News: Magic Springs park sold to Orlando company

Posted at 3:23 PM EDT (1923 GMT)

Mar. 29th, 2007 -- The Magic Springs and Crystal Falls amusement park in Hot Springs, AR, has been sold to Orlando's CLN Properties. Under the terms of the agreement, the former owners will lease the park from CLN and continue to manage it. The lease will be in place for 20 years.

Although no staffing changes are predicted as a result of the sale, CLN will put $10 million for additions and improvements into the park over the next two years. The Crystal Falls waterpark will receive an expansion this year and a "major new ride" is expected for 2008.

See Arkansas Business and KTHV for more.