Six Flags says it will keep Magic Mountain rolling

Posted Wednesday, December 13, 2006 7:04 PM | Contributed by Rowtyd

Magic Mountain will remain a theme park — not converted into a housing development or retail complex — if Six Flags Inc. Chief Executive Mark Shapiro has anything to do with it. Shapiro told investors Tuesday that the company expected to decide by the end of the year whether it would sell Magic Mountain and several other properties to reduce its $2.2-billion debt. He said all the parks would keep operating for the foreseeable future and wouldn't be sold for their real estate value.

Read more from The LA Times.

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Wednesday, December 13, 2006 7:22 PM
all I can say is thank goodness. Magic Mountain pulls in 3 million a year if I remember correctly which has to be some major money for the chain. Magic Mountain has its problems, however so does the chain. A new GM and some more training could definately turn this park around and go a long way towards making the park so much better. They have the rides. Now get the better staff.
Wednesday, December 13, 2006 8:13 PM
I was just down at Magic Mountain for the first time a little over a month ago. I have to say they have a long way to go. The rides are great, but the park is a mess.

I agree with Goliath Freak, a new GM would be great. More staff and more training would be even better.

Wednesday, December 13, 2006 8:29 PM
Ride of Steel's avatar I'm really confused by this article, are SFDL, SFEG, etc. still for sale?
Wednesday, December 13, 2006 8:35 PM
He also said there was no way they would sell any parks back when he was doing his "30 parks in 30 days" tour in February and March.
Wednesday, December 13, 2006 8:54 PM
Except for the ones for sale.
Thursday, December 14, 2006 2:39 AM
This quote from Shapiro was interesting-

"Here's Santa Clarita calling us for months and saying they'll do anything to keep the park, and now the city manager is thinking of changing the name of Magic Mountain Parkway," Shapiro said. "Some love."

At least he is very honest and forward.;)

Thursday, December 14, 2006 4:07 PM
Look at from the city's pov. You have your one major tourist destination threaten to fold up shop, reduce job employment in the area, you fly to New York to offer tax incentives from both the city and the county, and then they still wouldn't commit to keeping the park open. Instead, they keep the threat of closure going for most of the 06 season, attendance drops (with their customer base being repeatedly told that they are not the ideal guest Shapiro wants - slap in the face to the locals who do tolerate less than ideal conditions for many years), which then in turn reduces the amount of visitor spending in the immediate area.

Where is the love indeed?

Friday, December 15, 2006 12:43 AM
I agree. The company has really been "yoyo-ing" the public.
Friday, December 15, 2006 10:59 AM
Yes SFMM is a huge touriist destination and the city of Valencia should do everything it can to make sure that the park stays as a park just to keep some jobs in the area.

But as Golitah Freak said that SFMM brings in lots of visitors and lots of money to the chain....I'd have to say that is very far from the truth. SFMM has lots of coasters and lots of visitors, but the people who go to that park are mostly thrill seeking teenagers and they don't spend money like families do, so they are not getting the souvenier sales and food sales that other parks get. Also, with all of those coasters, they have a very high operating and maintenance cost associated with all of those major coasters.

I really think that if SFMM was making so much money for the chain and SFI was raking it in due to what's going on at SFMM, it would not be on the sale block. SFGAd and SFGAm have similar coaster counts, but also offer alot more for families to do with thrill rides and gentle rides and also a wide variety of kids rides. Also, and correct me if I'm wrong on this one, but isn't the addendance at SFGAd and SFGAm higher than that at SFMM, and more of those are families than visit SFMM

Saturday, December 16, 2006 4:04 PM
Yes and no. Generally speaking SFMM ranks in about $3million annually, which places it right up there with SFGAd and SFGAm. SFMM is on the block for two reasons that have nothing to do with how much money it makes.

1) Lack of families due not only to too many coasters, but the competition from Disney and Knott's, neither of which the other two parks in question have.

2) To fatten up the package being sold to another operator. One major park has to go, and SFMM is the logical choice given the circumstances. I'm tired of people saying SFMM doesn't make money because it does.

Saturday, December 16, 2006 5:54 PM
^Sure, it's pulling in a surplus, but I don't think it's one of SF's cash cows like SFGAdv and SFGAm.

And I am sorry , but a park that is open all year round with attendance at 3 million is not very impressive. 3 mill sounds good but being all year round and higher maintenance, operation costs, etc. bleeds the park more then a park seasonally with the same attendance.

Seasonal parks that pull in 3 million are.

Saturday, December 16, 2006 9:38 PM
^Yeah, I believe CP, PKI, and PCW are the only seasonal parks currently pulling in 3 million people every year. SFGAm and SFGAdv might be as well.
Sunday, December 17, 2006 12:57 AM
Seasonal parks, sure. But none of those parks have an entity named Disney as competition. Not to mention, the highest grossing Cedar Fair park in that chain.

And considering SFMM hasn't even begun to tap into their financial potential (catering to mostly teenagers with season passes), I'd say 3 million per year is quite impressive. The park hasn't operated on all cylinders this decade, and yet still maintains a healthy average.

A new owner, free of the constraints of Six Flags and their quick cash gimmicks, could make a killing with this park.

Monday, December 18, 2006 2:24 PM
janfrederick's avatar ^Not if they run their rides safely.

Ba-dum-dum...Pow! ;)

Thursday, December 21, 2006 4:33 AM
Let's make this short and sweet !!!! They need 2 get there heads out of there asses !!! mine is SFNE! you wanna see a bad staff!!!

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