Once a cherished attraction, Gulf World Marine Park in Panama City, Florida, has shut its doors for good. This beloved aquatic venue, a staple since 1970, drew 150,000 visitors each year with its array of sea lions, turtles, and tropical birds. Yet, financial woes and mounting concerns over animal welfare have led to its downfall.
According to the Daily Mail, Gulf World’s closure marks the end of a long struggle for its parent company, The Dolphin Company, which has now filed for Chapter 11 bankruptcy protection.
Tracing the timeline, Gulf World’s troubles became public as early as 2024, with significant distress signaled by the deaths of five dolphins between October 2024 and May 2025 during performances. This tragedy sparked outrage among locals and raised serious questions about the park’s care standards. Reports of crumbling infrastructure only fueled the criticism.
“The park is just quite literally falling apart,” said Panama City Beach resident Katie Bashore to WJHG in May 2025. She added that many animals appeared to be suffering under the park’s conditions.
Adding to the scrutiny, police raided the property earlier in 2025 as part of an ongoing investigation. While details remain sparse, the raid intensified public and regulatory attention on the park’s operations.
Senator Jay Trumbull weighed in on social media, stating, “These are not isolated incidents.” His call for action echoed the sentiments of many who saw systemic failure at play.
Facing insurmountable debt, The Dolphin Company is seeking $8 million to restructure through bankruptcy protection. The firm has put Gulf World Marine Park up for sale, alongside other properties like Miami Seaquarium, home to 500 animals, and Marineland in St. Augustine, Florida, which houses 17 dolphins.
Broker Matthew Bordwin, tasked with overseeing the sale, expects Gulf World to be sold within 45 to 90 days. “It will be sold for redevelopment,” he told WJHG recently. He’s actively accepting offers to move the process forward. Bordwin also delivered a stark prediction about The Dolphin Company’s fate. “Will not exist any further,” he noted to WJHG, suggesting the company’s complete dissolution after unloading its assets and animals.
The shuttering of Gulf World isn’t an isolated event in the amusement industry. Playland amusement park in California closed on March 30, 2025, after 70 years, having faced business challenges and safety issues that led to the closure of most rides in 2000. Temporary shutdowns had plagued it even before this final closure.
Similarly, Six Flags in Maryland will close on November 2, 2025, coinciding with the end of its annual fright fest. Home to the world’s third-oldest roller coaster, the park has struggled financially and was deemed unaligned with the company’s guest experience goals.
Looking ahead, Six Flags also plans to close its Great America park in Santa Clara, California, by 2027, a year before its lease on the land expires. Low profitability margins placed this location at the bottom of the company’s priorities.
For investors and financially savvy readers, these closures underscore the risks associated with industries that rely on discretionary spending. Theme parks, while nostalgic, face brutal economic realities when mismanagement or external pressures—like public backlash over animal welfare—erode trust and revenue.
From a free-market perspective, the failure of entities like The Dolphin Company underscores the importance of efficiency and adaptability. Government intervention won’t save poorly run businesses, nor should it—capital should flow to firms that prioritize sound operations over sentimentality.
As Gulf World’s story unfolds, consider diversification in your portfolio to hedge against sector-specific downturns. DailyMail.com has reached out to The Dolphin Company for comment on the closure and animal welfare issues, but the lesson for wealth-builders is clear: invest in resilience, not relics.