX: ALG) started its long road to recovery today as Dreamworld reopened on the Gold Coast.
The post Ardent Leisure (ASX:ALG) share price soars 6% as Dreamworld reopens appeared first on Motley Fool Australia. –

The Ardent Leisure Group Ltd (ASX: ALG) started its long road to recovery today as Dreamworld reopened on the Gold Coast. The Ardent Leisure share price is trading higher as a result, up 5.43% at 48 cents. 

What does the company do?

Ardent Leisure owns and operates leisure and entertainment assets across Australia and the United States. In Australia, these include Dreamworld, WhiteWater World and SkyPoint theme parks. The company’s Main Event portfolio also includes a growing number of family entertainment assets in the US.

Why has the Ardent Leisure share price soared?

The Ardent Leisure share price is flying today as the company finally begins its recovery out of the coronavirus pandemic that has decimated its share price. The gates to Dreamworld and Whitewater World are finally open again, 177 days after the pandemic forced them shut.

Work on a new $30-million rollercoaster is also about to start, sparking further excitement for fans and shareholders.

Dreamworld is implementing health and safety measures, making WhiteWater World a seasonal water park. It will operate each year from early September to late January in response to the pandemic. The Gold Coast theme parks reportedly drew large crowds as more than 400 staff returned to work.

Rival operator Village Roadshow Ltd (ASX: VRL) reopened Movie World, Sea World and Wet’n’Wild in July.

What now for Ardent Leisure

The reopening comes a fortnight before the resumption of Work Health and Safety court proceedings against Ardent Leisure. In July, the company pleaded guilty to three charges relating to the deaths of four people on the Thunder River Rapids Ride in 2016. Shareholders will be hoping that a fast recovery from COVID-19 will help get the Ardent Leisure share price back on track.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

See The 5 Stocks

*Returns as of June 30th

More reading

Motley Fool contributor Daniel Ewing has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

The post Ardent Leisure (ASX:ALG) share price soars 6% as Dreamworld reopens appeared first on Motley Fool Australia.

Trade The World Anywhere & Anytime!

Mobile app platform with over 50,000 global listed securities across 12 markets (over 70% global market capitalisation), right from your Android or iOS device.

Integrated with exclusive trading idea and investment analysis tools to help you find actionable insight on virtually every financial instrument across our 12 global markets, to help you optimise your trading strategies.

Refer Your Friends

Tell your friends about Monex and gift them FREE access to our trading tools.

We respect your privacy and will only send this one email notification to your friends. 

Share With Your Friends

Share on facebook
Share on twitter
Share on linkedin

Monex Trading Tools Access and Usage Terms

The Monex Trading Tools (referred to as ‘tools’ hereafter) are available to you inside your client portal;


To activate access to the tools, you must have a verified and approved trading account and have made a deposit of at least AUD $1000.


An active and funded account with a positive trading balance is required to continue to have access to the tools;


Although the tools are available to you indefinitely, Monex Securities may at it’s discretion disable access to the tools in the future;


Monex securities reserves the right to change these terms and conditions from time to time, as it sees fit, without notice.

Important Notice
iOS & Android App - 12 International Markets & Over 70% Global Market Cap. $0 Brokerage On US Trades. Click Here!