United Parks & Resorts

United Parks & Resorts Inc.
Company type	Public
Industry	Theme parks and entertainment
Predecessor	SeaWorld Entertainment Inc., SeaWorld Parks & Entertainment, Busch Entertainment Corporation
Founded	1979
Fate	Renamed from SeaWorld Entertainment Inc. in 2024
Headquarters	Orlando, Florida, United States
Area served	United States
Key people	Sergio D. Rivera (former CEO), Marc Swanson (interim CEO as of 2020)
Products	Theme parks, water parks, entertainment experiences (SeaWorld, Busch Gardens, Sesame Place)
Owner	Hill Path Capital (controlling interest as of 2019)

United Parks & Resorts Inc.—previously known as SeaWorld Entertainment Inc. and SeaWorld Parks & Entertainment—is a U.S.-based company specializing in theme parks and entertainment, with its main office located in Orlando, Florida. The enterprise manages twelve leisure destinations nationwide, comprising eight theme parks alongside four water parks. Its portfolio includes well-known brands such as SeaWorld and Busch Gardens. As of May 2018, the company held the ninth position worldwide in theme park attendance, largely propelled by key venues like SeaWorld Orlando and Busch Gardens Tampa Bay.

The Busch Gardens segment originated in 1979 under the name Busch Entertainment Corporation to facilitate expansion efforts. Rapid growth ensued with the introduction of Italy-themed attractions and the launch of two parks: Tampa’s Busch Gardens and Adventure Island Water Park, both opening in June 1980.

In July 1980, Sesame Place debuted in Langhorne, Pennsylvania through a collaboration with the Children's Television Workshop, inspired by Sesame Street. A second Sesame Place location opened in Irving, Texas in June 1982 but was closed by October 1984 due to poor performance.

Busch Entertainment expanded significantly in September 1989 by acquiring Harcourt Brace Jovanovich Park Group, which included Boardwalk and Baseball, Cypress Gardens, and the SeaWorld chain. Boardwalk and Baseball ceased operations in January 1990; however, Baseball City Stadium remained active while the park itself was sold. Water Country USA near Williamsburg was added to the portfolio in 1992. By 1993, total attendance across all properties reached a record-breaking 19 million visitors, with Busch Gardens Tampa leading the count. Cypress Gardens was divested to its management team in 1995.

In November 1992, Busch announced plans for Tibi Gardens in Salou, Spain through a joint venture. By its opening in 1995, partners had shifted to include Tussauds Group and financial institutions, leading to its rebranding as Port Aventura. Universal Destinations & Experiences later acquired a stake in 1998.

The year 2000 saw the introduction of a regional Florida Fun Cards season pass granting seven months of access for a single fee; this offering was subsequently expanded company-wide. In 2001, the company launched the tiered Passport rewards program aimed at enhancing customer insights and marketing capabilities, which proved instrumental in maintaining revenue during the economic downturn following 9/11.

In 1999, Busch Gardens Tampa secured nearly 200 acres intended for animal relocation related to planned hotel construction that ultimately did not proceed. Early in 2001, Busch sold Aurora SeaWorld to Six Flags and inaugurated Discovery Cove near SeaWorld Orlando. By November 2007, a rebranding initiative named Worlds of Discovery introduced multi-park ticket discounts across its properties. Sesame Street Bay of Play opened at SeaWorld San Diego in 2008.

Changes in leadership elevated executives from SeaWorld Orlando to corporate positions: Jim Atchison became president and COO of Busch, while Keith M. Kasen assumed chairman and CEO roles. This transition prompted relocating the entertainment division’s headquarters to Orlando in 2008, establishing SeaWorld Orlando as the flagship destination.

In February 2008, Busch entered into a licensing and management agreement with Dubai’s Nakheel Properties for developing a four-park Worlds of Discovery complex planned for phased openings between 2012 and 2015. However, the onset of the Great Recession caused indefinite postponement of this project by early 2009.

Following Anheuser-Busch’s acquisition by InBev in 2008, speculation arose regarding divestiture of non-core holdings such as Busch Entertainment to alleviate debt burdens. In early 2009, InBev sought bids for its theme park division. Cost-cutting measures included ending free beer sampling programs at several parks as well as discontinuing employee beer benefits that were unique to Busch Entertainment staff. Potential buyers reportedly included NBCUniversal though no formal offers were submitted. Concurrent asset sales and debt issuance raised over $11 billion during early 2009, easing immediate pressure to sell Busch Entertainment amid unstable credit markets and lower-than-expected bids.

