Ipo Paper
Shelley Rushing
SeaWorld IPO
Week 5
SeaWorld Entertainment Inc., was wholly owned by the Blackstone Group L.P., before SeaWorld went public. SeaWorld owns eleven theme parks in the United States and attracts about 24 million visitors (market watch). As noted above they are in the theme park industry just like Disney and Six Flags with a proven business model and plenty of room for growth. It offers strong consumer value proposition and caters to a broad range of guest from all over the world. They have many competitive strengths that will keep them strong throughout the IPO process and years to come. Their iconic brand that consumers know and love(S-1). Everyone knows and loves Shamu. He is known worldwide and attracts visitors just to see him and other killer whales like him. Dolphins are everyone’s favorite animal because they are smart and lovable and so cute and intelligent. Their brand portfolio is highly stable, reducing their exposure to changing consumer taste(S-1). Not only do they have SeaWorld but Busch Gardens and their other theme parks as well. Their website is a hit and so is their television program Sea Rescue to where they were going to keep airing it more seasons (S-1). Their website is beautiful and easy to maneuver through and has wonderful pictures of their animals on there. They have world class, differentiated theme parks. Out of the eleven they own five are in the top 20 in attendance (S-1). This is not just the United States but worldwide. They have a well-diversified business portfolio meaning they have good investments and don’t invest in one thing. At that time of the prospectus they had attractive, stable profit margins, and strong cash flow generation (S-1). They were producing net income from 2010 and 2011 even up until September 2012 when they filed the prospectus. Before with Anheuser Busch Inbev it was having a loss. They are open all year round (S-1). By them being open year around they do not have the fluctuation of
SeaWorld IPO
Week 5
SeaWorld Entertainment Inc., was wholly owned by the Blackstone Group L.P., before SeaWorld went public. SeaWorld owns eleven theme parks in the United States and attracts about 24 million visitors (market watch). As noted above they are in the theme park industry just like Disney and Six Flags with a proven business model and plenty of room for growth. It offers strong consumer value proposition and caters to a broad range of guest from all over the world. They have many competitive strengths that will keep them strong throughout the IPO process and years to come. Their iconic brand that consumers know and love(S-1). Everyone knows and loves Shamu. He is known worldwide and attracts visitors just to see him and other killer whales like him. Dolphins are everyone’s favorite animal because they are smart and lovable and so cute and intelligent. Their brand portfolio is highly stable, reducing their exposure to changing consumer taste(S-1). Not only do they have SeaWorld but Busch Gardens and their other theme parks as well. Their website is a hit and so is their television program Sea Rescue to where they were going to keep airing it more seasons (S-1). Their website is beautiful and easy to maneuver through and has wonderful pictures of their animals on there. They have world class, differentiated theme parks. Out of the eleven they own five are in the top 20 in attendance (S-1). This is not just the United States but worldwide. They have a well-diversified business portfolio meaning they have good investments and don’t invest in one thing. At that time of the prospectus they had attractive, stable profit margins, and strong cash flow generation (S-1). They were producing net income from 2010 and 2011 even up until September 2012 when they filed the prospectus. Before with Anheuser Busch Inbev it was having a loss. They are open all year round (S-1). By them being open year around they do not have the fluctuation of
References: Bloomberg, http://www.bloomberg.com/news/2013-04-19/seaworld-raises-702-million-in-ipo-pricing-at-top-of-range. 8/10/2013 CNN Money, “March of the Penguins”, http://money.cnn.com/2013/04/19/investing/seaworld-ipo/index.html. 7/31/2013 Market Watch, “SeaWorld Parks Files for IPO”, http://www.marketwatch.com. 7/31/2013 Sec Form S-1 SeaWorld Prospectus, http://www.sec.gov/Archives/edgar/data/1564902/000119312512515221/d448022ds1.htm. The Week, “Is SeaWorld’s proposed IPO a good deal for shareholders?” http://theweek.com/article/index/242470/is-seaworlds-proposed-ipo-a-good-deal-for-shareholders 7/31/2013