Six Flags Discussion Thread

[nitrofan]

As many of you probably know, Six Flags filed for Bankruptcy earlier in June. While it was a sad day for many enthusiasts, they are not closing, and will continue operation for years to come!

Here is a link to a FAQ created by the company:
http://www.sixflags.com/national/footerNav/frequentlyaskedquestions.aspx

Any Discussion on Six Flags Bankruptcy goes here.

[Austin]

I got a feeling they will come back strong from banktruptcy.

[nitrofan]

I really hope they get out of this. Now that Shapiro has shone us what he can do with theming (Terminator), I really want to see what he can do without $2.4 Billion in debt. He cleaned out the parks and made them profitable, we could see some amazing new rides without the debt issue.

And the bad news is that if something goes wrong, SFKK will probably be one of the first parks to go.

Having no news about how this is going kind of makes me nervous, but I'm going to say no news is good news.

[Austin]

They wont eliminate KK. Its one of Six Flags most profitable parks.

They said they want to eliminate 2.1 Billion off the debt with banktruptcy so if im right that leave 300 million left. Shapiro also told staff they made 275 Million last year but had to pay 175 Million to debt interest and then another 100Million in ark improvements. well here ill post the letter.


June 13, 2009

To All Six Flags Employees:

As employees of Six Flags, your talents and dedication have been the most critical factor in the success of our business. Thanks to your efforts, Six Flags has achieved tremendous operational milestones and we now stand ready to take the next necessary step to improve our overall financial health and position the company for continued growth and opportunity.

The turnaround strategy we began implementing in the spring of 2006 has come to fruition. Together, we cleaned-up our parks, enhanced the overall guest experience, repositioned the Six Flags brand by diversifying our product offering, and the company became free cash flow positive for the first time in its history. We delivered on our agenda and as a result, rebuilt the faith, trust and overall relationship with the consumer.

Pride in our company across the workforce has also been restored.

Unfortunately, however, as you know, we inherited an unsustainable $2.4 billion debt load from the previous management team. To put it into context, even if you have a record year and make approximately $275 million as we did last year, when you have to pay out approximately $175 million in interest expense on your debt and $100MM in park improvements to maintain and keep up with the business, that's a balancing act you just can't risk year in and year out. Furthermore, we have over $400 million of debt coming due within the next 12 months that cannot be refinanced in these financial markets.

That's our situation in a nutshell.

Today, we are moving to rectify our balance sheet once and for all. This morning, Six Flags announced it is seeking expedited approval from the Bankruptcy Court for the District of Delaware of its pre-negotiated plan of reorganization under Chapter 11 of the United States Bankruptcy Code. The plan has unanimous support of the lenders’ Steering Committee and the Administrative Agent for the Company’s $1.1 billion senior secured credit facility. This support is evidenced by executed lock-up agreements.

We expect to proceed quickly and we intend to emerge from these proceedings in the coming months with a significantly improved balance sheet and greater operational and financial flexibility.

Our brand and our operations are on solid ground. This process is strictly a financial restructuring of our debt and that’s how you should view it and speak about it.

No one should be confused about what a bankruptcy process means for Six Flags. Following a record year of performance in 2008, which completed the three-year turnaround of our system-wide park operation, this action to clean up the balance sheet paves the way for a full revival of the company. Believe me when I say we will emerge from this process stronger and more competitive than ever.

This was a difficult decision for management and the Board of Directors, but it is the right thing to do for Six Flags. It is critical that you - and our guests, suppliers, families, and friends - know that every park is open and operating today and will continue with normal operations this summer and for years to come. This restructuring process is strictly a “back of the house” effort to address and ensure the longstanding financial stability of Six Flags.

To address what must be foremost on your mind: ALL OF OUR EMPLOYEES WILL CONTINUE TO BE PAID IN FULL AND ON TIME. YOUR BENEFITS WILL CONTINUE. NO REDUCTION IN WORK FORCE WILL ARISE OUT OF THIS FILING.

