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Daily Mail
a day ago
- Business
- Daily Mail
Gulf World Marine Park shutters as owners file for bankruptcy
Gulf World Marine Park has closed and is now up for sale after years of money troubles and mounting animal welfare concerns . The Panama City, Florida , attraction — a fixture since 1970 — had drawn 150,000 visitors a year but came under fire after five dolphins died between October 2024 and May while performing shows. Police raided the property earlier this year as part of an ongoing probe. 'These are not isolated incidents — they are signs of failure, and they demand immediate action,' Senator Jay Trumbull said in a Facebook post. Parent company The Dolphin Company has since filed for bankruptcy protection, seeking $8 million to restructure. It is looking to sell Gulf World. Miami Seaquarium, home to 500 animals, and Marineland in St Augustine, FL, with 17 dolphins, are also on the market. Gulf World Marine Park was home to various aquatic species and wildlife, including sea lions, turtles and tropical birds. Local residents accused the park of crumbling infrastructure and poor care for its animals. 'The park is just quite literally falling apart, the animals, all but I would say a couple of them, in my eyes, were suffering,' Panama City Beach resident Katie Bashore revealed in May to WJHG. She also claimed the shows took place in structures with algae floating in the water, and insisted it also posed a danger to humans. Broker Matthew Bordwin, who is overseeing the sale, expects Gulf World to be sold between 45 and 90 days. 'It will be sold for redevelopment, and so we're working on that sale,' Bordwin told WJHG last week , adding the firm is 'accepting offers immediately.' With the investigation and parks up for sale, Bordwin expects The Dolphin Company 'will not exist any further' now that its selling assets and animals. Gulf World Marine Park was not the only park to receive the axe this year. Playland amusement park closed its gates in California on March 30 after 70 years following longtime business difficulties. The park had shuttered most of its rides in 2000 over safety hazards, and temporarily shut it down more than once. Six Flags in Maryland is set to close on November 2, the final day of its annual fright fest. Home to the world's third-oldest roller coaster , the park had been battling money problems , and was considered not to be beneficial in the company's plan to enhance guest experiences. Six Flags is also planning to close its Six Flags California's Great America park after concluding it was 'very low on the ranking margins.'
Daily Mail
a day ago
- Business
- Daily Mail
Beloved Florida aquatic theme park shutters as owners file for Chapter 11 bankruptcy
Gulf World Marine Park has closed and is now up for sale after years of money troubles and mounting animal welfare concerns. The Panama City, Florida, attraction — a fixture since 1970 — had drawn 150,000 visitors a year but came under fire after five dolphins died between October 2024 and May while performing shows. Police raided the property earlier this year as part of an ongoing probe. 'These are not isolated incidents — they are signs of failure, and they demand immediate action,' Senator Jay Trumbull said in a Facebook post. Parent company The Dolphin Company has since filed for bankruptcy protection, seeking $8 million to restructure. It is looking to sell Gulf World. Miami Seaquarium, home to 500 animals, and Marineland in St Augustine, FL, with 17 dolphins, are also on the market. Gulf World Marine Park was home to various aquatic species and wildlife, including sea lions, turtles and tropical birds. Local residents accused the park of crumbling infrastructure and poor care for its animals. 'The park is just quite literally falling apart, the animals, all but I would say a couple of them, in my eyes, were suffering,' Panama City Beach resident Katie Bashore revealed in May to WJHG. She also claimed the shows took place in structures with algae floating in the water, and insisted it also posed a danger to humans. Broker Matthew Bordwin, who is overseeing the sale, expects Gulf World to be sold between 45 and 90 days. 'It will be sold for redevelopment, and so we're working on that sale,' Bordwin told WJHG last week, adding the firm is 'accepting offers immediately.' With the investigation and parks up for sale, Bordwin expects The Dolphin Company 'will not exist any further' now that its selling assets and animals. Gulf World Marine Park was not the only park to receive the axe this year. Playland amusement park closed its gates in California on March 30 after 70 years following longtime business difficulties. The park had shuttered most of its rides in 2000 over safety hazards, and temporarily shut it down more than once. Visitors were concerned of the park's structures used during its shows Six Flags in Maryland is set to close on November 2, the final day of its annual fright fest. Home to the world's third-oldest roller coaster, the park had been battling money problems, and was considered not to be beneficial in the company's plan to enhance guest experiences. Six Flags is also planning to close its Six Flags California's Great America park after concluding it was 'very low on the ranking margins.' Although it is set to shutter, the Santa Clara tourist attraction is not expected to shut down until 2027. a year before the land lease ends. has reached out to The Dolphin Company about the Gulf World Marine Park closure and animal welfare concerns.
