Busch Entertainment Officially Sold to Blackstone

[cfc]

I can't speak of what is out West but I know that both BGA/BGE aren't resorts. BGE is in the epicenter of a tourist destination but the surrounding attractions like Colonial Williamsburg don't contribute to BGE's bottom line.

 

Hmm--not so sure about that. BGW and Colonial Williamsburg have been selling combo passes for the park, the historic area, Jamestown, and Yorktown for a few years. I imagine this has been a pretty good arrangement all the way around, or else they wouldn't do it.

[alpengeist04]

^Would that not cause them to lose money?

 

Why? Actually, I think the above posts pretty much answered that question for me. Remember, they kind of already had a 14 day combo pass for the Busch and Universal parks. ...Not sure if they still do or not.

 

Anyway, I'm hoping they take a page out of Disney, with an option on which parks and the number of days you want to visit.

[Hercules]

I can't speak of what is out West but I know that both BGA/BGE aren't resorts. BGE is in the epicenter of a tourist destination but the surrounding attractions like Colonial Williamsburg don't contribute to BGE's bottom line.

 

Hmm--not so sure about that. BGW and Colonial Williamsburg have been selling combo passes for the park, the historic area, Jamestown, and Yorktown for a few years. I imagine this has been a pretty good arrangement all the way around, or else they wouldn't do it.

 

And even without the combo passes Colonial Williamsburg would have an indirect correlation to Busch Garden's profit. The entire area is essentially a package in itself. I think it would be rare for someone interested in going to Colonial Williamsburg and/or Jamestown/Yorktown, and not fitting in Busch Gardens into their itinerary.

 

Also, you don't have to be a resort to make money from a lowered gate cost. Let's just say hypothetically, park admission is $50. A family of 4 purchases a combo pass for said park that would give the park $25 less in profit per guest at the gate. However, the family had never planned on going to the park to begin with. At the minimum, that would be (assuming all things equal) the park brought in $100 more by having that combo pass. Not to mention, the potential for, say a $40-50 lunch, and potentially $50-100 in merchandise from that family. Multiply that over the possibility of thousands of additional potential guests, and you don't have to have a resort to make some extra revenue. Now, will some of that be offset by some people that were planning on doing the park anyway? Sure. Good for them for seeking out a great deal. But the potential for a good gain with a combo plan would, hypothetically, work out well.

[monsterfan99]

This can only mean good things for the parks to not be in limbo. The one thing it makes me wonder is if there will be in changes in the annual passes. It would be wonderful to combine the Universal Parks with Sea World and Busch Gardens in FL on one annual pass.

[Electerik]

I can honestly say that I don't go to any Busch or Sea World park to "See the Clydesdales."

 

Agreed. And, moreover, they only ever made any sense at all in Williamsburg. I don't think the giant land-horses being gone will leave an obvious gap at SeaWorld.

 

Count me in the "sounds like good news" crowd.

[SharkTums]

^And to further add to the Clydesdale nonsense, at Sea World San Antonio they had a 'Photo with a Giant Snake' in the Clyesdale Barn!!! This could not have been very good for anyone...especially the horses!

[adeuce02]

I hope this turns out good and hopefully will. I dont go to see the clydesdales but they will be missed more so at bge not anywhere else.

[ginzo]

Is Mr. Hands going to miss the clydesdales?

[Homer]

Here's my honest opinion as someone who grew up with Busch Gardens Tampa and made lots of visits over the years.

 

It's great that Busch is now owned by the company I think would better handle the reigns of the Busch Gardens and SeaWorld names. I was honestly a little weary when InBev took over and basically ruined what little patriotic charm Busch parks had. The free beer was a good way of advertising and pulled visitors in. The fact that it was still American-owned was another thing I liked.

 

My only concern with Blackstone is that now they own most of the Florida parks and I'm not sure what they will bring in now to Busch Gardens and Sea World. I'm not sure whether or not they'll add anymore rides and make the parks "animal only" and keep the thrills to Universal. Maybe I am overthinking things or being a little too pessimistic.

 

I have confidence though that Blackstone will make the right decisions with the parks and that hopefully they will add solid and fun additions. Now if only BGT would get more flat rides, but that's wishful thinking. At least it's better than InBev.

