Oscar Group Acquires Sydney's Luna Park

Sydney's iconic Luna Park has been sold to the Oscar Group, a major NSW-based hospitality firm, marking its first change of ownership in nearly two decades. The sale, from Canadian investment firm Brookfield, was concluded for an undisclosed amount, though initial expectations were around $70 million. Oscar Group, which holds a diverse portfolio of hotels, resorts, and entertainment venues, aims to transform Luna Park into a top-five tourist destination while maintaining its status as an entertainment hub for locals. This acquisition follows a $40 million redevelopment of the park, which includes various attractions such as the heritage-listed Coney Island and the recently restored Wild Mouse roller coaster. Luna Park CEO John Hughes expressed excitement about future plans, including partnerships with Netflix and new attractions. The sale generated significant interest both locally and internationally, reflecting the park's strong brand value and prime waterfront location.