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Six Flags Conference Call Details, 6 Parks Possibly For Sale


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Hey from what i heard they are suspending all coaster orders till 2008 and are waiting to see how much$$$$$ they get .

Did you just read? They've already placed their orders to ensure opening dates are met!

 

beside the only ride they at sfmm would have room for is a impulse.

lol.

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If so trips then they are digging a bigger hole on there pocket books. As for the impulse its a perfect replacment for flashback.

 

Why would they build a coaster that is expensive to operate. Do you have any idea how much electricity is needed to power the LIMs on the standard impulse coaster? Besides, they have plenty of room. I was there in May and just walking around the entire park.... it's huge. If you've ever been to cedar point you'd know just how much room is there, and I think SFMM has more room to expand than CP does. Anyway, the only change I predict you'll see is flashback being torn down, perhaps with a stage put up in its place for a nice, family-friendly puppet show or whatnot. This show will go on for a month and then be cancelled, like all the rest of their half-a$$ed efforts to turn so branded "thrill parks" into family parks without drastically changing the ride offerings. The only thing you need to know is SFMM will probably not be closing. That should be good enough news without them having to build another coaster... Good thing the management of Six Flags doesn't have that same mindset, or they would continue to run the company into the ground until ALL the six flags parks were forced to be sold or closed.

[/rant]

-James Dillaman

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They won't be spending any of that $100 million on SFMM, SFEG, SFDL, WWEV, or any of the other parks for sale. They are expecting to have them sold long before the 2007 season begins.

 

The coasters purchased are most likely Pandemonium clones and going to SFFT and SFStl since both parks have already begun construction. Everyone else will be getting family rides and attractions.

 

The fact that all the rides have bene ordered means SOMEONE at each park knows whats coming and will be spilling the beans soon enough.

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  • 3 weeks later...

From yesterday's Los Angeles Times:

 

Magic Mountain Owner Seeks Package Sale

Six Flags aims to unload six parks as a set, making development of the Valencia site less likely.

By Roger Vincent, Times Staff Writer

August 19, 2006

 

 

Six Flags Inc. on Friday sent potential buyers detailed financial information on six of its amusement parks, including Magic Mountain in Valencia, after signaling its intention to sell the properties in a single transaction.

 

When the New York-based company announced in June that it might sell the parks to reduce its $2.1-billion debt, it listed options including selling one or more to theme park operators or dismantling the attractions and unloading the properties to real estate developers.

 

 

But on Thursday, Six Flags Chief Executive Mark Shapiro said that he would like to sell all six parks as a package, reducing the likelihood that Magic Mountain and neighboring Hurricane Harbor water park would be picked off by a local builder eager to blanket the land with homes.

 

In an interview with Bloomberg News after ringing the closing bell on the New York Stock Exchange to mark a change in the company's ticker symbol from PKS to SIX, Shapiro said Six Flags might keep the parks if it didn't get a good enough price.

 

"The real estate angle might be overrated," said Dave Omel, vice president of operations for Palace Entertainment Inc., a Newport Beach holding company for Raging Waters, Boomers and other entertainment centers. "If they did some work, these would be very viable theme parks."

 

For example, Magic Mountain could benefit from improved marketing and operations that would "make it nicer and more family friendly," such as implementing a dress code, Omel said.

 

Magic Mountain has a reputation for security problems and attracting rowdy teens. Shapiro has said he would like to make it and the company's 29 other parks more attractive to families.

 

In addition to Magic Mountain, Six Flags hopes to sell properties in Buffalo, N.Y.; Denver; Seattle; Houston; and Concord, Calif. Keeping them bundled would ensure that the less desirable parks are sold. The buyer could operate some and resell others for real estate development.

 

Development makes the most sense to another industry expert.

 

"There's very valuable dirt under some of these parks," said Carl Winston, director of the hospitality and tourism management program at San Diego State University. "Certainly that's the case at Magic Mountain."

 

The land in Buffalo and Houston might have little potential for development, but the four other parks are in thriving real estate markets, Winston said.

 

Local developers have expressed interest in creating a mixed-used project on the 250-acre Magic Mountain site with housing, retail and perhaps office space.

 

Parcels near the Valencia site sell for $750,000 to $1 million an acre, making the land on that property alone worth $200 million or more.

 

Shapiro has said that when evaluating which parks to sell he considered whether they were on valuable real estate. He also has said that the combined sale price would have to top $500 million to be worthwhile.

 

Six Flags' stock price fell more than 50% in the last six months but ticked up recently on Wall Street's assumption that the properties looked good to builders, Winston said.

 

"My speculation is that some real estate developer is thinking, 'Wow,' " he said.

 

Shares of Six Flags fell 6 cents to $4.99 on Friday.

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Well, by that last statement, it seems they are doing this deal to attract real estate developers rather than keep the parks as they are Well, that means less competition for my California Super Park when it happens (if it happens, land costs alot these days). But I hope there is a startup company that would want to get its investors to help it make a chain out of these starting parks. When the land itself is 200 000 000 for one park and they would sell at 500 000 000 for the whole chain, that's a pretty good deal. Unless they can't handle all the problems.

