Dreamworld, the Australian theme park on the Gold Coast, permanently closed the Tower of Terror II on November 3, 2019, primarily to focus on future development and the modernization of the park's attraction lineup. The ride had been a landmark since 1997, but as a "Reverse Freefall Coaster," it was aging and required significant, costly maintenance to keep it operating at its 161 km/h peak speed. By "retiring" the ride, the park was able to clear the way for newer, more technologically advanced projects, such as the Steel Taipan triple-launch coaster which opened in 2021. Interestingly, the park did not demolish the entire structure; the iconic 115-meter steel tower remains standing because it also supports The Giant Drop, an independent free-fall ride that continues to operate today. The removal of the Tower of Terror track from the side of the structure allowed the park to reduce its operational overhead while pivoting toward a "world-class" expansion strategy aimed at revitalizing its reputation as a premier thrill-seeker destination following a period of corporate restructuring.