Can a Wet’n’Wild sale offset declining cinema visits for Village Roadshow Ltd (ASX:VRL)?

Entertainment media company Village Roadshow Ltd (ASX: VRL) is in a trading halt pending a company announcement, off the back of news it will sell its western Sydney Wet’n’Wild water park for more than $40 million.

But according to The Australian, while Citi and Macquarie analysts believe the sale will “solve the company’s balance sheet issue” it won’t change the fact that cinema visits are declining.

According to the article, both Citi and Macquarie maintained a neutral rating on the stock but saw plenty of headwinds at play, including the flagged $95 million write down on the value of Village’s Gold Coast theme parks in the wake of a fatal accident at Dreamworld in 2016.

Elsewhere in the space shares in leisure and entertainment company Ardent Leisure Group (ASX: AAD) have stalled lately with a recent announcement of significant restructuring of its Dreamworld management team, with an inquiry into the 2016 accident continuing.

Event Hospitality and Entertainment Ltd (ASX: EVT) shares have slid into the red of late, while Aristocrat Leisure Limited (ASX: ALL) has continued its incline – closing off July 11 at $31.01 – up 45% up from its share price of $21.39 at this time last year.

7 of 8 People Are Clueless About This Trillion-Dollar Market

One of our investors has recently returned from a research trip to Silicon Valley... and has a warning for fellow investors:

Because he works for an organization dedicated to spreading great investing ideas, his video report is free today... so you can see it and decide for yourself.

Don't miss your chance click here to learn about this warning and how you might be able to profit!

Motley Fool contributor Carin Pickworth has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Event Hospitality & Entertainment. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

5 ASX Stocks for Building Wealth After 50

I just read that Warren Buffett, the world’s best investor, made over 99% of his massive fortune after his 50th birthday.

It just goes to show you… it’s never too late to start securing your financial future.

And Motley Fool Chief Investment Advisor Scott Phillips just released a brand-new report that reveals five of our favourite ASX stocks for building wealth after 50.

– Each company boasts strong growth prospects over the next 3 to 5 years…

– Most importantly each pays a generous dividend, fully franked.

Simply click here to find out how you can claim your FREE copy of “5 ASX Stocks for Building Wealth After 50.”

See the stocks now