Six Flags sells 7 of its parks.....

[Horizons78]

Glad this isn't a problem we have to worry about.....

http://www.usatoday.com/money/industries/2007-01-11-six-flags-sale_x.htm

Six Flags selling seven parks for $312MUpdated 1/11/2007 11:23 AM ET
swapContent('firstHeader','applyHeader');

NEW YORK (Reuters) — Six Flags (SIX) said Thursday that it sold three
water parks and four theme parks for $312 million as part of its efforts to
reduce debt, sending its shares surging.

The amusement park operator has been reworking its business since a
shake-up of its board and top management after investor Daniel Snyder
won a long-running battle for control of the company in 2005. Six Flags
has since been focusing on families and improving its financial position.
Six Flags, which had planned to sell up to nine parks, will receive
$275 million in cash and a note receivable for $37 million for the parks
near Buffalo; Denver; Houston, Concord, Calif.; Seattle; and two parks
near Oklahoma City. With the latest divestment, Six Flags will have raised
$352 million in gross cash proceeds, including the June 2006 sale of land in
Houston, to pay down debt.

Six Flags Magic Mountain and the adjacent Hurricane Harbor water park
in Valencia, Calif., which were on the block, will be retained and open for
business in 2007, the company said.

PARC Management is buying the parks, selling them to real estate income
trust CNL Income Properties and leasing them back. PARC will operate the
parks. The transaction is expected to be completed in March.
Copyright 2007 Reuters Limited.

 

[CHAPPS]

Glad this isn't a problem we have to worry about.....

http://www.usatoday.com/money/industries/2007-01-11-six-flags-sale_x.htm

Six Flags selling seven parks for $312MUpdated 1/11/2007 11:23 AM ET
swapContent('firstHeader','applyHeader');

NEW YORK (Reuters) — Six Flags (SIX) said Thursday that it sold three
water parks and four theme parks for $312 million as part of its efforts to
reduce debt, sending its shares surging.

The amusement park operator has been reworking its business since a
shake-up of its board and top management after investor Daniel Snyder
won a long-running battle for control of the company in 2005. Six Flags
has since been focusing on families and improving its financial position.
Six Flags, which had planned to sell up to nine parks, will receive
$275 million in cash and a note receivable for $37 million for the parks
near Buffalo; Denver; Houston, Concord, Calif.; Seattle; and two parks
near Oklahoma City. With the latest divestment, Six Flags will have raised
$352 million in gross cash proceeds, including the June 2006 sale of land in
Houston, to pay down debt.

Six Flags Magic Mountain and the adjacent Hurricane Harbor water park
in Valencia, Calif., which were on the block, will be retained and open for
business in 2007, the company said.

PARC Management is buying the parks, selling them to real estate income
trust CNL Income Properties and leasing them back. PARC will operate the
parks. The transaction is expected to be completed in March.
Copyright 2007 Reuters Limited.

I think Disney should buy Six Flags. That way, the very second the sale becomes final, members on these boards will suddenly think everything Six Flags does is flawless and wonderfully themed. :lol: :lol:

 

[Iakona]

I think Disney should buy Six Flags. That way, the very second the sale becomes final, members on these boards will suddenly think everything Six Flags does is flawless and wonderfully themed. :lol: :lol:

Hilarious.:brick:

 

[JimboJones123]

So somebody bought 7 parks for the cost of 3 EE's. I know that Six Flags parks aren't the best, but does this this start making the $100 Mil for EE seem like overkill? Worth 2 Six Flags parks? Okay, get rid of the sarcsm. This is a real question.

 

[CHAPPS]

So somebody bought 7 parks for the cost of 3 EE's. I know that Six Flags parks aren't the best, but does this this start making the $100 Mil for EE seem like overkill? Worth 2 Six Flags parks? Okay, get rid of the sarcsm. This is a real question.

I, too, was very surprised at the relatively low selling price. A couple things to keep in mind though: Some of those 7 parks are water parks, which don't cost as much as a full-fledged theme park. Also, the price is affected by the performance of the company, which hasn't been great for Six Flags these past few years.

 

[WDWFanatic]

How much would you pay for a turd? The parks are horrble, the adventureword park here in maryland was bought by them, called six flags america, and all they did was add a few rollercoasters. The park has no flow whatsoever. I went once after AOL sent me free tickets and i have not been back.

The only reason i went to magic mountain is because i wanted to see where the grizwalds took their vacation. Saw it and never went back.

 

[JimboJones123]

How much would you pay for a turd? The parks are horrble, the adventureword park here in maryland was bought by them, called six flags america, and all they did was add a few rollercoasters. The park has no flow whatsoever. I went once after AOL sent me free tickets and i have not been back.

The only reason i went to magic mountain is because i wanted to see where the grizwalds took their vacation. Saw it and never went back.

Beware of the Flashback (not to be confused w/the boomerang) at MM. I have never been so sick. Viper rules though.

 

[Dwarful]

yes the six flags nera us wasn't one that was sold. However, for us its now a once a year event..because the kids earned free tickets for reading rewards. We very rarely go early and stay all day til closing because its just not that kind of park.

