The company, which also operates a chain of cinemas, plans to invest between A$60-70m to revamp the small, ride-based park into a top class waterpark, along the lines of its Wet ‘n’ Wild park on the Gold Coast. It will, however, continue to operate Aussie World’s Ettamogah Pub.

The new-look park, complete with 10 new rides, could be ready for operation as early as September 2009.

The Aussie World acquisition will not affect plans to develop the Adventura Waterpark project nearby, which Village declined to become a joint partner in the venture, following what it termed as ‘a flawed concept.’