Our suppliers and other partners will continue to be paid for their goods and services so our product and entertainment offerings will not suffer.

As the face of Six Flags, none of us can allow the distraction of this parent company issue to tarnish what we all have worked so hard to accomplish these past three years. That said, it is up to you to ensure that our guests continue to enjoy the high quality entertainment experience they have come to expect from us. We know from years of experience and research that the single most important factor in providing our guests a memorable experience is their positive interaction with our employees. Particularly in this difficult economic environment, all of us at Six Flags must re-dedicate ourselves to providing the friendly, clean, fast and safe service our customers now expect, and deserve. More than ever, consumers are gravitating toward experiences they know and trust. Six Flags has been a favorite family destination for almost a half century. Our reorganization will ensure that our parks will continue to entertain millions of guests for another 50 years.

With your continued efforts, these proceedings will allow us to emerge as a healthier, more dynamic company with a whole new world of opportunities. When this financial procedure is completed, Six Flags will have shed the greater part of a burden that threatened to undermine all our success. So, keep working hard and stay focused. At the same time, spread the word about what we've accomplished, what we're now doing and why. As an ambassador of the company, educate anyone and everyone around you. Feel free to share this note with your own social network – family, friends, neighbors, blogs, etc. Get the word out. People want to be informed.

As such, I will continue to relay pertinent information as it becomes available. In the meantime, I'd like to thank you for your continued support as we re-build the road to future success.


Sincerely,

Mark Shapiro


President and Chief Executive Officer
Six Flags, Inc.

http://www.sixflags.com/national/footerNav/News_OpenLetterFromOurCEO.aspx

[nitrofan]

They wont eliminate KK. Its one of Six Flags most profitable parks.


I'm sorry, but I'm going to have to disagree.

SFKK is in one of the smallest markets of any of the chain's parks, and its crowd levels reflect it. The only parks I see as safe for sure are SFGAdv and SFGAm.

[Asa]

The 3 originals will stay. Texas Gerorgia, and Mid America.

I see KK getting sold as a positive thing. !

[nitrofan]

The 3 originals will stay. Texas Gerorgia, and Mid America.

I see KK getting sold as a positive thing. !

First of all, SFI doesn't even own SFOT or SFOT. I don't think SFStL is high on the priority list, and I think SFKK would be one of the first to go.

[Austin]

SFKK's attendence was 1.3 million back in 2003 they havent released numbers recently tho. Its in a very good market. You get KI near it, Holiday world just north, and beechbend south. Alot of people make stops here to visit SFKK ont he way to each of those parks.

[nitrofan]

SFKK's attendence was 1.3 million back in 2003 they havent released numbers recently tho. Its in a very good market. You get KI near it, Holiday world just north, and beechbend south. Alot of people make stops here to visit SFKK ont he way to each of those parks.

While the $1.3 Million is a pretty healthy rate, but that was a year of a new coaster, and Six Flags' attendance has decreased chainwide. I know SFGAm's attendance in 2008 was 2.7 Million and SFGAdv had about 2.8. I would say the SFKK one is probably around 1-1.3 Million.

While 1 Million is good for a park the size of SFKK, it's still signifigantly lower than the best of Six Flags, which proves my point. First, SFOG and SFOT would not be the first to stay. Second, while I'm sure SFKK is profitable, it just isn't high on the priority list.

[Austin]

This park is making money out its butt. Its illogical to get rid of it because of attendence. You aint seen the price people pay to just eat there its like 10% more exepnsive then other parks. I guess becuase parking is only 5 dollars. The park owns the land around chang and T2 so its got plenty of land to expand onto in the next few years if it needs to. Last year the park got over 1.2 million people because they said it had been their best year at the park in about 5 years so that was encouraging and the concert series this summer the lines for almost everything was between a hour and 90 minutes. the parks been packed almost all year.

