PARQUES del Este Limited has been revealed as the beneficial owner of Global Attractions Limited (GAL), the entity which is set to acquire the majority interest in tourism outfit Dolphin Cove Limited (DCOVE).

The information was revealed after hours on Tuesday, more than one month after it was revealed that GAL had entered into an agreement with World of Dolphins Inc (WODI) to acquire its 79.99 per cent stake in Dolphin Cove. GAL was incorporated on March 16 as a St Lucian International Business Company (IBC) whose owners were unknown at the time.

“The directors were further advised that Parques del Este Limited is the legal entity associated with Dolphin Explorer, a swim-with-dolphins marine park located at Cabeza de Toro, Punta Cana, Dominican Republic,” stated the DCOVE disclosure.

A check by the Jamaica Observer revealed that Dolphin Explorer’s attraction is 10 minutes away from Dolphin Discovery’s Punta Cana, which is operated by Dolphin Downtown PC SRL. WODI owns 99.99 per cent of Dolphin Downtown while Eduardo Albor Villanueva owns the remaining stake.

The announcement of GAL’s owner came days after four new directors were appointed to Dolphin Cove’s board of directors. These include Darys Estrella, former CEO of the Dominican Republic’s stock exchange (Bolsa de Valores); Dr Collin Kerr, a Jamaican executive at IMCA Jamaica Limited, which is controlled by a Dominican parent entity; Alberto Berges Gonzalez, a Spanish attorney who chairs Amadita Laboratorio Clínico in the Dominican Republic; and Sylvain Dominici, a French-born executive who covers special projects at Liberty Latin America Limited, which operates Liberty Networks in the Dominican Republic.

Although GAL’s owner has been revealed, the main owner behind Dolphin Explorer is not widely known. Matteo Moro is currently mentioned as a commercial director of the facility while Regino Álvarez Pagán has been mentioned as the owner in various
Google searches.

The revelation of the beneficial owner comes at a time when WODI undertakes the sale of the Dominican Republic assets and equity interests in operating in the Cayman Islands, St Kitts and Nevis, and Jamaica. WODI currently owns Dolphin Discovery Cayman Limited in the Cayman Islands, Dolphin Discovery Limited in St Kitts & Nevis, and Dolphin Cove Limited in Jamaica.

Delaware court filings revealed that the sale of these non-debtor assets is expected to yield US$22 million in net proceeds. These proceeds are expected to be used for the bankruptcy estate’s operations and liquidation trust.

The sale of Dolphin Cove’s shares will also trigger a takeover bid whereby GAL must make an offer to the minority shareholders within 30 days after it acquires control. If GAL was to acquire more than 80 per cent of Dolphin Cove’s issued shares it could trigger a move to delist the company which has been listed since December 2010.

Dolphin Cove’s share price closed Thursday at $10.05, leaving it down 16 per cent in 2026 with a market capitalisation of $3.94 billion. There was no change in DCOVE’s top 10 shareholder composition up to June 30. The book value of the company is US$0.0764 or $11.93 per share.