Australian theme park operator Village Roadshow has abandoned plans to acquire the 23ha Aussie World resort on the Sunshine Coast in Queensland.

In May 2008, the group announced plans to purchase Aussie World’s assets and develop a Wet’n’Wild waterpark at the Queensland site.

Now, after extensive research, review and planning, Village Roadshow said: "When compared with other opportunities available, the potential returns do not justify the level of investment for the world-class waterpark, which would be required to deliver a significant destination site."

Village Roadshow maintains interests in cinema, theme parks, film production and distribution. The Croydon, Victoria-based group is publicly listed on the Australian Securities Exchange and remains majority owned by Village Roadshow Corporation, run by entrepreneurs John and Robert Kirby and Graham Burke.