[BeemerBoy]

I hope this turns out good and hopefully will. I dont go to see the clydesdales but they will be missed more so at bge not anywhere else.

 

Why not at BGT? Heck, they even used to have a brewery on site. Even post brewery, having Clydesdales there always seemed like a logical tie in. Well, to me, anyway.

[shernernum]

Here's my honest opinion as someone who grew up with Busch Gardens Tampa and made lots of visits over the years.

 

It's great that Busch is now owned by the company I think would better handle the reigns of the Busch Gardens and SeaWorld names. I was honestly a little weary when InBev took over and basically ruined what little patriotic charm Busch parks had. The free beer was a good way of advertising and pulled visitors in. The fact that it was still American-owned was another thing I liked.

 

My only concern with Blackstone is that now they own most of the Florida parks and I'm not sure what they will bring in now to Busch Gardens and Sea World. I'm not sure whether or not they'll add anymore rides and make the parks "animal only" and keep the thrills to Universal. Maybe I am overthinking things or being a little too pessimistic.

 

I have confidence though that Blackstone will make the right decisions with the parks and that hopefully they will add solid and fun additions. Now if only BGT would get more flat rides, but that's wishful thinking. At least it's better than InBev.

 

Again, like the last post that mentioned them.....what does Universal have to do with this aside from being down the street from one of the parks.

[Electerik]

^ Universal has nothing to do with it. However, Blackstone owns 50% of Universal Orlando. Thus the speculation for some sort of partnership.

 

Personally, I'm rather skeptical about that. But who knows?

[Hilltopper39]

For the beer prices comment... the current prices at the park are around 5.50 for a 16oz bottle from most vendors in the park which is about average from most parks/events Ive been to. Ever since InBev took over and round last May I believe, the beer prices went up right around the same time they stopped offering the free beer tastings.

 

Another comment, I love the Clydesdales myself, but no more clydesdales mean a big empty space for new attraction...... let the speculation begin!

[pkd freak]

This is going to be very interesting...

I just hope its for the best

[carolinacaniac]

As silly a question this may be of me to ask, I am still curious. Do you suppose that this could possibly mean that BBW would be given another couple years, or do you think that this sale really plays no part in the closing of the coaster?

 

-Gary T.

[Electerik]

As silly a question this may be of me to ask, I am still curious. Do you suppose that this could possibly mean that BBW would be given another couple years, or do you think that this sale really plays no part in the closing of the coaster?

 

That's an interesting question. I suppose it's possible that the new owners could reverse the decision. (Though there's currently no indication that they would, of course.)

 

That would be awesome, however.

[Homer]

I doubt this will reverse Big Bad Wolf's removal. When Shapiro took over Six Flags back in late 2005, he wanted to reverse Astroworld's closure and sale but plans were already in motion.

[B-RadG]

I don't think Big Bad Wolf has a chance, because in Arrow's contract it stated to only run it for 25 years. As much as I'd love to see Big Bad Wolf last as long as Nessie or longer, I know it's not gonna happen.

[themeparkman25]

How does a company like Six Flags end up 2 billion in debt, and then have another company like Blackstone pay 2.3 billion IN CASH for these parks?

 

If I know my terms, paying in cash is a figure of speech, but still means that they are only taking a loan out of 0.4 billion (still a lot). Cash means assets Blackstone already has right? I am still working on my business degree, someone who has one help me out!

 

Perhaps we could Busch Dubai resurface soon as Blackstone would announce plans to continue or halt those further. Either way, I am satisfied with the sale.

[Jew]

^Because doing a simple google search on Blackstone would reveal to you that they are private equity firm with a crapload of assets that go way beyond theme parks. A $4.13B IPO offering in 2007 sure helps too...

[ginzo]

^And that's why finance is a giant black box to me. Private equity firm with an IPO? Me no understand.

[Kennyweird]

Glad to see Busch Entertainment has a new owner. Hopefully, this will be good for the parks and ensure their continued success.

[CHILLERLC1]

Could the Clydedales barns become Intamin stations?

[cfc]

The reaction in Williamsburg has been positive so far; in fact, the local tourism industry is breathing a sigh of relief.

[ctriceman]

Blackstone is very much about cutting costs and the bottom line, they just took over a chunk of hilton and sent quite a few call center jobs overseas. When I saw they were buying BG it made more sense that BBW is coming down.