 

[WDWFanatic]

"We rode the Vapor Backwards"- Pauley Shore Encino Man :lol:

That was filmed there too oh and also the 1970s Rollercoaster

 

[WDWFanatic]

yes the six flags nera us wasn't one that was sold. However, for us its now a once a year event..because the kids earned free tickets for reading rewards. We very rarely go early and stay all day til closing because its just not that kind of park.

Hmm not that kind of park due to the idiot kids that jump in line, cussing and have no respect for others or their surroundings?? Thats one of the early reasons i heard six flags was having problems. Some kids need a goodslap in the head. Cough Cough -tigger help us out please- Cough Cough

 

[disneyrockz]

:sohappy: finally wyandot lake a local water park in Ohio isnt under crappy management:sohappy:​

 

[CHAPPS]

Hmm not that kind of park due to the idiot kids that jump in line, cussing and have no respect for others or their surroundings?? Thats one of the early reasons i heard six flags was having problems. Some kids need a goodslap in the head. Cough Cough -tigger help us out please- Cough Cough

This is why people always compare Everest to Six Flags in order to support their claim that Everest has "great themeing". Sure, anything has great themeing compared to Six Flags. They are an easy target. :lol:

 

[Vernonpush]

This is why people always compare Everest to Six Flags in order to support their claim that Everest has "great themeing". Sure, anything has great themeing compared to Six Flags. They are an easy target. :lol:

Any Disney bathroom has better themeing than a Six Flags Park. :lol:

 

[CHAPPS]

Any Disney bathroom has better themeing than a Six Flags Park. :lol:

:lol: :lol: :lol: Exactly!! That's why I laugh whenever people say Everest has "great themeing" and when I ask them to support that statement, all they can ever say is, "compare it to Six Flags". Not exactly what I'd call a strong argument. :lol: :lol: :lol:

 

[WDWFanatic]

I didnt mention themeing in six flags. I said flow. When i have to walk down a dead end path that is almost a quarter of a mile or more long to get to a rollercoaster thats just bad planning. There is no other way out. No other attractions to get to. Then you have to walk all the way back out. Nothing connects! I dont go to six flags for themeing. Its all steel and concrete most of the time. The only real attempt i saw at a theme was batman in six flags NJ where it went from city park to back alley trashy look with busted up police cars.

 

[JimboJones123]

:sohappy: finally wyandot lake a local water park in Ohio isnt under crappy management:sohappy:​

Any word on what they are doing with it? I heard the Zoo bought it and may level it....

 

[CHAPPS]

I didnt mention themeing in six flags. I said flow. When i have to walk down a dead end path that is almost a quarter of a mile or more long to get to a rollercoaster thats just bad planning. There is no other way out. No other attractions to get to. Then you have to walk all the way back out. Nothing connects! I dont go to six flags for themeing. Its all steel and concrete most of the time. The only real attempt i saw at a theme was batman in six flags NJ where it went from city park to back alley trashy look with busted up police cars.

That's similar to the Batman at Magic Mountain. Come to think of it, that themeing is much better than Everest!:lol:

 

[rdour@techminds]

The Six Flags Great America near me in the Chicagoland area is slowly making improvements. I really liked the fireworks they finally brought back to the park. They don't have the edge of Disney, but they've got a long way to go if they ever expect to catch up. It is unrealistic. The themeing could be a lot better, but the Southwest Territory really is well themed. No anamatronics, but some great buildings and scenery. The water park has reasonable theming, but not like a Disney park.

The other areas in the park have very loose themeing, and there is room for improvement. The best time of the year is Fright Fest though, they do a great job on the equiv. of the teacups. They are housed in a building that looks like a Spanish mission, and so they have the ability to block out the light from the outside. They install a great PA system, club lighting, and a ghost DJ. Imagine spinning around in a dark club atmosphere in a teacup, it actually is pretty cool.

Not everything they do sucks, but they could use more family oriented activities.

Ryan

 

[WDWFanatic]

i think the everest award and this thread are beginning to form into eachother.

 

[CHAPPS]

The Six Flags Great America near me in the Chicagoland area is slowly making improvements. I really liked the fireworks they finally brought back to the park. They don't have the edge of Disney, but they've got a long way to go if they ever expect to catch up. It is unrealistic. The themeing could be a lot better, but the Southwest Territory really is well themed. No anamatronics, but some great buildings and scenery. The water park has reasonable theming, but not like a Disney park.

The other areas in the park have very loose themeing, and there is room for improvement. The best time of the year is Fright Fest though, they do a great job on the equiv. of the teacups. They are housed in a building that looks like a Spanish mission, and so they have the ability to block out the light from the outside. They install a great PA system, club lighting, and a ghost DJ. Imagine spinning around in a dark club atmosphere in a teacup, it actually is pretty cool.

Not everything they do sucks, but they could use more family oriented activities.

Ryan

I went to this park during Fright Fest a few years ago and you're right. They really go all out!