Six Flags in trouble: Looking to sell parks

RLAiello · Post by **RLAiello** » Sat Jun 24, 2006 9:40 am

In yesterday's Chicago Tribune, there was an article that said that Six Flags is in major financial trouble and they are looking to get rid of 6 more parks. One of the parks mentioned was Magic Mountain in CA; others were parks in Seattle, Denver, and Houston (do they still have a park there after Astroworld closed? Or are they just including it as part of a possible land sale?).

No mention of Great America, of course... since it is apparently their best property. However the article did mention the recent Cedar Fair purchase of the Paramount properties.

You can view the article here for all the facts and figures... you may need to register with the Tribune, but it's free.

http://www.chicagotribune.com/business/ ... 6733.story

dpxtreme · Post by **dpxtreme** » Sat Jun 24, 2006 10:02 am

The other park in Houston is a waterpark owned by Six Flags. It's called Splashtown. Six Flags Elitch Gardens and Six Flags Darien Lake were the other two theme parks on the chopping block, along with a few more water parks.

When they mentioned Six Flags Magic Mountain, I was shocked. But, I don't really believe they would sell the park after they spent millions of dollars building Tatsu. And they have 16 other world class coasters.

RLAiello · Post by **RLAiello** » Sat Jun 24, 2006 10:07 am

Here's an interesting quote from the article:

Ticket sales declined as Six Flags raised prices to keep rowdy teenagers out of its parks, executives said.

"This brand is much more damaged than we previously thought,'' Shapiro, 36, said in a conference call yesterday. ``We are driving out a certain segment of the teen population: Those that loiter, those that smoke, those that don't spend money, those that drive up our security problems.''

I dunno, how about those that come to the park to ride the rides? Those that are poor? Those that can't afford $50 a ticket?

I'm just sayin'.

Glorfindel7 · Post by **Glorfindel7** » Sat Jun 24, 2006 4:03 pm

That's really the issue, with gas being so high and prices for both getting into the park, parking, and food once you're there, very few people can afford to spend a day there.

In this case demand definitely DOESN't outweigh supply!

SFGAmfreak4life · Post by **SFGAmfreak4life** » Sat Jul 01, 2006 2:11 pm

I have a feeling that with the way things are going that Six Flags will not survive. I would like this because I dont like the way Six Flags runs their parks. I wonder if Marriott would consider buying the park. Cedar Fair would be nice too.

Papas · Post by **Papas** » Sun Jul 02, 2006 12:33 am

I have a feeling that with the way things are going that Six Flags will not survive.

Transitions take awhile. You should see all the families that crowd up Hometown Square at 9 to watch the show/fireworks/parade. Good word of mouth with families that are visiting now will attract more families willing to make the investment to come, along with the families that visited before. The park may not really be packed, but with the entertainment SFGAm is offering this year compared to last its causing families to stay later, their having a better a time, and the $$ comes rolling in. Also think of how much a regular family spends in the park compared to a group of teenagers.

Six Flags now is in a much better position than a few years ago, the selling of parks should not come as a surprise because management wont tolerate parks that cannot offer the overall product that Six Flags wants to have (family entertainment package). Some will go this year, and more and more will keep going over the next couple years.
Six Flags is not selling parks because their "in trouble." Theyd be selling parks anyway.

segerken · Post by **segerken** » Sat Jul 15, 2006 12:08 pm

In today’s San Jose Mercury news there is an article that says that Magic Mountain is for sale and that it is a good possibility that it will be sole to developers.