SFKK is one of the parks that helps finance all these new rides like Terminator and evel keneval just because they dont have to add anything every year and it still makes alot of money

[Austin]

btw SFOT? thats the six flags chain first park. that will never be sold

[nitrofan]

^Sorry if I wasn't being clear. I didn't mean get rid of SFKK due to low attendance, I meant that it would be the first to go if SFI was forced to liquidate. While I hope it doesn't happen, SFKK would probably be one of the first to go, like when several parkes were sold a few years ago.

[Austin]

They wont be forced to liquidate. btw i edited that post and added a bit more before u posted.

The park is small but it makes alot of money the chain needs to build things liek terminator and evel keneval.

[nitrofan]

They wont be forced to liquidate. btw i edited that post and added a bit more before u posted.

The park is small but it makes alot of money the chain needs to build things liek terminator and evel keneval.

My concern is that they aren't doing things like that.

Also, I don't thinl SFOT being the chain's first park has anything to do with it getting sold. While it's in the middle/upper pack, if Six Flags files chapter 7 and liquidates, they will sell every asset they have until their debt is paid off. If they pay off every single penny of their debt, that is the only circumstance where they can continue to operate with remaining assets.

[Austin]

they will come out of chapter 13 just fine. I mean look at GM

[nitrofan]

^They also have unlimited funding from the government. Six Flags is in a completely different boat than the car companies. Look at Circuit City, look at Linens n' Things. Their CEOs were confident that they would emerge when they filed chapter 11, but didn't. I don't mean to be Mr. Negative here, but there are lots of things that can go wrong. We can't assume the company will be fine just because Shapiro says the parks will remain open.

[Austin]

no GM doesnt have unlimited. they only got between 10-20 billion which they are repaying the govt.

[nitrofan]

no GM doesnt have unlimited. they only got between 10-20 billion which they are repaying the govt.

But GM has access to unlimited money to stay in business if they need it.

[razor12]

If SF was forced to liquidate then I would say Great Escape and Six Flags America would be on the chopping block before SFKK. SFA and GE are the "forgotton" parks in the chain. SFGAm, SFGAdv, SFFT, and SFoG are probably the four safest parks. SFMM is in high competition on the west coast and they have to continuously throw money at it causing it to become a hassel.


SFFT is safe because Shapiro likes it over most, which is why its the second most well kept park under SFGAm.

Anyway, Six Flags will not get rid of any remaining parks. Thats why they sold the US ones to PARC and the overseas parks. The company has done an entire 180 and creeping out of debt, which is why its now my favorite chain.

[Austin]

Six Flags released their Q2 results this week and posted a net loss of $98.6 million. In addition to hurting from the recession, the outbreak of Swine Flu in Mexico also caused problems by shutting down Six Flags Mexico entirely for almost two weeks. Attendance this quater is also down 8% from the same quarter last year.

From the businessjournal.com:
Bankrupt amusement park operator Six Flags Inc. posted a second-quarter loss due to the recession, restructuring costs, the Swine Flu outbreak and bad weather.


New York-based Six Flags (OTCBB: SIXFQ) had a net loss of $98.6 million and a loss per share of $1.25, compared with net income of $113.5 million and earnings of 63 cents a share in the second quarter of 2008.


The second quarter was impacted by the overall negative macroeconomic environment as well as the outbreak of the H1N1 Swine Flu in Mexico, which resulted in the Mexico City park being closed for thirteen days and also affected group outings at the Texas parks due to school closures.


Revenue fell 13 percent to $302.1 million due mostly to reduced attendance and guest spending. Attendance for the quarter was down 8 percent to 8 million, hurt by a decline in group sales, reflecting cutbacks in outings by companies, schools and other organizations, as well as reduced complimentary and free promotional tickets. Guest spending per capita of was down 4 percent to $36.70.


"Our decline in performance is a reflection of all that surrounds Six Flags -- a severe recession, a balance sheet restructuring process, the swine flu pandemic, adverse foreign currency impact at our international parks and miserable weather, particularly at our East Coast parks,” said Mark Shapiro, president and CEO, in an earnings statement. “The trends of our July business have improved, but nowhere near enough to put us back on pace to match last year's full-season record setting performance."


