Posted Wednesday, March 10, 2004 1:22 PM | Contributed by ACEAND1
Six Flags Inc. said Wednesday it agreed to sell its Six Flags Worlds of Adventure theme park to Cedar Fair LP for $145 million, and sell its European division to a private investment firm for $200 million.
Read more from Reuters via Yahoo.
Wednesday, March 10, 2004 1:32 PM
PKS stock going up as well as FUN. Seems like the handover of World of Adventure to Cedar Fair was a smart move by Six Flags and will benefit both parties in the short and long term. Might be that 2004 will be a turning point in Six Flags management and decisions.
Wednesday, March 10, 2004 1:37 PM
Well well well... although similar to the other news story below...
...I had to say this... I didn't think that Six Flags was going to sell any of its underperforming parks. I thought they'd die in their grave until they gave up on any of their parks.
I guess that's a good sign for both parties. I can only hope that Six Flags puts up a couple of other parks for sale. Not so as much as they can have a monopoly on the Mid-East/NorthEast market, but just to help these underperforming parks out which have been slacking lately in a few areas.
I just wonder what this means... in terms of Worlds of Adventure/Geauga Lake... about all their previous dreams & plans on the wildlife side which was announced years ago what they wanted to turn it into.
Wednesday, March 10, 2004 1:40 PM
Too bad Cedar Fair tore down those 2 coasters this year- Hercules and Orient Express. They've got a large piece of land on the old sea world side to fill now.
Wednesday, March 10, 2004 1:43 PM
$ 145 Million ...what a deal ! With all the investments 6flags put into the park . Cedar fair got themselves a great bargin. My hats off to you Dick Kinzel., you may not have surprised ohio with a new coaster..but this works ! I cant wait for the next few years to see this park transform to a fun place to go again.
Wednesday, March 10, 2004 2:37 PM
I can imagine it now. Ohio residents showing up to what they still think is Six Flags Worlds of Adventure only to find Geaugea Lake there again. The chaos!
Wednesday, March 10, 2004 3:00 PM
ROFL....."related parks" says Wild Adventures...;)
Kent Buescher's got his park in Valdosta, and Cypress Gardens, and I'm still hoping for him to take over Silver Springs (now that LeSourdsville may have new ownership)....but I knew NOTHING about his stake in the Ohio park...;)
Sounds like anyone with a decent LOAD of cash can do some bargain-hunting/cherry-picking through the SFI empire these days, LOL...
Wednesday, March 10, 2004 3:05 PM
Wow this is great for SFWoA I can see the park doing much better under CF control. The park will take a big turn for the better. Also did they sell all of their european parks or just the smaller properties for $200 million because i know SF Holland and Belgium are worth a lot more than that? It looks like SF has finally used the method they should've used all along to get out of debt.
Wednesday, March 10, 2004 3:09 PM
I am really
getting tired of changing this park's name on my track record! Geesh.....I think they should change it every 5 years for spontaneity! And to think we'd never see the old GL name on anything ever again. Guess my little shot glass isn't worth so much anymore. LOL The real question is, what font are they going to use in the logo? :D
Wednesday, March 10, 2004 4:36 PM
I'm just so glad SFMW wasn't included in all this, the only SF park not actually owned by SF. Would've thought this would be the first park they'd dump, but being the only marine/animal park in the chain, seems logical to assume one of the main reasons it was kept was so SF has somewhere to relocate all of WOA's marine animals to.
2005 is the year SF gets to exercise their option to buy SFMW, wonder what will become of SFMW (please no Paramounts Marine World!). But a Busch Gardens/Marine World would be awesome!
Wednesday, March 10, 2004 5:08 PM
I'm really hoping that this means that Six Flags Holland is going to be a more enjoyable place soon!
I mean, there's some cool coasters there, but when I was there last time, I queued up for a total of 8 hours for only 5 rides - due to single train operation on all coasters.
Or maybe the park will be closed down, and Goliath will be deconstructed.
Thursday, March 11, 2004 12:06 AM
Opps...I did put the wrong park up there...LOL
Thursday, March 11, 2004 12:39 PM
getting rid of excess baggage to trim the the company. makes a lot of sense to me .