New York Post
04-07-2025
- New York Post
Marine park company reeling after five dolphins die within 8 months
A bankrupt global operator of marine parks and aquariums is seeking court approval to sell hundreds of its animals after a string of dolphin deaths at one of its Florida locations forced a facility closure and sparked multiple investigations. The Dolphin Company, which operates more than 30 parks in eight countries, cited 'limited liquidity' and 'exceedingly high' animal care costs for its dolphins, sea lions, manatees and other marine mammals, according to a filing submitted Wednesday to the US Bankruptcy Court in Delaware. The company also wants to sell some of its real estate as part of a broader restructuring effort under Chapter 11 bankruptcy proceedings initiated in March. Advertisement 5 The company that operates Gulf World Marine Park in Panama City, Fla., is seeking a court's permission to sell hundreds of dolphins, sea lions and manatees. Gulf World Marine Park The deaths occurred at Gulf World Marine Park in Panama City Beach, Fla., where five bottlenose dolphins died between October of last year and May. The fifth fatality prompted the park's closure and intensified scrutiny of the company's animal care practices. The deceased dolphins included Jett, who died in March from blunt force trauma to the head after crashing into the shallow end of a pool during a public show. Advertisement Staff response was reportedly delayed due to murky, algae-filled water. Samira, an eight-year-old dolphin, was found dead last month after weeks of distress and refusing food. Preliminary findings indicated she had ingested foreign material and suffered a pulmonary hemorrhage. Three other dolphins — Gus, Turk and Nate — died last October, with reported causes including euthanasia for a life-threatening condition, bacterial lung disease and systemic infection. Advertisement 5 The Dolphin Company operates dozens of aquatic parks and aquariums in the United States and abroad. The Dolphin Company Following the fatalities, inspections by the USDA and the Florida Fish and Wildlife Conservation Commission found troubling conditions at the park, including tanks with up to six inches of algae, broken water filtration systems, poor water quality, chronic understaffing and delayed emergency responses due to poor visibility in the water. Florida state prosecutors and federal agencies have since launched criminal investigations. Jay Trumbull, a state senator, called the situation 'disturbing and unacceptable' and urged the removal of all remaining dolphins. Advertisement 5 Five bottlenose dolphins housed at the park died within a span of eight months, including 8-year-old Samira. Instagram/ In its filing, The Dolphin Company stated that 'not only will the sale and transfer of these animals bring value to the debtors' estates, it will also aid in the animals' welfare and safety.' The company disclosed in bankruptcy documents that it housed approximately 2,400 animals as of 2023. These included 295 dolphins, 51 sea lions, 18 manatees and 18 seals. Court records show that many of these animals serve not only as live attractions but also as collateral for over $100 million in outstanding debt. 5 The Dolphin Company disclosed in bankruptcy documents that it housed approximately 2,400 animals as of 2023. PETER WILLOTT/THE ST. AUGUSTINE RECORD via Imagn Content Services, LLC The commercial value of bottlenose dolphins varies depending on training, age and appearance. Dolphins captured in Taiji, Japan, during the 2025 season have reportedly sold for between $30,000 and $128,000 each. Trained dolphins prepared for public performances can command prices up to $150,000. Advertisement California sea lions, also part of the company's holdings, typically sell for between $20,000 and $40,000, while manatees, a species that is protected under US and international law, are not commercially sold but can incur care costs exceeding $40,000 for several months and more than $100,000 for extended rehabilitation. After Gulf World's closure, 11 surviving dolphins were cleared for relocation by the National Oceanic and Atmospheric Administration. Four rough-toothed dolphins — Doris, Kitana, Dagny and Wren — were transferred to Clearwater Marine Aquarium. The remaining seven dolphins were moved to Marineland in St. Augustine, Fla. 5 The Miami Seaquarium is owned and operated by the Mexico-based Dolphin Company. Getty Images Advertisement The Dolphin Company's financial collapse has also revealed internal turmoil. Former CEO Eduardo Albor, who oversaw the company's growth over several decades, lost control of the business after it defaulted on approximately $100 million in debt. According to court filings, Albor refused to relinquish control of the company's parks in Mexico, where it is headquartered, and denied new management access to financial systems and accounts. US Bankruptcy Judge Laurie Silverstein recently ordered Albor to stop interfering with company operations and provide access to all records. Advertisement She also imposed a $10,000-per-day fine for noncompliance. Advisers overseeing the restructuring have accused Albor of diverting revenue from Mexican parks using credit card readers purchased from Costco. The Post has sought comment from The Dolphin Company and Albor.