Six Flags operates the Six Flags Great America theme park and the Hurricane Harbor water park in Gurnee, Ill.
Should you be worried about this? Right now, no. This is mainly due to restructuring costs. Im anticipating next quarter to be better. As you can see revenue is still high. This adds to the reason i think we wont see anything at sfkk this next season but in 2011 we will as they will use the next season to help pay off some of that debt remaining and that means very minimal spending on new rides which the only confirmed new rides are at SFMM.

I'm still very optimistic about the parks future

[nitrofan]

I've always been the realist when it comes to SFI Bankruptcy discusion. I've always said people are way too optomistic, and I still stood by that until today. I first read the report and had very negative impressions. Such sharp declines are the very opposite of Shapiro's promises, which I saw through, unlike most who trusted him and remained optomistic.

That changed today when I saw the Cedar Fair report, a company that is in a much better position than SFI, do signifigantly worse than Six Flags.

The sucess of this restructuring is up to creditors/lenders and the bankruptcy court, and their confidence in the company. I think this is good news for SFI and I am finally starting to get optomistic of the company's future.

MOD EDIT: Thread Moved to Industry News Section

[Austin]

Interesting find on the Six Flags FAQ

Will they be open next year?
Yes. In fact we are already planning new rides and attractions for next season, and we are getting ready for our 50th anniversary season in 2011.

http://www.sixflags.com/national/footernav/frequentlyaskedquestions.aspx

But i doubt it will be big stuff.

[nitrofan]

That was announced in the Q4 conference call in February. They said every park would get a major new attraction in 2011. The Q2 conference call will happen in the next few weeks (I can't find out the exact date), and I'm hoping that we may hear some announcements then. We heard about the Texas Giant fefurb on the last call.

[Austin]

Yea i know but still it makes me wonder

[palmer]

Possible '11 Six Flags extraviganza:
Texas Giant referb confirmed.
SFOT '11:check
Rumor says Superman: Krypton Coaster is getting Bizarro'd in '11 (orginally '10, but it was denied)
SFFT '11:check (Sort of
Wiggles World is going to be following the new SFMM coaster of '10
SFMM '11:check
Thunderbolt(SFNE)enters it's 70th season in '11 (possible makeover/referb)
American Eagle would be 30 and Demon would be 35 (SFGA) in '11 (American Eagle doesn't need it as much as Demon does)
SFGO hasn't got a major coaster or flat since Golitah, new coaster is probable for '11
Screamin' Eagle (SFSTL)is gonna be 35 in '11 an the got Evil Knevil and THBS back to back
V:2 (SFDK) would be 10 in '11 and Medusa @ SFGAdv got Bizzaro'd; Medusa (SFDK) might deserve it.
SFGE doesn't want a coaster, they NEED a coaster. The last one was Nightmare at Crack Axle Caynon, but it's SBNO now. No referbs, a new coaster.
Nitro (SFGAdv) becomes 10 in '11, but it looks a-ok. Plus, there is a chain of they years they get coasters. Two years of coaster, one year not, and it continues.
Twisted Twins(SFKK) could use new trains. I'd say new coaster or referb of T2 (make it T3 lol)
There it is, inform me if i missed a park, i'm very tired

[Austin]

SFStl is getting work 2. Screamin Eagle is getting a major refurb. Featuring trains from TT at SFKK.

[palmer]

Le Monstre (SFLR) is gonna be 25 in '11, that might be a makeover. It's probably a makover coaster because rumor has it that The Serial Thriller from SFGE storage and SFAW would be put in in '11
Batwing turns 10 and The Wild One turns 25 in '11 (SFA) They have not anything big rides at all in the past 6 years (Penguin's Blizzard River) Expect a coaster and a thrill ride.
Six Flags Mexcio just got a TDK and the last big coaster was Superman: The Last Escape. Coaster is possible.

[Austin]

Thunder Run at SFKK will get a makeover for its 25th. it turns 25 in 2014 i believe.

