Posted Wednesday, September 9, 2009 12:12 PM | Contributed by Jeff
Representatives from Southern Star Amusements and Nickelodeon said once their vision is reality, it will create the jumpstart the east needs. Nickelodeon has been studying the shuttered Six Flags site as a possible project for the last five or so months. The project is expected to cost about $165 million, mostly funded by GO-Zone bonds. Some residents fear that the potential to sell such bonds right now is weak.
Read more from WWL/New Orleans.
If it is so viable, why isn't Nick willing to risk any of its own money?
What was the deal with Nick at MOA? Just licensing?
You betcha, dontcha know.
Dang it, now I have to go watch Fargo. Thanks Jeff. ;)
I'd ask the same of Southern Star, but apparently they have no money to risk.
This still feels very similar to that Michigan/I-75 year-round pipe dream, albeit with a Nick license.
Nick is "investing" their IP. Like Spongebob would be hurt if one of the millions of licensing deals fails to make money... ;)
I still say a park "of appropriate scale" could succeed in the area. Never having been to SFNO, I'm under the impression from those closer that the property in question might not be the best choice - but the infrastructure is already there, and to *some* degree so is ride hardware...so that's the best bet. (Then again, that argument is the reverse of the one I make for Cypress, so maybe it's just familiarity with the location - or lack of same).
"No one thathas talked about the bond market and the capacity has ever lookedat our books, our details in the projects," he said. (He being David Crais, advisor to Southern Star.)
What books? What projects?
I suppose it wouldn't be realistic for them to stand up there and say "Yeah, we're going to milk this for every buck we can get, but if we don't make enough money, we'll be out of here faster than a coed can lift up her shirt during Mardi Gras."
It's fools gold. 165 million dollars isn't nearly enough to create a theme park experience that will "create the jump start the east needs" We all saw what happened with Hard Rock and it's 400 million dollar budget. It created a good looking park that still needed time to grow.
If they were putting up half a billion or more, I wouldn't be as skeptical. I think that Nick is looking for a cheap way to replace their lost presence in the Cedar Fair parks and found an upstart company to do so. New Orleans could be home to a great and well run regional amusement park, but not an underfunded themed project like this. Rule #1...to build a finished quality theme park, you need lots of money. IOA...a billion dollars, Disney Animal Kingdom, a billion dollars. 165 million ain't gonna cut it.
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