Six Flags to sell off

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Six Flags to sell off

Postby KoasterKid61 » Sun Jun 25, 2006 6:30 pm

"In a huge shocking announcement, Six Flags has announced that it will “explore potential strategic options” for six of their parks. In other words, they are looking to sell them off to the highest bidder for use as either a theme park or for other redevelopment. While some of the six are not all that shocking, there is one really big shocker that is sending waves through the industry. The list includes: Six Flags Darien Lake (outside Buffalo, NY), Six Flags Waterworld (Concord, CA), Six Flags Elitch Gardens (Denver, CO), Wild Waves & Enchanted Village (outside Seattle, WA), Six Flags Splashtown (Houston, TX) and Six Flags Magic Mountain & Hurricane Harbor (north Los Angeles, CA).
While the rest are mostly smaller parks that are not surprising, and I think Darien Lake is just a misunderstood park, I just can’t even begin to fathom that they would ever think about selling Six Flags Magic Mountain. SFMM was long considered one of the holy trinity of top performing parks in the Six Flags chain, rounded out by Six Flags Great America and Six Flags Great Adventure. While I can’t find any figures right now, I believe they used to say that the three parks combined were responsible for at least half of the company’s profits each year.
In the case of Magic Mountain, they went on to say in a local news report that it was because of the park’s “rowdy teenage atmosphere” drawn by the armada of 17 coasters that made it hard to attract the new family marketplace they seek. They mention that the teens don’t spend enough money in the parks and cause security problems, so they will examine their options for the park. They didn’t rule out investing heavily in the park to make it more family friendly. This is what I’ve been saying for years, that the park needed to buy about a dozen new flat rides to replace all that have been lost due to age. Unfortunately, other options for the property would be to sell it off to developers who would love to get their hands on the real estate in a market where the land in Valencia is currently selling for $750,000 to $1 million per acre! WikiPedia lists the park as sitting on 260 acres, so you can see what a huge price they could get for the park if they gave into greed. I just can’t imagine a world where the largest city in the country no longer has a Six Flags theme park. Perhaps Daniel Snyder is just looking for a new site to build a stadium and perhaps bring an NFL team back to Los Angeles, since I can’t believe LA has gone this long without a team either. "


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