[Jp]

Rattler at SFFT is turning 20 in 2012. I wish they never change it!

I had an interesting find, when I was at SFFT at the water park. I saw an 18 wheeler coming and park. Another is behine the the Scooby Doo ride, there was a pile of stuff cover with a blue cover on top!

[nitrofan]

I had an interesting find, when I was at SFFT at the water park. I saw an 18 wheeler coming and park. Another is behine the the Scooby Doo ride, there was a pile of stuff cover with a blue cover on top!

That means nothing. It could be for anything; Fright Fest storage, merchandise deliveries. The only new attraction for 2010 that would be arriving this early is a major coaster, and that wouldn't come in an enclosed 18-wheeler.


Rumor says Superman: Krypton Coaster is getting Bizarro'd in '11 (orginally '10, but it was denied)
SFFT '11:check (Sort of


That's just some kid editing Wikipedia. I wouldn't call that evidence.

[palmer]

^I saw a couple sites say that. Not just wikipedia.

[nitrofan]

^I saw a couple sites say that. Not just wikipedia.

I think the rumor origionally started when some kid edited Wikipedia saying Superman was getting Bizarroed in '10, so I give that rumor no credibility.

[Theripper45]

When are they going to open mile high falls and twisted twins though?
I WANT TO RIDE THOSE SO BAD!
Twisted Twins is a good coaster i have herd from lots of people!

MOD EDIT: What does this have to do with Six Flags going Bankrupt? Please stay on topic!

[Austin]

They arent reopening. Ever. Twisted Twins is already in the process of being sent out for scrap. Yea it was good int eh first like 4 years of operation, the rest were horrible, why do you think its already shut down?

[nitrofan]

This last page has been completely off topic.

We don't need to talk about Twisted Twins in every single thread on the site.

[Austin]

Just came across this and thought it was interesting. Apparently, the deal to lease Six Flags 38 acres is going to expire in 2021 to 2049 but has a renewal option.

Read more about it here (http://sec.gov/Archives/edgar/data/701374/000110465910000641/a10-1359_1ex99d1.htm).

Also details other parks.

[nitrofan]

Where did you find that?

[Austin]

Screamscapes twitter. I was going through earlier tweets and found it.

[Jp]

I came across this on Theme Park Review!!

http://www.themeparkreview.com/forum/viewtopic.php?f=2&t=51113&start=140
Well according to this, the already started the fight for the company. From the looks of it, the fight my prevent the company from emerging from bankruptcy.

http://www.google.com/hostednews/ap/article/ALeqM5i6VgwVIA3nGQWssTrs5b3dsgvyjwD9EAOAFO2

http://dealbook.blogs.nytimes.com/2010/03/09/six-flags-c-f-o-takes-stand-in-ch-11-battle/

* According to this article, there were numerous investors that were interested in the company. One of them struck my eye like a lighting bolt. (Apollo Management) was one of the companies that were interested in Six Flags. They also own the Cedar Fair properties.

Note: Apollo Management does not own Cedar Fair right now!!

[Austin]

This just in:

WILMINGTON, Del., March 19 (Reuters) - A group of bondholders led by Stark Investments will take control of Six Flags Inc (SIXFQ.OB) under a proposal announced on Friday that would lift the theme park operator out of bankruptcy.

Under the proposal, which requires court approval, the Stark group will invest $725 million in new equity in Six Flags, according to the company's attorney, Paul Harner of Paul, Hastings, Janofsky & Walker.

Under the plan, bondholders will also borrow $1.1 billion. The money will go to pay off creditors and provide working capital after the company emerges from bankruptcy.

Under the proposal, management will have warrants and options worth up to 15 percent of the company's equity. The rest will be owned by the group led by Stark, a large hedge fund based in Milwaukee.

The proposed settlement would also mean a change in strategy by the Stark bondholders, known as the SFI Noteholders. Before the trial, they indicated they were planning on replacing management if their plan of reorganization was adopted.