Bloomberg
03-07-2025
- Business
- Bloomberg
Dolphins for Sale: Bankrupt Aquatic Park Firm Scrambles for Cash
Bankrupt aquatic parks operator The Dolphin Company is preparing to sell hundreds of dolphins and other marine mammals, saying the business is running low on cash and can't afford to keep caring for its animals. The company is seeking court approval to hold sales that would also include assets such as real estate, according to a Wednesday filing. TDC said it has limited liquidity and that care costs for its roughly 2,400 animals are 'exceedingly high.'
Mint
27-06-2025
- Business
- Mint
Ex-CEO of Ocean Parks Fined $10,000 a Day in Spat With Lenders
(Bloomberg) -- The former chief executive officer of a string of bankrupt, dolphin-themed animal parks is facing a $10,000-a-day fine, after he was accused of using credit-card readers he bought at Costco to divert ticket revenue away from his company's Mexican locations. A federal judge in Delaware imposed the sanctions on Eduardo Albor, who has been fighting US-based lenders for control of The Dolphin Company, which has theme parks in Latin America, the US and Europe. Judge Laurie Silverstein ordered him to stop interfering in the company's operations and give new management access to bank accounts and other financial records. The months-long dispute between Albor and lender-backed new management has disrupted the company's operations and has threatened the welfare of hundreds of dolphins, sea lions and other animals. The newly appointed independent directors have raised concern about animal welfare at the company's theme parks, as a number of dolphins have died in recent months. Regulators have also tightened scrutiny of the company. The animals are both the main attractions at the parks and valuable collateral for more than $100 million in debt. Albor spent decades building the Dolphin Company into a multinational corporation, but lost control of his empire earlier this year after the company defaulted on about $100 million of debt owed to Cigna Health and Life Insurance Company and The Prudential Insurance Company of America, according to a May court filing. The lenders had been trying to remove Albor since the default last year. In April, Albor installed new credit-card terminals at the Mexican parks, after lenders took control of the parent company and stripped him of his corporate authority, lenders alleged in court filings. The terminals allegedly allowed Albor to divert ticket-sale proceeds away from The Dolphin Company's bank accounts, which had been taken over by the new, US-based management team, they said. The cash, collected just as peak tourist season hit, was instead put into new accounts set up by Albor and used, in part, to pay his legal bills in Mexico, according to court filings. The judge's sanctions did not mention the new credit-card terminals, but focused on Albor's efforts to file court challenges in Mexico claiming to still be in charge of The Dolphin Company. Albor has used court cases in Mexico to try to block lenders from taking over the company and to remove their representatives from the headquarters in Cancun. During a court hearing this week, Albor's attorney defended the former executive, arguing that Albor has been cooperating with the new managers. The new payment machines were installed in the parks and new bank accounts opened because The Dolphin Company's main accounts had been frozen, said attorney James C. Moon. The new accounts allowed Albor to pay employees at the parks in Mexico and feed the animals, Moon told the judge. The two sides have been fighting over company records, computer systems and access to employees who are needed to operate the Mexican businesses. In April, Albor, with help from state police officers, took back control of The Dolphin Company's headquarters building, which the executive owns. After putting the corporation into bankruptcy in the US, lenders had temporarily changed the locks on the building, including on Albor's personal office. The case is Leisure Investments Holdings LLC, number 25-10606, in the US Bankruptcy Court for the District of Delaware. More stories like this are available on
