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Posted at 8:37 AM EST (1337 GMT) Feb. 15th, 2006 --
On Tuesday while Six Flags CEO Mark Shapiro announced the world's tallest and fastest flying coaster, he also indicated that the company would be selling some of its real estate holdings. Calling the amount held "excessive", the plans are based on the results of a report it recently commissioned from consulting firm Staubach Co.
"We're going to evaluate each case," said Shapiro about deciding whether to sell land at some of Six Flags' 30 parks. "It's a tough question."
In a recent Securities and Exchange Commission filing, Six Flags indicated that it owns the land where 17 of its parks sit, totaling more than 6,000 acres.
While Shapiro said that they would give first consideration to selling off excess land as opposed to closing entire parks, he did not rule out closing or selling off entire parks. "I think anytime you acquire or inherit 30 of anything," he said, "there's a couple that for whatever reason aren't best to keep going the way they are."
For more info, read the Chicago Tribune or the LA Times.
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Griswold
Joined: Jun 2001
Posts: 835
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I hope Wyandot Lake is sold to a company that can actually do something useful with it.
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| 2/15/2006 8:56 AM |
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WildeFyre
Joined: Apr 2004
Posts: 2926
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I hope they dont sell land at SFDL, that place could be so much better with some time and money
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| 2/15/2006 10:10 AM |
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Tanks4me05
Joined: Apr 2005
Posts: 849
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^ Exactly what I was thinking, WildeFyre. That place has a lot of potential, and I'm not saying that just because it's my home park.
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| 2/15/2006 3:01 PM |
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Bratman
Joined: Sep 2002
Posts: 448
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^^ still SFDL has over 900 acres....surely they won't need all of it. The amusement park itself maybe occupies 150 acres at best, and the campground maybe the same amount. Even with saving 150 acres for future development, you still have half of the property sitting going to waste. Sell the land and get out of debt.
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| 2/15/2006 8:40 PM |
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Beils
Joined: Nov 2005
Posts: 60
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Or, sell the park to someone that can develop/take care of/DO SOMETHING with it. That park has gotten worse every successive year since S:ROS lost its novelty about 4 years ago. I'd like to see the new administration at SF either come up with something or allow someone who can to do so by selling it.
On another note, it's not like the unused property at SFDL is going sell like hotcakes, the park is in the middle of nowhere. Might as well buy farmland, as it would probably be cheaper than acquiring land from SF.
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| 2/16/2006 6:15 PM |
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