Six Flags to sell 6 more parks.

Looks like it:

http://biz.yahoo.com/ap/060622/six_flags_parks.html?.v=1


Six Flags Darien Lake
Six Flags Waterworld
Six Flags Elitch Gardens
Wild Waves and Enchanted Village
Six Flags Splashtown
Six Flags Magic Mountain


Wow, there selling SFMM. Didn't see that coming.

they need to sell Six Flags America [approve] But I guess there selling them just so they can make the other ones better. But i am suprised bout SFMM esspically when the jus got tatsu and all.

sfmm?! wow, that's...unbelievable!! especially with all the recent improvements they were aspiring to achieve in 2007.

I am also surprised. I mean, SFMM is one of SFI's big boy parks.

Originally posted by CoAsTeRkRazY

they need to sell Six Flags America [approve] But I guess there selling them just so they can make the other ones better.

why does everyone hate SFA so much??? it's not a bad park!

So, to who would these parks be going to?

There's absolutely no straight out "thing", whatever it may be, that say's these parks are going to be sold. There just might be big changes in the future for these parks.

SFDL.........who would have guessed??[lol]

i was watching tv and on the promo for the news they said something about "no more magic mountain? stay tuned to find out why this may be"

i was shocked

and then i read this

and i almost poop in my pants

[jayman]

????? wait .. magic mountain? that's wierd..who'd buy magic mountain?.. i'm gonna start playing the lotto.. win and buy it .... "jay mountain".. ooo h i like the soud of that.. i promise you, if that happens the otsrs are coming off of revolution and i'm butting the double don and ptcs back on collossus. anyone got any good numbers i should play?

nope

but if you win, let WWS members get in free

[Dirk_Ermen]

Again the same story as with the european parks:

Six flags builds quickly some huge project. After they have payed for it, they notice they have to pay more. But because of the huge project. They ran out of money, And they have to sell some parks... I don't know why they are building when they are everytime in finacial problems. If your having finacial problems. Don't spend money...

Woahhh, This is great news for me. SFI wasnt planning on putting another coaster into magic mountain for like 3-5 years after tatsu. If we end up with some good new management this could be a great improvement![;)]

dang that sucks

[hyyyper]

hmmm...selling your best park with the most coasters? i've seen smarter moves


EDIT: Cedar Fair, now's your chance

the only reason I can see for them wanting to get rid of SFMM is that a high thrill park with a lot of coasters doesn't fit in well with the new "family" direction the new managment team is taking the parks in. I don't think the new ceo,( I can't remember his name, I think it's a Mr. Headup Bum), would know how to maintain a park like that. I wouldn't mind seeing them sell my home park SFGAM because in the last 6 years that park has become a major dissapointment. A new waterpark, 3 clone coasters, and a new staff of costumed characters wasn't enough to get me to re-new my season pass this year.

Originally posted by Spongemonkey74

the only reason I can see for them wanting to get rid of SFMM is that a high thrill park with a lot of coasters doesn't fit in well with the new "family" direction the new managment team is taking the parks in. I don't think the new ceo,( I can't remember his name, I think it's a Mr. Headup Bum), would know how to maintain a park like that. I wouldn't mind seeing them sell my home park SFGAM because in the last 6 years that park has become a major dissapointment. A new waterpark, 3 clone coasters, and a new staff of costumed characters wasn't enough to get me to re-new my season pass this year.

If what you say is true that means goodbye SFGAdv because that doesn't fit well with the family feel. It hast some of the world's tallest fastest coasters (tallest and fastest too) and some of the most intensive air on any coaster. I just hope they don't sell it (my home park). If they do PLEASE SELL TO CEDAR FAIR!

Sell Magic Mountain as an underperforming park? It's either a typo or the beginning of the end for the Shapiro era. All MM would provide would be a huge influx of money to pay off more bills. In the long term it would be a huge mistake to sell of a large revenue generating park like MM.

Six Flags demise would be caused by trying to emulate Disney, and subesquently alienating all of the thrill based fans that Six Flags has always had.

This really is sad news.[flush]

Originally posted by Spongemonkey74

the only reason I can see for them wanting to get rid of SFMM is that a high thrill park with a lot of coasters doesn't fit in well with the new "family" direction the new managment team is taking the parks in. I don't think the new ceo,( I can't remember his name, I think it's a Mr. Headup Bum), would know how to maintain a park like that. I wouldn't mind seeing them sell my home park SFGAM because in the last 6 years that park has become a major dissapointment. A new waterpark, 3 clone coasters, and a new staff of costumed characters wasn't enough to get me to re-new my season pass this year.

your right about the family thing. this was in the LAtimes

Six Flags May Sell Its Magic Mountain Park
The Valencia site, one of six properties that the company may divest, could be dismantled.
By Jerry Hirsch, Times Staff Writer
June 23, 2006


Six Flags Inc. said Thursday that it might sell its Magic Mountain and Hurricane Harbor amusement parks in Valencia and raised the possibility that they could be dismantled for real estate development.

