Posted Tuesday, April 15, 2008 1:20 PM | Contributed by Jeff
Six Flags, Inc., the world's largest regional theme park company, announced today it has entered into a one-year, multi-million dollar exclusivity agreement with Gulf Finance House B.S.C., a publicly traded Islamic Investment Bank in the Kingdom of Bahrain. Under the agreement, Gulf Finance will pay for the exclusive right to license the Six Flags brand and related intellectual property for theme park development in the People's Republic of China. Additionally, the two parties may collaborate on the future construction of a Six Flags-themed luxury resort. The deal was unveiled today by Six Flags President and CEO Mark Shapiro and Gulf Finance House Acting CEO Peter Panayiotou.
Read the press release on PR Newswire.
One-year? Is that just in place to help find more backers? Seems strange.
Seriously though, Dubai, now this. SF just might start digging themselves out of doubt with all these international licensing agreements....
It sounds like all that is really happening is this company is making sure that Six Flags isn't in talks with other developers for parks that may want to use the Six Flags name. Basically, Six Flags is getting a bunch of money to stay out of talks.
I guess Shapiro was right when he said that the overseas stuff was "hot and heavy" if this company is dishing out the cash to keep the Six Flags option for just one year. Very interesting. People can say what they want about the Six Flags brand, but if anything is for sure its that Shapiro has definitely found some smart was to get this thing turning around financially.
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