Six Flags purchases Sea World of Ohio for $110 million

Posted Wednesday, January 10, 2001 2:43 PM | Contributed by Jeff

In a move that has the Cleveland area buzzing, Six Flags, Inc., today announced the purchase of Sea World of Ohio, located adjacent to its own Six Flags Ohio. The announcement comes only a week after the park announced the construction of a Vekoma Flying Dutchman called X-Flight.

Read more about the details of the sale from PR Newswire.

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Wednesday, January 10, 2001 2:46 PM
Hopefully, SF will find a way to combine the two parks.
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Wednesday, January 10, 2001 2:50 PM
When will the insanity end?
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Wednesday, January 10, 2001 2:51 PM
Sweeeeeeeeet!!!!!!!!!!!!!!!!!!!!!!I new it would Happen!!Cant wait to see whats going to happen!!!
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Wednesday, January 10, 2001 2:54 PM
What are they thinking? Wow... I really don't get this. My guess is that consolidation of the two parks makes sense because of the competitive landscape. With two other seriously big deal parks in the state, it sure would seem easier to compete as a bigger attraction.

However, if they do at any time offer one admission to both parks, how could they possibly afford to run them both?

I really don't think I would want to own PKS stock right now. This spending is out of control considering the volatility of the economy right now. If things really turn for the worse, being in the amusement business with pressure to pay off debt is not somewhere I'd want to be.

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Jeff
Webmaster/Admin - CoasterBuzz.com
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Wednesday, January 10, 2001 3:02 PM
Six flags company owns Six Flags Ohio and i wouldnt doubt it if they have more money with them!
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Wednesday, January 10, 2001 3:08 PM

I just want to say, I knew this would happen! I saw alot of people on this site say it never will... Guess again!:jumping with excitement: Ohio is the place to be for enthusiasts.

I wouldn't be suprised if my home park takes the place of SFMM as the star of the SF company! We'll see!

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Villain-Once You Drop, The Fun Don't Stop!

SFO Rules In 2001

X Marks The Spot In 2001(SFO)
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Wednesday, January 10, 2001 3:09 PM
Man, I'd like to know how much properties six flags Inc. has bought in the last 3-4 years!? This will hopefully bring more coasters to Ohio.

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Millennium Force all the way!
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Wednesday, January 10, 2001 3:09 PM
DUDE! Six Flags Rocks,and they are starting to show everyone how competetive they can be!!
Cedar Point better watch out! I know they're gettin scared! SO are all the CP lovers!!
GO Jack Bateman! (Six Flags Ohio VP and General Manager)
In a matter of years Six Flags can easily catch up to CP's "Rollercoaster Capital of the world status" But they aren't anyway, SFMM is!!
I think it's great Six Flags is running the Amusement industry!
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Wednesday, January 10, 2001 3:10 PM
DARN ALL YOU PEOPLE WHO DOUBTED ME! I've been saying this all along but everyone thought I was insane! Now who's laughing?

Anyway, I can't wait to see how they will incorperate the two parks. Let's just say I hope they incorperate the two parks. Anyone know how big SWO is? Imagine the possibilities of expansion! I'm really excited.

BTW, I guess this show Six Flags really likes SFO.

40 million last year,
110 today,
another 10 million plus for X-Flight

160 Million in two years. INSANE!
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Wednesday, January 10, 2001 3:12 PM
It will probably be aimed more to a set of parks sort of like disney does in orlando and probably out west when DCA opens. Sort of the same way that
universal operates IOA and universal studios florida.

Even though i do not think that the announcement of x-flight had CP worrying in drop in attendance. This could be alot different. I could not imagine SF buying SWO for just the land they have to be planning to operate as another one of their animal parks. Or do they plan to turn the whole thing into Six Flags Marine World Ohio.

But on another point I am glad to hear that SWO was sold for 110 million. I mean take these two things into perspective Sea World Florida announces that they are raising ticket prices to $50 and then they rake in 110 million by selling the ohio park. What does Busch have up there sleeves? I wouldn't think That Busch as a company is having any problems. I just hope that this is the only park they sell to SF. But then again maybe there will be a SF in Florida.

One More Question?
Did Six Flags get Drachen Fire in the Deal?
LOL





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#1 Steel-Incredible Hulk
#1 Wood--Timber Wolf
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Wednesday, January 10, 2001 3:13 PM
All I can say is i'm STUNNED! I was caught totally off guard and I though that this would never happen in a million years. Once again Six Flags has stunned me. It's going to be a good year for coaster enthusiasts.

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I'd explain it to you, but your brain would explode.
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Wednesday, January 10, 2001 3:19 PM
What a poor corporate decision, waste of cash and lack of responsibility to the company's investors. May they die a slow death and perhaps learn from their second adventure into irresponsible growth. They didn't the first time which is why they were sold to premier parks in the first place. They must have held on to the same Board of Directors. If you own the stock, sell now, they're sure to be downgraded in the near future.

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Oh my freekin' head!
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Wednesday, January 10, 2001 3:21 PM
Boy SFO has really propped itself up in the news the past few weeks, not just SFO but SF in general! Can't wait to see what lies ahead! Maybe a hyper named Swamp Thing?! SFO's future is looking bright!

Also, how are the other MarineWorld parks set up? SFO will probably be the same way!

