Parques Reunidos (meaning "Reunited Parks") is an international entertainment operator based in Madrid, Spain. The group operates over 60 parks in about dozen countries. Parques Reunidos operates theme and amusement parks, zoos, water parks, family entertainment centers, and cable cars. These facilities are located in Spain, Belgium, Norway, the Netherlands, Denmark, the United Kingdom, Germany, France, Italy, and Australia. Annual visitors to the group's attractions exceed 22 million, with revenue exceeding $570 million (USD). In 2008 it had the fifth-highest attendance figures for worldwide chains with 24.9 million, ahead of United Parks & Resorts and Cedar Fair.[1]
Palace Entertainment was a subsidiary of Parques Reunidos based in Pittsburgh, Pennsylvania and is primarily involved in the operation of attractions in the United States.
Palace Entertainment was established in 1998, after the acquisition of four independently owned family entertainment companies. These four companies consisted of five brands: Camelot Parks, Palace Park, Boomers!, Grand Prix Race-O-Rama and Family Fun Center.[2] In the early 2000s the company purchased various Water Parks and Family Entertainment Centers.[3]
On February 27, 2006, it was announced that MidOcean Partners was to acquire Palace Entertainment. This transaction occurred in the second quarter 2006.
On August 24, 2007, MidOcean Partners sold Palace Entertainment to Parques Reunidos for $330 Million. This transaction took place in the third quarter of 2007.[4]
Fernando Eiroa joined Palace Entertainment in 2007, serving as president and chief executive officer.
In 2014, Palace Entertainment acquired Miami Seaquarium in Key Biscayne, Florida.[8]
Later that year Palace Entertainment sold 15 properties to the newly formed Apex Parks Group Including Big Kahuna's, 10 Boomers locations as well as an additional Family 4 Entertainment Centers. This was in an effort to move away from Family Entertainment Center operations for Palace Entertainment.[9]
In March 2020, it was announced that Palace Entertainment would open a new corporate facility near the Kennywood property. This new facility will house 25 executives as well as their East Coast team.[10]
↑ badams@madison.com | 608-252-6148 | @madnewsboy, BARRY ADAMS | Wisconsin State Journal | (2 March 2012). "Noah's Ark sold to California company". madison.com. Retrieved 2020-11-11.{{cite web}}: CS1 maint: numeric names: authors list (link)
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