Ardent rejects reports of divestment talks

Dreamworld owner, Ardent Leisure Group (ASX:ALG) has responded to recent media speculation regarding a potential divestment of its US-based Main Event Entertainment.

Yesterday the Australian online reported that the company was in talks to sell the business to an American rival.

 Ardent says that it is not currently in discussions in relation to a sale of Main Event Entertainment.

Last month the Group reported its annual loss narrowed to $61 million for the year to June, as increased spending on safety, repairs and maintenance and a higher tax bill more than offset higher revenue from new US entertainment centres and theme parks including Dreamworld.

The Board did not declare a FY19 dividend and instead reinvested earnings and available capital into the business to drive growth at Main Event and support the recovery efforts at Dreamworld.

Shares in Ardent (ASX:ALG) are trading 1.96 per cent higher at $1.04.
 
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Source: Finance News Network