
News: Six Flags New Orleans future unclear after KatrinaBy Aaron |
Sep. 27th, 2005 --
When Six Flags purchased the bankrupt Jazzland amusement park in 2002 and renamed it Six Flags New Orleans, it's unlikely the company could have anticipated the ravages of Hurricane Katrina. The storm heavily damaged the park's rides and left it under 12 feet of water. It's now uncertain what the park's future will be. Under the lease Six Flags signed with the city, the company is required to rebuild the park if it suffers any damage. However, it is unknown if that provision will remain in force if Six Flags is sold. Although Six Flags does plan on rebuilding, some analysts wonder if the park will open next year, or even at all. Some consider the park too far from New Orleans' primary tourist attractions, and it's status is further hurt by the fact that the park only operates from spring to fall. See Investor's Business Daily for more. |
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