Coast Entertainment Holdings Ltd Secures Coomera Approval for Dreamworld Plan

Coomera landholding approval unlocks four-precinct masterplan for Coast Entertainment

The Queensland Government has approved the development application for Coast Entertainment Holdings 55-hectare Coomera landholding, delivering long-sought certainty over future permissible uses. The application, lodged in September 2023 and called-in by the Queensland Deputy Premier in October 2025, now unlocks a four-precinct mixed-use masterplan alongside the existing Dreamworld and WhiteWater World theme parks.

The path to this outcome moved through several regulatory stages, with SARA referral agency support issued in June 2026 representing the penultimate step before the Queensland Deputy Premier exercised the Ministerial call-in power that ultimately delivered the approval.

The approval arrived alongside two further developments announced on 20 July 2026: a strong FY26 preliminary trading update showing double-digit growth, and the appointment of Barrenjoey Advisory to lead a review of capital and funding options. Coast Entertainment trades on the ASX under the ticker CEH.

Inside the four-precinct Dreamworld masterplan

The approval establishes the Dreamworld Development Code, expanding the set of permissible supporting and complementary land uses while maintaining in full the existing tourism use development rights. The Site is a combined 55-hectare freehold landholding located alongside the Pacific Motorway and adjacent to the Coomera Town Centre.

The masterplan is organised into four core land use precincts:

1. Major Tourism Core — includes the existing Dreamworld and WhiteWater World theme parks.

2. Nature-Based Tourism Precinct — enabling low-impact eco-tourism developments including viewing platforms, eco-tourism cabins and boardwalks.

3. Gateway Precinct — Extension of the existing theme parks, providing for mixed-use complementary and supporting uses such as a hotel, offices, childcare, short-term accommodation, hospitality, sport and recreation, and entertainment venues.

4. Town Centre Transition Precinct — uses that support and reinforce town centre activities such as a bar, educational establishment, health care services, high-density residential, office, retirement facility and rooming accommodation.

The approval includes conditions relating to vegetation clearing, bushfire management, stormwater and flood management, traffic impact mitigation, noise attenuation and koala habitat management, all consistent with those previously discussed with the State Government.

For investors, the significance lies in the certainty over land use. The Company noted the outcome provides greater clarity over the permissible future uses and development potential of its land, something that had remained elusive for many years and, in the Chairman’s words, eluded those who came before for decades.

FY26 preliminary trading shows double-digit growth

The Company’s FY26 preliminary trading figures are unaudited. Its Theme Parks & Attractions business delivered double-digit growth across ticket sales, visitation and revenue. Because FY26 is a 53-week year, statutory figures are paired with like-for-like (LFL) comparisons against a 53-week prior trading period.

The Group is also expected to report strong growth in EBITDA (excluding Specific Items) for FY26, both for the Theme Parks & Attractions business and on a consolidated basis, driven by revenue uplift, improved operating leverage and disciplined cost management.

This performance was achieved despite ongoing economic headwinds across the consumer discretionary sector and a softening of inbound visitation to the Gold Coast during the Easter holiday period. Strong demand from the local market, generating a higher proportion of annual pass sales, underpinned the growth.

The deferred income balance of $20.2 million provides a solid revenue base for FY27. The Company framed the result as continued progress towards its objective of returning to historical performance levels.

Why land-use certainty matters for a theme park operator

For a company sitting on large freehold land, this certainty carries real financial weight. Approved permissible uses can materially increase land value even before any construction begins, a concept commonly referred to as “value uplift.”

In Coast Entertainment’s case, the 55-hectare freehold now has clarity for hotel, residential, health care and eco-tourism uses. For investors, this marks the difference between an undeveloped land parcel and a de-risked development pipeline with defined optionality.

Board commissions valuation and Barrenjoey review

Given the value the approval creates, the Board has commissioned a fresh and independent valuation of the Dreamworld business and the surrounding freehold landholdings. The Company will update the market once the valuation exercise has been completed.

The Board has also appointed Barrenjoey Advisory Pty Limited to lead a comprehensive review of capital and funding options available to maximise shareholder value, including how best to utilise the Company’s asset base to its full potential.

Importantly, the Company has stated it has not made any decisions, nor entered into any commitment or arrangement, regarding the proposed use of the Site. The engagement signals the Board is actively exploring ways to crystallise value from the approval.

Director commentary

Greg Yong, Group Chief Executive

“The scale of what is possible here is significant. We are situated at the heart of the southern hemisphere’s largest theme park destination, surrounded by a rapidly growing residential community, a burgeoning industrial and marine sector, and the emerging Coomera health precinct. Add to that a chronic shortage of quality hotel accommodation between the northern Gold Coast and Brisbane, and a clear tailwind into the 2032 Brisbane Olympic and Paralympic Games – and we believe this is among the most compelling mixed-use development opportunities in the country today.”

Dr Gary Weiss AM, Group Chairman

“This approval is a watershed moment for Coast Entertainment – and it has been a long time coming.”

“The sale of Main Event – executed at an opportune moment during the COVID recovery, following a two-fold increase in EBITDA over four years – and the subsequent return of $455 million to our shareholders demonstrated the disciplined capital stewardship that has positioned this Company for what comes next.”

Weiss referenced the 2016 accident and the COVID-19 pandemic as part of the Group’s broader recovery narrative, framing the years since as a test of resilience for the business and the wider industry.

Strategic outlook and next steps

The Company outlined several next steps as the development pathway progresses:

• The independent valuation of the Dreamworld business and surrounding freehold land is to be completed.

• The Barrenjoey review of capital and funding options remains ongoing.

• Further market updates will be provided as development pathways are progressed.

Coast Entertainment operates some of the Gold Coast’s most iconic attractions, including Dreamworld, WhiteWater World and the SkyPoint Observation Deck. The Company supports more than 1,000 direct jobs and has invested over $180 million in its operations over the past seven years, including the Rivertown precinct, the King Claw ride, attractions, and guest experiences.

The Coomera region continues to experience significant population growth and infrastructure investment ahead of the Brisbane 2032 Olympic and Paralympic Games, providing a supportive backdrop for the Group’s expanded development optionality.

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