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.
I agree with Goliath Freak, a new GM would be great. More staff and more training would be even better.
"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.;)
Where is the love indeed?
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
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.
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.
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.
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