For those of you that wonder why SFOG has been getting so many attractions lately should know it's because SF is obligated to. Six Flags, Inc. owns lots of parks outright, but only own a certain percentage of SFOT and SFOG. Read the following excerpt from their Annual report.
"As more fully described in "Business Six Flags Over Georgia and Six Flags White Water Atlanta" and " Six Flags Over Texas and Six Flags Hurricane Harbor," in connection with our 1998 acquisition of the former Six Flags, we guaranteed certain obligations relating to Six Flags Over Georgia and Six Flags Over Texas. These obligations continue until 2026, in the case of the Georgia park and 2027, in the case of the Texas park. Among such obligations are (i) minimum annual distributions (including rent) of approximately $51.0 million in 2002 (subject to cost of living adjustments in subsequent years) to partners in these two Partnerships Parks (of which we will be entitled to receive in 2002 approximately $16.1 million based on our present ownership of 25.3% of the Georgia partnership and 35.7% of the Texas partnership), (ii) minimum capital expenditures at each park during rolling five-year periods based generally on 6% of park revenues, and (iii) an annual offer to purchase a maximum number of 5% per year (accumulating to the extent not purchased in any given year) of limited partnership units at specified prices.
Did you see that line about minimum capital expenditures? Well, it seems that if these parks continue to make money, they will continue to receive new attractions. And they are obligated for those attractions until 2026 for SFOT and 2027 for SFOG.
What does this mean? Visit those parks and they will continue to grow!
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*** This post was edited by BATWING FAN SFA on 3/29/2002. ***
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2002 - the year of IB's LoCoSuMo!!
Thank goodness Mamoosh.
Another roller coaster is the last thing SFOT needs for a while, we can ride the wave of Titan for at least another year if we have to :)
What we really need (BADLY!) are Flat Rides. Argh! :)
..and of course a new Film in our Turboride Theater..Space Shuttle America is NOT gunna cut it. But hey, at least I get my Mr. Freeze the way it always needed to be :)
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Titan Laps: 195
2002 SFOT Visits: 7
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2002 - the year of IB's LoCoSuMo!!
Question for those who play amusement park stocks:
How many shares/units must one purchase to get on the mailing list for their annual reports and other shareholder mailings?
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David Bowers
Mayor, Coasterville
Coasterville Dave said:
Question for those who play amusement park stocks:
How many shares/units must one purchase to get on the mailing list for their annual reports and other shareholder mailings?
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David Bowers
Mayor, Coasterville
Pretty much anyone can request an annual report from either Six Flags, Inc. or Cedair Fair. Go to their websites, and look for an investors page. There you can request annual reports. I requested a Cedar Fair annual report and received it in less than 10 days.
*** This post was edited by edh101985 on 3/29/2002. ***
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SFNE drops the "floor" on SFNE for 2002! Visit my new site, www.geocities.com/sfneguide for some great pics of SFNE and lots of other info.!!!
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02 parks: SFFT, SWSA, VL, and SFOG!
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