SeaWorld Parks & Entertainment

In late 2009, the Blackstone Group initiated discussions to acquire Busch Entertainment, with the deal valued between US$2.5 billion and $3.0 billion. On October 7, 2009, Anheuser-Busch InBev confirmed the sale of Busch Entertainment to Blackstone for roughly US$2.7 billion. Blackstone maintained the existing leadership team and managed the company independently, rebranding it as SeaWorld Parks & Entertainment. Anheuser-Busch secured a sponsorship arrangement permitting Busch Gardens parks to retain their names and promotional activities, including the military appreciation initiative.

The transaction safeguarded all positions at the parks and the Orlando headquarters, while new departments were created to replace former Anheuser-Busch roles such as legal and procurement functions. The most significant operational modification involved removing Anheuser-Busch branding elements like the Budweiser Clydesdales. The "Busch Gardens" name was licensed indefinitely to SeaWorld Entertainment by Anheuser-Busch.

Following the acquisition, Blackstone broadened SeaWorld Parks & Entertainment’s business scope into media and consumer products. In 2011, under Chief Creative Officer Scott Helmstedter, the company launched SeaWorld Pictures, debuting with Turtle: The Incredible Journey. Additionally, SeaWorld developed television and animation divisions targeting content markets showcased at industry events such as MIPCOM and Kidscreen Summit.

In 2012, SeaWorld entered a multi-year licensing agreement with Ruckus Media to produce animal-themed digital storybooks aimed at young children and released its inaugural mobile app, Turtle Trek, in collaboration with Sleepy Giant Entertainment. Furthermore, SeaWorld partnered with Nelvana Enterprises to incorporate Franklin and Friends into the SeaWorld Kids brand through co-branded publications, thereby diversifying its entertainment portfolio.

SeaWorld Entertainment

On December 27, 2012, SeaWorld Parks & Entertainment filed for an initial public offering (IPO), rebranding itself as SeaWorld Entertainment. Proceeds from the IPO partially benefited Blackstone Group, which retained majority ownership. The company commenced trading on April 19, 2013, on the New York Stock Exchange under the ticker symbol SEAS.

In September 2013, SeaWorld Kids collaborated with Little Airplane Productions to develop Billy Green Builds!, a preschool television series centered on conservation themes announced in March 2014.

Following the release of the critical documentary Blackfish, SeaWorld faced a significant decline in profits and stock value, particularly affecting revenues at its San Diego park. In December 2014, CEO Jim Atchison resigned amid a 44% drop in share price during that year.

SeaWorld pursued international growth through a 2014 development agreement with Village Roadshow for Asian theme parks; however, this agreement expired in December 2016. The company renewed plans for a Dubai park in partnership with Miral on Yas Island, scheduled to open in 2022. In late 2015, SeaWorld also partnered with Evans Hotels to explore developing a Mission Bay resort connected to its San Diego location.

In August 2015, SeaWorld reported an 84% decrease in second-quarter net income alongside a slight visitor decline to 6.48 million guests. Joel Manby was appointed CEO in April 2015, focusing on creating fully integrated resorts combining parks, hotels, and retail outlets to stimulate growth. Early in 2016, SeaWorld established its Resort Development Group and named Anthony Esparza as Chief Creative Officer. The newly formed Deep Blue Creative division launched projects including the Kraken VR attraction and Wave Breaker coaster.

In March 2017, Blackstone divested its 21% stake to China’s Zhonghong Group, which secured board representation but was restricted from acquiring additional shares. SeaWorld also provided consulting services to Zhonghong affiliates for theme park developments within Greater China.

SeaWorld extended its licensing partnership with Sesame Workshop in May 2017 to prolong Sesame Place parks operations across the US through 2031; this included a new location replacing Aquatica San Diego, whose opening was postponed until March 2022 due to the COVID-19 pandemic.

Manby resigned as CEO in February 2018; John Reilly served as interim CEO until February 2019 when Carnival Cruise executive Gus Antorcha took over as CEO. The company resolved an $11.5 million class action lawsuit regarding automatic annual pass renewals and extended its Rudolph holiday licensing agreement through January 2024.

In May 2019, Zhonghong defaulted on loans secured by SeaWorld shares; consequently, development agreements were terminated. SeaWorld repurchased shares from affiliates of Pacific Alliance Group while Hill Path Capital acquired a controlling interest of 34.5%, gaining seats on the board.

After seven months at the helm, Antorcha resigned in September 2019; simultaneously, the Orlando call center was outsourced resulting in layoffs. Sergio D. Rivera was appointed CEO in November 2019 but stepped down in April 2020 amid board disagreements; CFO Marc Swanson then assumed interim CEO duties.

