Six Flags finishes year with $598.9 million profit

Posted Tuesday, February 22, 2011 12:12 PM | Contributed by Jeff

A 19 percent attendance boost and reduced losses from discontinued operations helped Six Flags Entertainment Corp. narrow its fourth-quarter loss, the theme park company said Tuesday. For the full year, the company swung to a $598.9 million profit from a $229.2 million previous-year loss. Revenue grew $77 million, or 9 percent, to $976 million, and income from continuing operations rose.

Read more from The Dallas Morning News.

Tuesday, February 22, 2011 12:33 PM

If we ranted about Cedar Fair's dropping percaps and what they meant, can we rave about SF's rising percaps and what they mean?

Attendance grew 4% and those people spent 4% more this year. That's a good report.

Now they just need to build a hotel in New Jersey. Or Maverick.

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Tuesday, February 22, 2011 12:59 PM

Man, I wish they would build a Maverick in Jersey. I already love that park for the collection they have.

But they really need flats.

Anywho, I think the last regime got the company going really well, and the new new guys seem to know what they're doing. I can't believe how the tables have turned. People are talking crap about CFEC and talking good about SFI.

Who'd have thunk 10 years ago that Six Flags would be doing well?

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Tuesday, February 22, 2011 1:28 PM

As much as I'm not a fan of Dan Snyder, I'm glad he took the initiative to fix a failing company. I just wish he'd use the same approach with the Redskins (completely hands-off).

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Tuesday, February 22, 2011 2:30 PM

Vater, for most owners, teams are toys, not businesses.

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Tuesday, February 22, 2011 4:52 PM

Perhaps, but doesn't Snyder have the most profitable franchise?

I really do think that the Shapiro crew deserves a ton of credit. Ultimately what sucked about it was that they really got in too late, and Snyder made a bad investment. Had he made the same play a few years earlier, it may have turned out different and maybe they could have even avoided the bankruptcy.

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Tuesday, February 22, 2011 5:15 PM

I think it is Dallas. Washington is probably up there though. The new stadiums are huge revenue generator.

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Tuesday, February 22, 2011 10:30 PM

Washington is second to Dallas for most profitable NFL team (I believe Dallas surpassed Washington a few years ago). They are also the 2nd and 4th most profitable professional sports teams in the world, respectively.

And, not ironically, Snyder seemingly wants to be Jerry Jones in many ways; however, having a winning team is not something they have in common yet.

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Wednesday, February 23, 2011 9:46 AM

Good for them for making a little money. I just hope that a little success doesn't start another tailspin.

The Redskins are indeed one of the NFL's most profitable teams. He does it with them by charging exorbitant amounts of money for everything. (sound familiar?) Parking, food, beer, merch...all of that. Not that the rest of the NFL doesn't, but he's particularly bad with it.

That's all well and good for business and profit...but have you seen the product on the field lately? It's a dumpster fire. They have one of the highest payrolls in the league and one of the worst records. Makes me wonder about where Six Flags is really headed, because quality of product doesn't seem to be high on Snyder's priority list in other ventures. Quality of product (along with money mismanagement) is what nearly killed Six Flags the last time. I guess time will tell.

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Wednesday, February 23, 2011 12:22 PM

Well it doesn't really matter, because Snyder has nothing to do with Six Flags anymore.

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Wednesday, February 23, 2011 1:00 PM

Quality of product was an issue, but what killed Six Flags the last time was the fact that they spent tons of money that they didn't have buidling and buying. Of course, suck product didn't help, but I think it was more of a symptom and not really the cause.

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Wednesday, February 23, 2011 10:31 PM

Yeah, the overspending was the big bullet. It was a direct cause of diminishing quality.

Dan Snyder is out that's true...replaced by a guy from the health care industry. I'll repeat that..the health care industry. Suffice to say that my concerns aren't changing. Hopefully I'm proven wrong.

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Thursday, February 24, 2011 1:16 AM

Are you talking about the CEO? Snyder was never CEO, he was just a significant investor who managed to get control of the board.

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Thursday, February 24, 2011 9:26 AM

We rag on Kinzel because he's too involved with everything at every park. It appears Reid-Anderson doesn't know where the parks are or where his company is head quartered.

http://www.kansascity.com/2011/02/23/2677888/youd-think-ceo-would-know-where.html

Discuss.

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Thursday, February 24, 2011 9:38 AM

Arlington and Grand Prairie are close enough to Dallas, the more well-known city in that area, to let that slide. Non-issue, in my opinion. It's like saying the Redskins play in DC. Technically, they play in Largo, MD, but who really gives a crap?

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Thursday, February 24, 2011 11:06 AM

Yeah, most businesses will refer to the largest city near them for reference. Many New York-based businesses are in New Jersey. Most people would tell you Kennywood is in Pittsburgh.

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Thursday, February 24, 2011 11:54 AM

That's like Charlotte Motor Speedway and Charlotte's Verizon Amphitheater, both of which are located in Concord. Not even the same County. Same with Carowinds which isn't in Charlotte either.

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Thursday, February 24, 2011 1:09 PM

To say nothing of the fact that the NEW YORK Giants and the NEW YORK Jets play, train, and (mostly) live in NEW JERSEY.

But hey, NEW YORK is getting a Super Bowl in three years. If that's true, they better play it in BUFFALO...

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Thursday, February 24, 2011 3:23 PM

^It's OK, the New Jersey Nets are moving to NYC, so it probably works out in the end... ;)

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Friday, February 25, 2011 4:18 AM

kpjb said:
Yeah, most businesses will refer to the largest city near them for reference.

Or in Cedar Point's case, you have both Toledo and Cleveland claiming the park is located in their city. Not quite the same thing, but similar enough.

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