Business News for Bellevue and the Eastside of Lake Washington

Palace Entertainment Signs Strategic Cooperation Agreement With DreamEast

Palace Entertainment, signed a strategic cooperation agreement with China based DreamEast Entertainment Co. Ltd., a subsidiary of Skyocean International Holdings (00593.HK). Under the agreement, Palace Entertainment will supply consulting services and strategic suggestions, covering market analysis, project planning and intellectual property rights, for the amusement park and resort projects of DreamEast theme park. The cooperation will be of great importance for the market research and implementation of the DreamEast theme park project, and for facilitating the realization of the DreamEast objective to “introduce Chinese culture to the world.” Additionally, it embodies the efforts of DreamEast to integrate the best talent resources to cultivate the best theme park in the world. “China has become an extremely important area of business opportunities and we look forward to sharing our best practices and strategic advice to create new theme parks abroad,” commented Fernando Eiroa, CEO of Palace Entertainment.

Palace Entertainment, one of the largest park operators in the U.S. that entertains millions of guests annually, owns and operates 22 amusement parks, water parks, animal parks and family entertainment centers across the United States. Established in 1998, Palace Entertainment was acquired by the Parques Reunidos Group in 2007, the second largest theme park operator in Europe. Parques Reunidos Group is the 5th of the top 10 groups running theme parks in the world. It has a total of 56 parks in 12 countries in Europe and America, including parks in Spain, Belgium, Norway, Denmark, France, Italy, Britain and Argentina. It also provides valuable services in various stages of leisure park construction, ranging from consultation for preparations, business management and park operation.

DreamEast, a cultural and entertainment brand of Skyocean International Holdings (00593.HK,) was established by Skyocean to comprehensively enter the cultural industry as a result of research and practice over 12 years. Centering on intellectual properties of Chinese culture, it is devoted to integrate global talents, technologies and advanced management concepts, and construct DreamEast Culture Town, a complete cultural industry chain platform running through the creation, exhibition and experience of cultural entertainment. It is to overturn the existing pattern of the industry with the Internet thought and develop into a world first-class cultural entertainment brand.

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