Six Flags Kentucky Kingdom closing over lease issue
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Six Flags announced today that as it nears the scheduled end of its restructuring process, it has decided to reject its lease with the Kentucky State Fair Board relating to the Kentucky Kingdom park. In recent weeks, Six Flags had proposed a new lease arrangement to the fair board that would have enhanced the viability and future of the park. Unfortunately, those proposals were not accepted and the park will cease operations and the company will move expeditiously to re-locate employees and several of the more than 40 rides and attractions to one of its 13 other markets.
"We are deeply disappointed to be leaving such a great fan base in the greater metropolitan area of Louisville and we are grateful to the thousands of employees at Kentucky Kingdom and the millions of guests for their dedication, support and loyalty over the years," said Mark Shapiro, Six Flags President and CEO.
"This action relates solely to Kentucky Kingdom," Shapiro continued. "The substantial lease payment has been a significant hurdle for this park in recent years. Our other parks, which reside largely on company-owned land, will be completely unaffected and will open as scheduled for the full 2010 season."
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Remember that Six Flags didn't buy Kentucky Kingdom. Six Flags got bought by the company that owned Kentucky Kingdom.
This is a park that had a lot of strikes against it all along, and it never had the history or the success that Geauga Lake had before Six Flags ran that into the ground. Kentucky Kingdom got the Six Flags brand name in an effort to give the place a marketing boost. Ultimately even that didn't help the way they hoped.
Another interesting point: I did hear a rumor a few years ago that there was a plan to relocate Kentucky Kingdom to a location near the Speedway up IR-71, putting it outside Louisville and closer to Cincinnati, giving it a location analogous to Kings Island's relationship to Cincinnati. I wonder if there was any truth to that rumor, and if there was any truth to it, I wonder if the plan is still alive...
--Dave Althoff, Jr.
/X\ _ *** Respect rides. They do not respect you. ***
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Sounds like a great idea, but in this economy(and six flags current state) I doubt six flags would spring for that.
what you've just said is one of the most insanely idiotic things I have ever heard.
Everyone in this room is now dumber for having listened to it.
I award you no points, and may God have mercy on your soul.
Dammit, I love it when the Bard gets quoted around here! It gives me a glimmer of hope for the human race..... ;)
My author website: mgrantroberts.com
CreditWh0re said:
Take your millions of dollars of freezers, tables, chairs, and scoops, (that you were in debt up to your nipples for) and put them in the $90 a day shop. You can then market your $90 shop as new-er, improved, larger, more thrilling (and charming).In the end you'll earn a better return on your invested capital.
Not to mention the asset that can't be duplicated: personnel.
Hobbes: "What's the point of attaching a number to everything you do?"
Calvin: "If your numbers go up, it means you're having more fun."
RideMan said:
Another interesting point: I did hear a rumor a few years ago that there was a plan to relocate Kentucky Kingdom to a location near the Speedway up IR-71, putting it outside Louisville and closer to Cincinnati, giving it a location analogous to Kings Island's relationship to Cincinnati. I wonder if there was any truth to that rumor, and if there was any truth to it, I wonder if the plan is still alive...--Dave Althoff, Jr.
This rumor actually first originated back in 1999.. that was the year i got promoted to Team Leader and i remember working Tin Lizzies when i first heard the rumor. It also went a long with the rumor of Disney buying us amongst other good rumors.
:(
I know people are sad about losing Thunder Run. But trust me, when I last rode it in the summer of 2007, it was in such poor condition - the day of the drop incident in fact. I had NEVER seen a coaster train in worse condition (in operation, anyway). Whole padding panels were gone, everything was falling apart, screws/bolts were missing, and my lap bar popped up. And that was just the train... I haven't been on it since (it was stellar opening year).
After watching Zombieland, I had just been thinking how great a ferris wheel would look at Magic Mountain. I also think it would look great at Great America.
I especially think it would look incredible at Holidayworld - but not as incredible as a classic Anton Shuttle Loop ;)
I am a bit sad over this news. However, they had taken out a major coaster and the park really was not left with too much. I just hope that my friends that worked there seasonally can find other jobs this year.
I have a friend who I worked with at Cedar Point who said that Andy was his friend.
So I can vouch for it that Andy has at least one friend. ;)
(Kidding Andy is fun!)
-Travis
www.youtube.com/TSVisits
*Please let it be his shoe! Please let it be his shoe!*
"If passion drives you, let reason hold the reins." --- Benjamin Franklin
I guess all of the rides have to stay with the park. It is part of the lease agreement.
Read about it here....
"Six Flags has said it plans to "move expeditiously to re-locate several of the more than 40 rides and attractions to other markets.”
But we checked the lease which indicates that those rides are property of Kentucky."
How can that be?
I can't see how if six flags brought in rides, that they would just be handing them over the the state of kentucky.
what you've just said is one of the most insanely idiotic things I have ever heard.
Everyone in this room is now dumber for having listened to it.
I award you no points, and may God have mercy on your soul.
I agree, Crazy Horse...that just sounds like the state is trying to play hardball, but I just can't see that truly being the case.
It would be like a tenant hanging a picture on a wall and the building owner claiming ownership of it. Nothing in a park (other than the goods and staff) isn't bolted down.
--George H
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