SeaWorld Entertainment to Change Corporate Name to United Parks & Resorts

Dow Jones2024-01-30

By Will Feuer

SeaWorld Entertainment is changing its corporate name to United Parks & Resorts, a move that reflects the theme-park operator's ambitions to expand internationally and push deeper into the lodging business.

The company's four SeaWorld-branded parks, three of which are in the U.S., will continue to operate under the SeaWorld banner.

Over the past decade, the SeaWorld brand has faced criticism, in part sparked by the 2013 documentary "Blackfish," which investigated the company's past treatment of captive orcas. SeaWorld has sought to reposition itself by focusing on animal education, rescue and rehabilitation.

The company's corporate name change is effective Feb. 12. SeaWorld will also change its ticker symbol from SEAS to PRKS, with trading as PRKS set to begin Feb. 13.

Chief Executive Marc Swanson said the change better captures the collection of parks that the company owns. The company has seven brands across 13 parks in the U.S. and Abu Dhabi. Aside from SeaWorld, the company also owns the Busch Gardens parks as well as the Sesame Place parks, among other brands.

SeaWorld charting a path forward after two of its key rivals, Cedar Fair Entertainment and Six Flags, struck a deal last year to merge. At the same time, bigger rivals such as Disney and Universal are pouring billions into their parks divisions.

Write to Will Feuer at Will.Feuer@wsj.com

(END) Dow Jones Newswires

January 30, 2024 08:06 ET (13:06 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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