To start off a news thread for this park located near Darwin, the Northern Territory government (who owns the park) is seeking to attract investors in order to privatize the facility in order to compete with nearby Crocodylus Park:
– NT News
THE Territory Government faces a tough sell trying to attract private sector investment to the Territory Wildlife Park, says a competitor to the facility.
The Government has called for expressions of interest for investment proposals to help revitalise the park, which costs about $8 million to run each year, only $2 million of which is recouped through ticket sales.
Each of the 60,000 tickets sold each year is subsidised by the government by about $100.
Grahame Webb, who runs competing wildlife attraction Crocodylus Park, said getting investors on board would be “tricky".
“(Tourism) is by no means a lucrative business, it’s a very hard business,” he said.
Dr Webb has in the past called for the park’s deregulation, saying it created an unlevel playing field for other tourism operators.
“Territory taxpayers put a lot of money into the Territory Wildlife Park – a huge amount over the years,” he said.
“It’s made it hard for us. How are you supposed to compete ... with an organisation that has unlimited money and no pressure on them to be profitable?”
Chief Minister Adam Giles said money sunk into the park by the Government was offset by the benefits of wildlife conservation and local employment.
“While we might put a lot of financial investment from the NT Government into the wildlife park, I think it’s money well spent,” he said.
– NT News