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I don't see this as a bad thing... yet. It would be awesome if another company took over Magic Mountain and some of the less popular six flags parks. I wouldn't miss Bugs Bunny at all, Tatsu on the other hand... Keep your shovels away from Valencia!

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If they had the money, couldn't they hire the Imagineers to design new themeing and such for Magic Mountain or ask for ideas? From what I remember, they were not part of the Disney company but were their own standalone entity? Clarification? I don't know who is in charge of Six Flag's theming department.

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You know, after spending 3 hours in the park on Saturday (first time there since March) and leaving with a headache and upset stomach (due to all of the rough rides) I'm less concerned about the park closing.

 

Went to the park this morning with the kids, had an awesome time (which had little to do with the park). Sat down, watched the terrible Tatsu crew take between 7 and 10 minutes to dispatch a train (2 train op). IMO that's unacceptable. It should not take that long.

 

Anyway, I will have my saturday and today Photo TR up later (most likely tomorrow).

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  • 3 weeks later...

I have been to MM several times, the first few were great! the latter visits werent so fun, long wait times, several things broken down, what really got me was the Riddlers revenge, the first few times I rode that, smooooth as can be. the last time I rode it, omg it had gotten rough. I also noticed that the crowds were getting a little rougher too. saw too many kids messing with people, and being pretty obnoxious. However, even with those last few bad visits,it would be sad if they closed MM down.

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I have been to MM several times, the first few were great! the latter visits werent so fun, long wait times, several things broken down, what really got me was the Riddlers revenge, the first few times I rode that, smooooth as can be. the last time I rode it, omg it had gotten rough. I also noticed that the crowds were getting a little rougher too. saw too many kids messing with people, and being pretty obnoxious. However, even with those last few bad visits,it would be sad if they closed MM down.

 

Well, going to SFGADV twice, I'll say it once.

 

A great father once said...

"Well, Six Flags Great Adventure ain`t too 'Great' anymore..."

One could also add,

"It ain't much of an 'Adventure', either..."

 

Well, let's say that compared to what I've heard, the crowds were a little obnoxious, and vulgar language and strings of obscenities were almost common on Nitro, Eruption, even freakin' Skull Mountain! Some people probably think that because it's Six Flags, they can curse all they want. There were little kiddies everywhere! Some annoying and "Moooom! This line is too long!", "Why [insert dumb coaster question here]?", and the inevitable "[insert various annoying scream/cry the ENTIRE ride]!!!1111", but there were the innocent and cute ones with their looking-out-of-place families. Those groups are the most trouble. Five people and four seats left? They refuse to go on. So. Freaking! Annoying! Then no one else is solo, except me, it always seems. That or I'm too 'geek' to have anyone to ride with. I went on Wildcat at CP solo! Wasn't as good having three others freaking out while I savor the moment.

 

I'd personally want to see the removal of the Six Flags name and trademarks. Cedar Fair is proving itself to know how to train employes on how to operate with percision and speed and keep a great optimistic attitude while doing it. I don't care if they can get the train going in 30 seconds like Superman (okay, maybe I do), but if they're all depressed and thinking "I'm hating this job" then that'll reflect on the guests. At Cedar Point, the Gemini Ride Op on BOTH days I was there were optimistic and keeping the riders excited with the same statements that always got the same responses, usually cheering or such.

 

Whoa. My general opinion? Either Cedar Fair `em or have an independent owner take full control of a park or two. Heck, give them to S&S, for all I care!

 

SFGADV isn't on the list, right?

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My opinion is that they're going to close or sell some of the smaller Six Flags Parks like New England and keep the larger ones like Magic Mountain and Great Adventure. For how much they were built up, the company will loose that big income they get if they close or sell the larger ones.

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Personally I think that Shapiro is offering up SFMM just to get buyers interested. If the other parks were in as prime a realestate location as SFMM he'd wouldn't be selling Magic Mountain.

 

By the way, this may be total bullsh*t but I don't think Six Flags owns the land Magic Mountain is on. They have a 99 year lease or something like that. It'd suck to own a house on that land when the lease it up, I know that's still 70 years in the future but, it can't be good for real estate investment.

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My opinion is that they're going to close or sell some of the smaller Six Flags Parks like New England and keep the larger ones like Magic Mountain and Great Adventure. For how much they were built up, the company will loose that big income they get if they close or sell the larger ones.

 

Shapiro loves 6FNE. Not only will they not be selling that park. They constantly use it as one of the examples of how he wants the parks to be more like.

 

Just my two cents. But I don't think MM will disapear. With all the incentives and tax breaks that the county is offering. This amusement park stands the potential to become quite the profitable one. With a little care and TLC, and some family flat rides, an S&S tower, Screaming Swing, Sky Swatter, a Huss land of the giants, and lest we not forget our 1/2 flying, 1/2 seated Star Flyer atop Superman Plaza. We are back in tha black!

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Some Rideops were saying that a buyer for SFMM was in the park today! Actually, they weren't sitting down, nor were they on their cell phones, so they could be right!

 

LOL, maybe.

 

On a side note, I was surprised by the number of suits I saw out in the park on Labor Day. They were around all day.

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