Mt. Olympus owners acquire five neighboring properties

Posted Tuesday, March 27, 2007 10:53 AM | Contributed by Jeff

Upgrades have already started for five newly acquired properties to be renamed and incorporated into Mt. Olympus. On March 15, Nick and Eva Laskaris, now the sole proprietors of Mt. Olympus, purchased three adjacent lodging properties and two major attractions to create the largest entertainment resort complex in the Wisconsin Dells. The purchase included Treasure Island, the Captain's Quarters, Pleasant View Motel, The Bay of Dreams Indoor Waterpark and the former Family Land Outdoor Waterpark properties. With the acquisition from the Mattei family, Mt. Olympus adds over 356 guest rooms, 30 vacation units and an additional 60 acres of real estate to Mt. Olympus, bringing the total acreage to over 156 acres. This includes over 1 1/2 miles of frontage on the famous Wisconsin Dells Parkway (Hwy 12).

Read more from Milwaukee Business Journal.

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Tuesday, March 27, 2007 11:03 AM
err.... I thought this happened a few years ago???

The link doesn't work for more info - is the story now that they are the only owners?

-Chris

Aha... found a link! That is what happened, they are now sole owners, not a partnership... http://milwaukee.bizjournals.com/milwaukee/stories/2007/03/26/daily3.html*** This post was edited by Isca 3/27/2007 11:05:45 AM ***

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Tuesday, March 27, 2007 11:11 AM
As far as Joe Sixpack knew, they were the same resort.

But in completely unrelated news? Pinkish foam futures just shot up an amazing 17000 perecnt!

-'Playa

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Tuesday, March 27, 2007 1:15 PM
So they just took soul ownership of the former partnership or did they get anything new?
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Tuesday, March 27, 2007 2:55 PM
I breifly talked to Nick when visiting a few years back, shortly after he took over his father's business. This news is not at all surprizing considering Nick was looking beyond the competition with Noah's Ark. He made it clear Mt. Olympus was just getting started with much more to come. This is a park to watch.
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Tuesday, March 27, 2007 5:50 PM
I went to this park back in the day when it was Big Chief Go Karts (about 5 years ago) and it was like $40 a person for an all day pass. The price for a Summer all day unlimited ticket is now $33 and they offer it online for $28. Now they have a LOT more available for everyone. Plus they do not charge for parking, which is common in the Dells. It will be interesting to see what they do in the future for this park with all the land they own. I believe they have lots of potential.
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Tuesday, March 27, 2007 6:49 PM
I believe this is an announcement of sole ownership plus the addition of Treasure Island, the Captain's Quarters, and Pleasant View Motel. The other two I believe was part of the expansion a few years back with the single gate admission.

I think its great they keep moving forward and are starting to make themselves the must visit place of the dells. I do worry on the other hand that they are expanding too quickly which is a quick path to failure as we have seen time and time again in the amusement business, as well as everywhere else in the business world. They already had a lot of room for growth at the current parks in terms of land and upgrades. Not to mention the overall guest service and park friendliness can't be found on property.

Best of luck to the Mt. Olympus group. Just remember to keep your eye on the small things that make the big picture, and not just on the future.

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Wednesday, March 28, 2007 3:28 AM
I can't wait until Nick adds the new record breaking woodie!! A few years ago he said in an interview that he plans to top Hades and I think he wants to top the world's greatest ride (Voyage) too from what I've heard! :)
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Wednesday, March 28, 2007 9:17 AM
A record-breaking WOODIE?!?!?!?!?

Oh, for crying out loud. I hope not!

But I'd love to see him order a nice lil' Gerstlauer steelie with say, the most inversions in North America. Wouldn't be out of his reach. Or mine...

-'Playa

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Wednesday, March 28, 2007 8:42 PM
Considering their spinny mice start at 8 million. Thats a Stretch Playa.

Chuck, who could see a looper like Lagoon is getting or something but nothing record breaking in the looping catagory. that would be well over 15 mill to even think about.

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Thursday, March 29, 2007 12:01 AM
Spinning Dragons is listed on rcdb at 4M....that's more in line with what I was expecting. Might be closer to 5M now...accounting for general inflation plus the increased cost of steel.

Coincidentally (or not), that's about as good as you're gonna do on a woodie these days too...

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Thursday, March 29, 2007 10:03 AM
Considering their 2005 cap ex budget was $10 million (Hades and Triton)...maybe it isn't.

-'Playa

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