thesman wrote:Curious, what power does six flags have over the parks if they only operate them?
This is the real question here... are they lease-operating with the intent to buy in a few years? These REITs don't tend to hold onto properties forever. If SF has the right terms in place to be assured that they have the rights to buy in a few years, then that means they are more likely to use their own capital to improve and expand the parks.
I know DL has been kind of up and down, mostly due to their reluctance to buy and operate more than one train on their coasters, but FC has come a long way since SF sold it off. FC has gotten a new coaster, a new water park, and a number of old rides switched out for newer ones. That is in addition to massive infrastructure and TLC projects across the park that have incrementally rebuilt it from the ruinous state SF left it in. Will SF let it wither on the vine again?
I feel like OKC and FC have grown and shown their potential to support bigger operations. Even just getting one new major coaster to switch out one of the "classics" would be a big deal. I love the classic sczwartzkopfs, but Silver Bullet has had a lot of bad publicity and replacing it with a new G-Fighter or similar would be huge for them. My dream is for them to replace Wildcat with a new GCI or rebuild the second half. With all the other older wood coasters in the area getting refurb projects, maybe SF will realize it makes sense?
ytterbiumanalyst wrote:With all the improvements Frontier City has done recently, this can only be very good for them. Probably not going to be included on any passes, since EPR will want their cut, unless they decide to do a Double Diamond Bling-a-ma-tized Super Batmobile Membership that lets you go to these EPR parks as well.
ERP is a silent owner in these parks. I would imagine it would be the same as Six Flags Hurricane Harbor in Concord CA. (Which is also owned by ERP)
I honestly had to Google where Concord, California, is. Checked out their website--looks like Gold+ membership or higher gives you entry? Sounds right if they had to get EPR their moneys too. Everyone gots ta get paid.
Concord is part of the SF Bay Area and isn't too far from Vallejo. A Discovery Kingdom Gold Pass now includes the water park in Concord just like the Magic Mountain Gold Pass (the one I have) includes the water park next door. I think Six Flags is trying to get companion water parks for its theme parks in places where they don't already have water parks. I'm not sure what they're going to do the Wet N Wilds in Phoenix and Houston though and what Six Flags passes will be included with those. If they were buying Castles N Coasters I'm sure they would give it a major overhaul, but the fact that they aren't means it must not even be worth acquiring to make it a major Phoenix area theme park. If any of the former Astroworld were still there they would have reopened it but maybe they are waiting for one of the new theme parks in Houston to get built and open up and then try to acquire it so they can pair it with the water park they acquired.
I thought about that, I would be all for Six Flags purchasing Grand Texas and spend that money there looking to burn to build the theme park portion now. That would be unexpected since Grand Texas was developed by the old Astroworld GM. I think Six Flags just wanted a way in the Houston market. The last few years of Astroworld, Six Flags owned Splashtown, despite that Astroworld had Waterworld an okay waterpark. The difference now, they will have competition from Schlitterbahn Galveston, Typhoon Texas and soon to open less than an hour away Big Rivers at Grand Texas. It will be interesting to see how it goes this time. I’ll go to Wet N Wild Splashtown if my Six Flags season pass works there.
Nobody can definitively answer this question. If you're making investment decisions based on SIX acquiring more properties then you're a year or two late though. They've been expressing their desire to do so for awhile now and based on the market's non-reaction the shareholders fully expected this.
PS: Asking for investment advice from coaster enthusiasts is a terrible, terrible idea.
I can't say I'm surprised, particularly that they've swooped in and taken up the operating agreements for Frontier City and Darien Lake. It will be interesting to see how much they invest in these parks and if, based on their success they pursue re-purchasing the parks outright at a later date.
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