Palace Entertainment is a subsidiary of
Madrid, Spain based
Parques Reunidos which operates various attractions including amusement parks, zoos, and water parks around the world. Palace Entertainment is based in
Pittsburgh, Pennsylvania and is primarily involved in the operation of attractions in the United States.
History
Palace Entertainment was established in 1998, after the acquisition of four independently owned family entertainment companies. These four companies consisted of five brands: Camelot Parks, Palace Park,
Boomers!
Boomers! Parks is a chain of family entertainment centers which feature indoor activities such as carousels, kiddie swings, restaurants, and video game arcades, and outdoor activities such as miniature golf, kiddie rides, bumper boats, batting ...
, Grand Prix Race-O-Rama and Family Fun Center.
In the early 2000s the company purchased various Water Parks and Family Entertainment Centers.
On February 27, 2006, it was announced that
MidOcean Partners
MidOcean Partners is a New York-based alternative asset management firm that specializes in mid-sized private equity and alternative leveraged investments.
The firm, founded in February 2003, is based in Midtown Manhattan. MidOcean was original ...
was to acquire Palace Entertainment. This transaction occurred in the second quarter 2006.
On August 24, 2007, MidOcean Partners sold Palace Entertainment to
Parques Reunidos for $330 Million. This transaction took place in the third quarter of 2007.
Fernando Eiroa joined Palace Entertainment in 2007, serving as president and Chief Executive Officer.
On December 11, 2007
Kennywood Entertainment Company The Kennywood Entertainment Company was the operator of five United States amusement parks in Western Pennsylvania, Connecticut, and New Hampshire.
History
Kennywood Entertainment Co. was effectively created when F. W. Henninger and Andrew McSwigan ...
entered an agreement to sell their Five Properties (
Kennywood,
Idlewild and Soak Zone
Idlewild and Soak Zone, commonly known as Idlewild Park or simply Idlewild, is a children's amusement park in the Laurel Highlands near Ligonier, Pennsylvania, United States, about east of Pittsburgh, along US Route 30. Founded in 1878 as ...
,
Sandcastle Waterpark,
Lake Compounce and
Story Land) to Palace Entertainment's parent company
Parques Reunidos. By 2009 Palace had taken over operations of all five parks.
On November 12, 2010, Palace Entertainment announced the acquisition of
Dutch Wonderland Family Amusement Park in historic Lancaster County, Pennsylvania, from
Hershey Entertainment and Resorts Company.
On March 2, 2012, Palace Entertainment announced the acquisition of
Noah's Ark Water Park
Noah's Ark (officially Noah's Ark Family Park Inc.) is the largest outdoor water park in the United States. It features 51 water slides and dozens of various attractions. The park is located in the village of Lake Delton, Wisconsin.
History
In ...
in
Wisconsin Dells, Wisconsin.
In 2014 Palace Entertainment acquired
Miami Seaquarium in Key Biscayne, Florida.
Later that year Palace Entertainment sold 15 properties to the newly formed Apex Parks Group Including
Big Kahuna's
Big Kahuna's Water and Adventure Park is a water park located in Destin, Florida, which opened in 1986. The park is primarily a water park
A water park (or waterpark, water world) is an amusement park that features water play areas such as swi ...
, 10 Boomers locations as well as an additional Family 4 Entertainment Centers. This was in an effort to move away from Family Entertainment Center operations for Palace Entertainment.
In March 2020 it was announced that Palace Entertainment would open a new corporate facility near the Kennywood property. This new facility will house 25 executives as well as their East Coast team.
In December of 2021 Palace Entertainment would acquire
Adventureland in
Altoona, Iowa.
Amusement parks
Water parks
Marine animal parks
Family entertainment centers
Hotels and campgrounds
Former properties
References
External links
*
MidOcean Partners website Parques Reunidos Group website
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{{Parques Reunidos
Amusement park companies
Entertainment companies based in California
Companies based in Newport Beach, California
Entertainment companies established in 1998
1998 establishments in California
Parques Reunidos