Facing mounting losses and declining attendance, Six Flags wants to reduce its $2.1 billion in debt by selling parks in Buffalo, N.Y.; Denver; Seattle; Houston; and Concord, Calif., in addition to Magic Mountain.

Shapiro, a former ESPN executive who is now Six Flags' chief executive, said in a conference call with investors Thursday that Magic Mountain was considered a candidate for sale partly because of its often rowdy teenage atmosphere.

After a proxy battle last year that saw Washington Redskins owner Dan Snyder win control of Six Flags and install new managers, the New York company is changing its thrill-ride focus to family entertainment.

Unruly behavior by the teens, who gravitate to the giant dips and turns of Magic Mountain's 17 roller coasters, have driven families away from the theme park, Shapiro said.

"Once you burn Mom, she is not rushing back," Shapiro said.

Throughout Six Flags' 30 amusement and water parks, Shapiro said he wanted to reduce the company's reliance on "teens that drive our security problems ????????? who loiter in the park, hate my no-smoking policy and don't spend money."

Though Six Flags could invest in Magic Mountain to transform it into a family-style park, Shapiro noted that the Southern California market was already crowded with family attractions, including Walt Disney Co.'s two parks in Anaheim, Knott's Berry Farm in Buena Park and Universal Studios Hollywood.

In evaluating which parks to sell, Shapiro also looked at whether they were on valuable real estate. Shapiro said the sales would have to garner more than $500 million to be worthwhile.

Buildable parcels in Valencia sell for $750,000 to $1 million an acre, said Michael Adler, president of Adler Realty Investments Inc. in Woodland Hills.

The potential for converting the 250-acre parcel into homes and retail centers would have developers "lining up to bid," Adler said.

"This would be a great opportunity for a mixed-use development," said Adler, who has a 150-home development underway in Valencia.

"I would be a bidder."

The property could be worth $200 million or more, depending on whether it continues as an amusement complex or is redeveloped, according to theme park and real estate executives.

Shapiro said the property could also remain a theme park. He said another operator might be more comfortable with Magic Mountain's thrill-ride niche and the teenage behavior that comes with it.

Magic Mountain attracts 2.5 million to 3 million guests a year and is considered a profitable property, said John Cora, a theme park consultant and CEO of Palace Entertainment, which owns Raging Waters in San Dimas and the Boomer's chain of family entertainment centers.

"With a little TLC and investment, it would be a great park and a great revenue producer," Cora said.

Potential bidders could include private equity investors such as Blackstone Group, which owns the four Legoland properties and has a stake in the Universal Studios theme parks, Cora said.

But coaster enthusiast Eric Gieszl of Tustin doubted that another operator could compete with the real estate bidders.

"They would have to pay too much and would never recoup their investment," said Gieszl, who operates the website Ultimate Rollercoaster.com. "This looks like a loss for L.A. coaster fans."

[Oscar]

news media is running wild on this new shere, I have surfed all the morning news channel and all have said something about it with all of them saying the figure would be $300 million... man do I wish I had won the Mega Millions jackpot a few months ago of $350M

[coolbeans326]

SFMM is not getting sold. I think its just the area around the park. Mark Shapiro or Dan Snyder (one of them) had said earlier this year or late last year that one thing they wanted to do was sell some of that excess land. ANd SFMM has ALOT of excess land that stretches behind the hill and infront of it. But I do hop that they keep some land for future expansions.
Plus if they were just going to sell it in a years time anyways, why would they continue building tatsu[;)]

yea that makes a lot more sense.

Originally posted by coolbeans326
Plus if they were just going to sell it in a years time anyways, why would they continue building tatsu[;)]

Both Tatsu, the two Golioths and El Toro were under contract for construction. That is pretty much the ONLY reason Shapiro didn't cancel them. I have no doubt whatsoever that if he could have he would have canceled the rides. Wtach how many new coasters Six Flags builds in the next fews years to show what Shapiro's real intentions are.

With this pure family business approach, Six Flags will fail. It's like changing Burger King to a vegan fast food joint. No one will go there any more and Vegans wan't be able to ever associate Burger king with anything but burgers.

Shapiro is trying to reinvent the wheel and he will alientate Six Flags core business in his attempt to do so. While at first I had some hope for Sic Flags, I must admit the Shapiro's direction and the obvious early failure of his plan has really in effect killed any hope I once had.

We can only hope he realizes his mistake before it's too late.

Cedar fair should buy those parks but after purchasing the paramount parks i don't think they will.

[hyyyper]

well, i'm pretty sure there are enough banks to lend them money, because themeparks are a pretty solid investment