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I love DW
Joined: Jun 2006
Posts: 1951
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It is sad that a theme park is in debt. But giving someone $15 million for a $3.5 million debt is that a little much. Hopefully thought the park will be able to get back on there feet and be able to get back in the black.
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| 9/12/2006 10:50 PM |
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WildeFyre
Joined: Apr 2004
Posts: 2983
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So, I doubt Starliner will be rebuilt.
And who are they kidding? I'm sure the hurricanes played a small role in this, but competing with Disney, Uiversial, and Busch played a much, MUCH bigger role.
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| 9/12/2006 11:40 PM |
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coastercrazy68
Joined: Aug 2006
Posts: 55
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THe attendance at the park has been good. As a former employee who worked there even before they opened I tell you they had struggles with money because of the insurance issues. They finished a third of the construction, the hurricanes trashed everything, and had to start from scratch again. Now the insurance companies don't want to pay.
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| 9/13/2006 7:27 AM |
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Wes
Joined: Sep 2001
Posts: 10925
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So that answers why Starliner never got rebuilt.
It's a sad day for all these small parks.
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| 9/13/2006 9:00 AM |
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trainguy83
Joined: Dec 2003
Posts: 291
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Part of that 15 million dollar loan is to cover the start of construction on Starliner from what I've read,seen and heard Ken say in a interview with a news station here in Florida.
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| 9/13/2006 9:17 AM |
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coastercrazy68
Joined: Aug 2006
Posts: 55
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If they can get the insurance company to cough up the cash they will be fine. If not maybe they will sell the park to someone else. Attendence has been better than they thought, so it is a profitable venture. Maybe even the state, county, or city can purchase the park.
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| 9/13/2006 12:31 PM |
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trainguy83
Joined: Dec 2003
Posts: 291
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^ none of them wanted it in the first place thats why it went under and Ken bought it. Personally I dont see him selling it to anybody, I see some investors maybe but nothing more then that.
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| 9/13/2006 1:44 PM |
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Komatz70
Joined: Oct 2005
Posts: 455
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This could be expected, he tried to get the state to kick in more way back when he got the park...But I have always understood CG problems have been more related to employee turnover and not so much attendance...Only thing I ever heard about the hurricanes was the gardens, which flowers do not cost as much a buildings and rides.
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| 9/13/2006 6:33 PM |
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coastercrazy68
Joined: Aug 2006
Posts: 55
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Almost all of the buildings left over from the original park were damaged by the hurricane. I personal helped out in the cleanup, it was a mess. Most of the roofs needed to be re-shingled, there was water damage to the drywalls from leaks, and alot of the electrical wiring had to be redone.
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| 9/13/2006 10:02 PM |
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bk2004
Joined: Oct 2003
Posts: 7729
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Oh that's sad! I used to live in Winter Haven and support this park 100%....I hope it continues. They have a real gem on their hands.
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| 9/13/2006 10:11 PM |
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cannonballer
Joined: Jun 2004
Posts: 1350
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Siince my post was deleted for no reason I shall say it again...
It is like Cypress Gardens has and always will be cursed. Throughout history the parkl has had troubles upon troubles and changing ownership has not even worked.
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| 9/13/2006 10:48 PM |
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Komatz70
Joined: Oct 2005
Posts: 455
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Most of the buildings at CG needed that work to be done even before the hurricanes hit, as the park had been neglected prior to it closing the first time...oh, and 3.5 million in debt is nhot that major for any park.
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| 9/14/2006 5:32 PM |
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Mrceagle
Joined: Sep 2002
Posts: 1911
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This makes sense actually. The Bankruptcy will allow the park to restructure the Finances of the park. i had also heard that the hurricanes that hit the area caused allot of damage and in turn hurt the park dearly. Yes they are Competing with Disney, universal, Sea World, etc. but they are more of a day park for the locals. They do need to look into more ways to attract a few more tourists. help boost attendance a little more.
as for the 15 million it makes sense. for starters it means that companies sees a future in Cypress and value beyond what he payed. The park will survive better wince Starliner is built and there are a few worth while rides at the park that aren't build by Zamperla. They could consolidate past debt and get extra funds to improve the park and make it more competitive.
perhaps they could ass a Music Fountain to the park Sarcos installed the belagio's I'm sure they would be happy to work with CG.
I solid dark ride. I not saying a Spiderman or test track copy but a solid Dark ride with good animatronics. perhaps get a character contrack to help market it and bust park attention.
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| 9/18/2006 8:10 PM |
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CoasterFan914
Joined: Nov 2006
Posts: 226
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A scrambler dark ride would be awesome. Scrambler's are cool to ride in the dark because you don't know when it will stop or where it's going. Also I've heard news of a Steel Adult Coaster goin up in 2008 so that will help in the long term. For now they need to worry about the Short-Term which is Starliner, adding more water park and thrill rides, and getting out of Bankruptcy.
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| 11/8/2006 4:51 PM |
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More about News
Sep. 12th, 2006 --
Cypress Gardens Adventure Park, LLC, has announced that it filed for bankruptcy in Georgia on Monday. The company, which operates Cypress Gardens in Winter Haven, Florida, also stated that the park will remain open as they will operate under Chapter 11 protection.