This phase reflects SeaWorld’s strategic adjustments amid financial pressures and leadership changes aimed at expanding integrated resort offerings and international ventures to restore market position and improve financial outcomes.

United Parks and Resorts Inc.

On January 30, 2024, the organization revealed its new corporate identity as United Parks and Resorts Inc., effective February 12, 2024. This update does not alter the branding of the SeaWorld or Busch Gardens parks. The stock ticker symbol was changed to PRKS on February 13, 2024.

Current properties

Parks	Locations	Themes	Opening dates	Notes
Busch Gardens
Tampa	Tampa, Florida, United States	Fauna and cultures of Africa, Asia, and Australia	June 1, 1959	N/A
Williamsburg	Williamsburg, Virginia, United States	European heritage and culture	May 16, 1975	N/A
SeaWorld
San Diego	San Diego, California, United States	Marine life exploration and oceanic adventure	March 21, 1964	N/A
Orlando	Orlando, Florida, United States		December 15, 1973
San Antonio	San Antonio, Texas, United States		May 27, 1988
Abu Dhabi	Yas Island, Abu Dhabi, United Arab Emirates		May 23, 2023	Operated by Miral Group under a licensing agreement with United Parks & Resorts.
Sesame Place
Philadelphia	Langhorne, Pennsylvania, United States	Sesame Street	July 30, 1980	Licensed through Sesame Workshop
San Diego	Chula Vista, California, United States	Sesame Street	March 26, 2022	Licensed through Sesame Workshop
Aquatica
Orlando	Orlando, Florida, United States	Tropical-themed water recreation parks	March 1, 2008	N/A
San Antonio	San Antonio, Texas, United States	Tropical-themed water recreation parks	May 19, 2012	N/A
Independent parks
Adventure Island	Tampa, Florida, United States	Water-based entertainment venues	June 7, 1980	N/A
Water Country USA	Williamsburg, Virginia, United States	Water-based entertainment venues	June 20, 1984
Discovery Cove	Orlando, Florida, United States	Interactive marine life experiences	July 1, 2000

Former properties

Busch Gardens locations

Pasadena, California (1905–1937)
Van Nuys area of Los Angeles (1964–1979)
Houston, Texas (1971–1972)

SeaWorld locations

SeaWorld Ohio in Aurora (1970–2000)

Additional parks

Cypress Gardens (Winter Haven, Florida), obtained in 1989 alongside SeaWorld parks; later sold to management and closed in 2009. Subsequently reopened as Legoland Florida under Merlin Entertainments in 2011.
Boardwalk and Baseball (Haines City, Florida), acquired in 1989 but shuttered shortly thereafter.
PortAventura Park (Salou, Spain), established in a joint venture in 1995 with The Tussauds Group and Anheuser-Busch; majority ownership transferred to Universal Destinations & Experiences by 2004.
Sesame Place (Irving, Texas), operated between June 1982 and October 1984.

Additional Divisions

Resort Development Group – specializes in hotel and retail property development
Deep Blue Creative – the creative services branch
- Theme Park Development, U.S.A. – teams dedicated to attractions, culinary experiences, and retail operations
  - Project Management
  - Guest Experience Enhancement
- Theme Park Development, International – conducts feasibility analyses, development planning, and site assessments for new parks and innovative business models
- Resort Development – focuses on land use planning, resort and hotel construction, and pioneering hospitality concepts
- Events and Entertainment – provides live entertainment support aimed at boosting repeat visitation at resorts
- Media Enterprises – involved in producing film, television, and music content
- Expedition X – responsible for prototyping and advancing new technology projects

Media Productions

Title	Format	Year	Partners	Remarks
Saving A Species: The Great Penguin Rescue	Television special	2006		Discovery Kids; recipient of Outstanding Children/Youth/Family Special Emmy Award
Turtle: The Incredible Journey	Feature film	2011
	Digital storybooks		Ruckus Media
Turtle Trek	Mobile application		Sleepy Giant Entertainment
SeaWorld Kids with Franklin and Friends	Multimedia package: two specials and books		Nelvana Enterprises, Kids Can Press
Billy Green Builds!	Animated television series		Little Airplane Productions; preschool audience, 52 episodes of 11 minutes each
Yonaguni	Animated TV series		DQ Entertainment, Rollman Entertainment; targeted at children aged 6-11, 52 episodes of 11 minutes each
Sea Rescue	Documentary TV series	2012–2018	Litton's Weekend Adventure
Wildlife Docs	Documentary TV series	2013–2019	Litton's Weekend Adventure, One Magnificent Morning

References