Mark Shapiro on CBS News

[goatdan]

given the choice between Six Flags America or Kings Dominion - most choose Kings Dominion.

 

Right, which it seems to me is why Six Flags has been adding to the water park at that park and not trying to directly compete with KD. Seems like a solid business plan...

 

From what I understand SFKK is in a similar situation, although there isn't any direct competition.

 

SFKK is in one of the most competitive theme park markets outside or Orlando in my opinion. It's in a relatively small city which has King's Island about two hours away and Holiday World about an hour and a half away. Beech Bend is also less than two hours away, although even discounting it you have three major parks in a small area.

 

Louisville's population is just North of 1.2 million.

 

To compare to SFA, DC has a population of 500,000ish, but the surrounding areas in other states make it about 1 million. Then, add Baltimore's 2.6 million since SFA is less than one hour from it, and you have a population base of around 3.6 million to divide between two parks...

 

I'm not comparing Cincinnati's population because I'm also not including Richmond's population (Cincinnati is admittedly larger), but I figure it is fair because I'm also not including Santa Claus's 2000ish people.

 

SFKK is in a *very* competitive market, and unlike SFA I feel the problem is that they haven't figured out their identity just yet.

[netdvn]

^ Really? I think SFA is in a MUCH more competitive market. Why? Because there are so many major parks competing directly with it.

 

For major parks, you've got...

Hersheypark

Dorney Park

SFGAdv

BGE

King's Dominion

(and you should consider all these parks recently added major attractions within the past few years)

 

On top of that, you have tons of smaller parks as well

The Ocean City parks

Morey's Piers and other NJ Boardwalk parks

Knoebels

Sesame Place

etc...

 

So I think SFA is in a more competitive market because the area is pretty much saturated with parks, compered to SFKK.

[Hercules]

Six Flags America is in large market that is hit hard with a good amount of poverty and low income households. I'm not sure how much amusement park competition they have in that area, though there is definitely entertainment competition. But as for parks, they are pretty much the only gig in town, and aren't doing a good job of it.

 

Some of the parks that you mention, like Dorney, Great Adventure and Knoebels, are no where near Largo, Maryland. Six Flags America is not in any kind of direct competition with those parks at all. I think the main competitors for Six Flags America business would be King's Dominion and Busch Gardens. And other out of industry compeition would include various beaches, and Washington DC itself.

[rydrmr9]

I'm actually glad they showed six flags over georgia. Because on march 18th im going there! The only thing I want to know is, how crowded is sfog this time of year? Just so I can get jist of wait times and such.

 

Thanks.

 

~Ryan

[Hercules]

^ Well, since you are traveling back in time, why don't you find someone who went there on March 18th and ask them. That would give you a really good idea.

[rydrmr9]

i'm sorry i meant april 18th! oops my bad.

[tedten]

I think the investors should give the company a break seeing as they made a profit for the first time ever in 47 years of operation! With Shapiro at the head SF could be turned around within 10 years if the investors could just give them a break. You can tell how much pressure he's under every time he is interviewed. He really wants to succeed & if the investors could give the company a break they'd be solid gold within 10 years!

[slicknixon]

Also, don't forget that SFA couldn't be in a worse location. There has been a good amount of crime-related incidents at the park throughout the years which drives many people away. Not to mention the ridiculous amount of line jumping that occurs in front of closed eyes. I'd be afraid to be part of their security team.

 

I'm not one to judge people from DC but location seems to be the park's biggest problem. Personally, it's the only park i wouldn't take my family to.

I even know someone whose car got broken into in the parking lot and i hear it happens very often there. It's not worth the risk for Ride of Steel. Hell, i can't even think of any other attractions that i enjoy there.

[KDCOASTERFAN]

The company has potential to do well, and coming off confident is the right thing to do.

 

However, there are some parks in the chain that are really dragging them down. If you read the section below the reporter actually makes a comment that is very true in my area (Washington, DC): given the choice between Six Flags America or Kings Dominion - most choose Kings Dominion. From what I understand SFKK is in a similar situation, although there isn't any direct competition.

 

I like Shapiro, I sincerely hope he manages to get the company through this and actually make Six Flags somewhere I'd like to visit.

 

Well rumors claim that a thomas town section may be replacing two face at SFA next season but I don't see how they can really develop a decent second kids are within that limited amount of space.

[larrygator]

I think the investors should give the company a break seeing as they made a profit for the first time ever in 47 years of operation! With Shapiro at the head SF could be turned around within 10 years if the investors could just give them a break. You can tell how much pressure he's under every time he is interviewed. He really wants to succeed & if the investors could give the company a break they'd be solid gold within 10 years!

 

You are confusing investors and creditors.

 

The creditors have been making money ever since they started lending to Six Flags, through interest payments. I guess you could call them investors, but they are really just lending money.

 

Regular stockholders are the real investors (as they own a share of the company) and they have not made money since the stock price has mostly sank in recent years.

[Guest]

I think the investors should give the company a break seeing as they made a profit for the first time ever in 47 years of operation! With Shapiro at the head SF could be turned around within 10 years if the investors could just give them a break. You can tell how much pressure he's under every time he is interviewed. He really wants to succeed & if the investors could give the company a break they'd be solid gold within 10 years!

Thats kindve a rediculous statement, the profit they made in 08 was very small and a profit of a few million isnt really that impressive when the debt is billions. Also your assuming that they will be making improvement and significant profits for 10 straight years, assuming things are going to happen for years is a bad idea in our economy. Even a year ago who wouldve ever thought what was gonna happen to Freddie Mac/Fannie Mae, the banks, and all of those companies that were great buys not long ago that are now bankrupt (AIG). Its too unpredictable, the creditors have no reason to think about that.