SFO will now have Coasters, Waterpark, Marine Park, and maybe not too soon off a hotel. This will truly be a one of a kind resort! I can't wait to get my SP for this year!

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Villain-Once You Drop, The Fun Don't Stop!

SFO Rules In 2001

X Marks The Spot In 2001(SFO)
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Wednesday, January 10, 2001 3:21 PM
Montu
Jeff was saying that PKS aka-Six Flags is in debt and they are spending a lot of money this year. I do hope that it pays off for them.

Sky Boss
Why would you want them to fail. You be able to predict what will happen but why would you want any amusement company to not be prospurous. I mean if six flags fails at their attempts in expanding all their parks will be hurt and if six flags went under it would hurt the entire amusement buisness.

I wouldn't get your hopes for them to add any coasters soon this may just be operated as a seperate animal park like Great Adventure operates in New Jersey. Another Way for Six Flags to get people away from Paramount, CF, and Kennywood. I wouldn't be surprised if in the next few years you see six flags build a few hotels there and operate the two parks as a resort.

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#1 Steel-Incredible Hulk
#1 Wood--Timber Wolf *** This post was edited by T-Wolf on 1/10/2001. ***
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Wednesday, January 10, 2001 3:22 PM
According to an article on Yahoo, Six Flags Ohio is 520 acres, and Sea World Ohio is another 232 acres. 752 acres is a BIG plot of land -- how large are the other Ohio parks?

I suspect that at least initially, the resulting "park" will be similar to Great Adventure -- several separate areas operating as a Six Flags "complex".

Still waiting to see what happens with my SWO season pass. Unofficial word from another Seaworld park (because they were still open ;) ) is that the Busch parks will still honor it.

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--Greg

http://www.pobox.com/~gregleg/
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Wednesday, January 10, 2001 3:24 PM
SKYBOSS- See, people like you and George Dubbya try to scare people! If things are goin fine, ehy try to scare people to selling stock?!
Help all of the amusement industry, and support them in their growth!

[hostile comments removed... you're treading on very thin ice my friend. personal attacks on any member are not permitted here.-j] *** This post was edited by Jeff on 1/11/2001. ***
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Wednesday, January 10, 2001 3:27 PM
First of all the only scaring was by Gore. Second, Jeff hates politics, so don't drag them in here. Third. I do invest heavily in stocks most of which is in Airlines, Comm, Disney and Cedar Fair. I just sold off PKS and if you knew anything about the market, you would know that this stock will drop huge tomorrow. See American Airlines after their buyout of TWA. Investors don't like companies that grow too fast. It's a sure sign of poor management. [keep it clean or you're history.-j]
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Oh my freekin' head!


*** This post was edited by Skyboss on 1/10/2001. ***
*** This post was edited by Jeff on 1/11/2001. ***
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Wednesday, January 10, 2001 3:27 PM
Jeff said:

"What are they thinking? Wow... I really don't get this."

Actually this was bound to happen Jeff- it was only a matter of time. SWO had already been canvassing Ohio to relocate its operation- now it seems they may have found it much more economically sound just to split altogether.

SFO has been growing at such an incredible rate that the writing on the wall for this purchase had become engraved into the fabric of the SF's plan for Geauga Lake to begin with.

SWO had placed NO permanent attraction into its park since Premier bought out Funtime- that right there was a key to the fact that SWO would NOT be able to renew the lease owned by Funtime previously for specific and park-necessary land.

The whole stipulation of SWO not being able to put any sort of ride attraction within its borders was simply a symptom of the deal itself- which in no WAY was going to be renewed by Six Flags anyway. You think Premier just bought up GL's property without any further shot at taking over Sea World's property?

They knew the whole time and were in control of the situation since 96'.

Like I said, only a matter of time.

Maybe that's why some of the CP marketting personel are finally starting to get their feathers ruffled. They knew as well that something big was going to be growing right down the street and over a matter of years it would become a threat to every title they currently own.

The fact that CP has so oddly handled first the SFMM announcement (btw I agree with their beef but was still surprised to see them react in such a way) and then immediately after proclaim:

"Oh, um, we're not worried in the least bit no..."

... after the announcement of X-Flight tells me they've been thinking along these lines the whole time.

When you actually come out into the PRESS and ANNOUNCE the fact that 'you are not nervous'- you bet yer clams you are.

I'm betting that CP knew this news was coming down the pike as well and was rather dreading the day they'd have to look at the former GL in the same light and on the same plateau as themselves.

Three years ago such a claim would have been held as heresy in the coaster world.

Now it's looking like it's the truth.

Now, if SFO could only figure out a way to draw folks from the Cleveland area I bet they'd be even happier :)

With the new room (now a total of around 750 or so acres) and all the money they have access to- this decision was no mystery at all and should not be a surprise to those who know (or claim to) the park.

It's timing however certainly is a shocker. I had no idea it would happen this quickly. I was thinking 2003 at the earliest.

ALL of this points to one key point (pardon pun)-

CEDAR POINT VERY WELL may have reacted the way they have in the passed two weeks because they know damn well what's coming up strong in the rear view mirror.

And, personally, I dig it.

Chip
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Wednesday, January 10, 2001 3:32 PM

I wonder if each park will be considered a seperate park...
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Ride with full FORCE
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