Benidorn/Spain: Terra Mitica in the “Red”

According to reports in the Spanish media, Terra Mitica noted roughly ten percent less visitors last year than it did in 2007. All together, 1.01 million people passed through the park’s gates last year. Terra Mitica is therefore now faced with financial problems once again; a loss of 15 million euros was noted last year. In the forefront of this season’s opening, the shareholders had to make a short-term cash injection of a few million euros in order to ensure that the park could open for the season. According to reports, the main shareholders CAM and Bancaja aim at selling the indebted amusement park. Apparently they are willing to risk some losses in the process, say the Spanish media. Based on the latest news, CEO Scott Fitzgerald, who “left the ship” months ago, is expected to be replaced by Juan José de Torres, the current general manger of Parque Warner de Madrid. (eap)