SeaWorld
A general view of the atmosphere at the premiere of Sea World San Diego's 'Turtle: The Incredible Journey' in San Diego, California, on June 21, 2011. Getty Images/Jerod Harris

SeaWorld Entertainment, Inc. (SEAS) has announced that is bringing back its free beer promotion. The company made the announcement during its earnings report on Tuesday

The free beer promotion is expected to begin sometime in June. It was unclear if it will again be limited to two 7-ounce beers per customer as was done last year. However, it may compete with Disney’s opening of Star Wars: Galaxy’s Edge attraction which opens May 31 at Disneyland and Aug. 29 at Disney World.

Gus Antorcha, CEO at SeaWorld told analysts during the earnings call that Disney’s new Star Wars attractions are not a concern for SeaWorld. He said, “I’m not so worried about other parks opening up lands or opening up rides. As this market grows, we stand to benefit.”

Also, discussed during the earnings call was the consideration by SeaWorld to raise ticket prices. The company did not indicate when or how much prices will increase.

According to SeaWorld, the company saw an increase in attendance at its parks for the fifth straight quarter in a row. Attendance rose by almost 4 percent to 3.3 million guests in Q1 2019.

Despite the increase in attendees at its parks, SeaWorld reported a $37 million net loss, which is down from Q1 2018’s net loss of $63 million. Total revenue for the company was almost $221 million, up 2 percent, according to the earnings report.

Shares of SeaWorld stock were up 3.54 percent as of 11:34 a.m. ET on Wednesday.

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