SeaWorld - United Parks & Resorts, the operator of SeaWorld and Busch Gardens, has published its financial results for the third quarter and the first nine months of 2025, indicating a decline in both attendance and revenue compared to the same period last year. Despite these challenges, there were increases in some in-park spending and specific event attendance.
Attendance and Revenue Decline
United Parks & Resorts reported a 1.5% decrease in attendance, totaling 16.4 million visitors during the first nine months of 2025. Revenue fell by 3.9%, reaching $1,289.0 million compared to the equivalent timeframe in 2024. Adjusted EBITDA decreased by 11.8%, amounting to $490.0 million. The CEO cited several factors contributing to these declines, such as changes in the calendar, unfavorable weather during peak holiday periods, and a decrease in international visitors.
In-Park Spending and Event Growth
Despite the decrease in overall attendance and revenue, United Parks & Resorts noted an increase in in-park spending. Moreover, the company’s Halloween events, particularly the Howl-O-Scream activities in Orlando and San Diego, recorded significant growth.
Future Prospects and Corporate Actions
United Parks & Resorts expressed optimism regarding future business, highlighting positive trends in forward-booking revenue for Discovery Cove and planned group business for 2026. The board has approved a $500 million share repurchase program, with 635,020 shares repurchased for $32.2 million to date.
The company also plans to finalize two international park deals by the end of 2025, modeled after the SeaWorld Abu Dhabi concept. These expansions could potentially offer new growth opportunities.
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