A California attractions operator has signed an agreement to acquire Miami Seaquarium on Virginia Key for an undisclosed sum.
Festival Fun Parks LLC, doing business as Palace Entertainment, announced the acquisition Friday. The price was not disclosed subject to a nondisclosure agreement in the deal with Wometco Enterprises Inc.
County parks officials are completing a review of the proposed acquisition and are expected to present their findings to county commissioners for approval in coming weeks.
Miami Seaquarium was the largest marine-life attraction in the world at the time of its opening in 1955. It cost $2.3 million to build and opened on a 38-acre site at 4400 Rickenbacker Causeway after 14 months of construction and 14 years of planning.
“We are excited to be joining our 58 years of heritage with the Palace Entertainment family of parks,” said Andrew Hertz, president and general manager of Miami Seaquarium. Its attractions include Lolita, the killer whale.
Palace Entertainment, owned by Spain’s Parques Reunidos, operates amusement parks in 11 states, offering attractions such as roller coasters, ferris wheels, live shows, pools, water slides, animal shows, miniature golf courses and arcade games. The attractions include the Boomers chain.
Holland & Knight partner Bruce Colan in Miami is the lead attorney for the seller.