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Wednesday, April 22, 2020

SeaWorld takes steps to stay afloat with multi-million dollar loan

Posted By on Wed, Apr 22, 2020 at 3:17 PM

click image PHOTO COURTESY SEAWORLD/FACEBOOK
  • Photo courtesy SeaWorld/Facebook

SeaWorld has been sailing through choppy waters amid the coronavirus pandemic, with the park's closing and the subsequent furlough of the majority of its workforce followed closely by the resignation of new CEO Sergio D. Rivera. But the theme park giant claims that it has enough funding on hand to make it through 2020, and has taken additional steps to ensure financial stability in the face of an increasingly uncertain timeline for reopening.

According to an SEC filing yesterday, SeaWorld has procured loans worth $227.5 million. Interim CEO Marc Swanson gave a statement on the loans to News 13, saying:

I am proud of our team and thankful for their resilience during these uncertain times. We are fully committed to successfully navigating through this current environment, reopening our parks and welcoming back our guests as soon as it’s safe and permitted.

A small staff of zoological experts continues to care for the animals at the park. Despite claims of continuing cost-cutting plans, the company gave several executives millions in stock awards last week, according to another SEC filing.

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