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"Question:
You've just announced a new theme park deal in Qatar. Tell us about it.
Answer:
We're currently in the planning stages for the exact definition of what it will ultimately be. What we do know is the park itself will sit on 500,000 square feet and will open in 2012. But there's a great potential for a full-swing, five-star resort complex to be built under the Six Flags umbrella, which could include a hotel-spa property right on the shores of the Arabian Gulf, connecting to a massive shopping mall and to the theme park or water park itself.
Q:
Last spring, you struck a deal for a Six Flags park in Dubai. What do these two together signal for the company's growth strategies?
A:
You're going to see a lot more of this. What they signal is the re-emergence of the Six Flags brand and our entertainment offering. Six Flags has been in business 47 years, and it struggled for several years under a great deal of debt. The current management team took over three years ago. We've invested a lot of money and rebuilt the company from the ground up. We're now completing the third year of the turnaround, which just happens to be the most successful year in the history of the company. We've achieved free cash-flow positive for the first time ever. Our customer satisfaction scores, from soup to nuts, are the highest they've ever been, and people are coming back to Six Flags. It's only natural that extending our footprint internationally is the next step. What you'll see is more international announcements in the next 12 months.
Q:
There have always been rumors, every couple of years, that Six Flags might have some interest in putting its flag in Florida. Is there any interest or prospects?
A:
Very much interested in doing something like that, but at this time there are no current plans to do that, and no prospects. We're truly focused on continuing to upgrade and improve our 20 North American properties and to launch new international properties."
Overall Shapiro say's how the company is finnaly satisfying customers. He also says how there will be little to no more outrageous investments in large roller coasters such as Kingda Ka. Stating, "there's just no return on investment, and all that does is get you in trouble from an operating-health standpoint...that war is over." He states that the park went into a teen age during the 90's, and they are changing this nowadays into a family oriented park with shows, rides for the families, and still rides for the thrillseekers. Shaprio also says to expect "more international announcements in the next 12 months."
The whole conversation with Shapiro and Scott Powers can be seen at the Orlando Sentenial by clicking here.