Now, current management will remain in place under the plan, Harner said. That means that Daniel Snyder, the owner of the Washington Redskins football team who took over Six Flags after a proxy fight in 2005, will remain as chairman. Mark Shapiro, whom Snyder brought in from ESPN to run Six Flags, will stay as chief executive.

A spokeswoman for Six Flags said the plan is now fully consensual and that some details still had to be worked out, such as completing the debt finance.

"We are absolutely comfortable with the level of debt going forward which is why we reached a deal," said Sandra Daniels, the Six Flags spokeswoman in an email. "The SFI note holders have stepped up and written checks for $725 million in new equity, paying off all the creditors senior to them -- that action more than anything signals their confidence in the company and the management team."

The proposed deal came on the ninth day of a trial in which the company was seeking approval of its plan of reorganization.

The company had adopted a plan drafted by a group of senior bondholders known as the SFO Noteholders, a group led by Avenue Capital Group. The company's plan proposed giving the Avenue Capital bondholders control in exchange for their roughly $420 million in debt. Under Friday's settlement, they would be paid in full.

While negotiations have continued during the trial, a source involved in the talks said the Stark group deposited $655 million in escrow last night. "That moved things along," the source said.

A major issue leading up to the trial had been the ability of the Stark group to finance its plan of reorganization. On the eve of the trial, it got a financing commitment from Goldman Sachs Lending Partners LLC (GS.N), UBS Loan Finance LLC and UBS Securities LLC (UBSN.VX).

Friday's settlement is expected to go before the court for approval on April 16, Daniels said, with the company expecting to emerge from bankruptcy shortly thereafter.

Bonds issued by Six Flags Inc, 9.625 percent notes due in June 2014, rose to 28.5 cents on the dollar on Friday, up 1.5 cents on the day, according to high-yield research firm KDP Investment Advisors.

The company still faces some hurdles.

Lance Laifer of Resilient Capital said he plans to continue a "vigorous fight" for a recovery. Resilient owns PIERS notes that will be wiped out under the settlement.

Laifer said the agreement "further highlights the fact that management and the board of directors are more interested in lining their own pockets with equity than with fulfilling even their most basic fiduciary obligations."

Laifer said Friday's proposal values the company at around $2.3 billion. The company's plan drafted by Avenue Capital had valued the company at around $1.6 billion.

"This agreement proves that the valuation works submitted by the so-called experts in the case dramatically undervalued the assets of Six Flags," Laifer said.

Six Flags has been largely unprofitable for a decade, making it an unlikely candidate for a pricey courtroom battle.

However, the debt that kept the company in the red also paid for ever larger and more thrilling rides, which creates a high barrier to potential competition.

For the Stark group, it remains to be seen if they acquired Six Flags for a sensible price and whether the debt has been reduced to a manageable level.

Joel Luton, the director of research for APS Financial in Austin, Texas, noted that theme parks have been on investors' radar in the last year and the trial revealed several parties were interested in the company.

He said Six Flags could be a way to play an economic recovery, although it might also do well in a downturn.

"There is a story there that this is an alternative to the Disney World vacations," he said.

Stark Investments did not return calls seeking comment.

A spokesman for Avenue Capital Group declined to comment.

The case is In re: Premier International Holdings Inc, U.S. Bankruptcy Court, District of Delaware, No. 09-12019. (Additional reporting by Dena Aubin in New York; editing by Richard Chang and Andre Grenon)

http://www.reuters.com/article/idUSN1916902720100319

[nitrofan]

Sounds like things are going well for Six Flags!

[Austin]

This deal sounds ok but heres the wtf parts:

1. Dan Snyder. Football fans will understand this
2. Borrowing 1.1B to pay back their 1.1B in debt just to effectively replace it with 1.1B in new debt.

[palmer]

This deal sounds ok but heres the wtf parts:

1. Dan Snyder. Football fans will understand this


You got me at Dan. That little prick. I hate him. He is just a snotty nose idiot who owns a team that can't win, but seems to be able to have a stadium of 92,000 people capacity.

[Austin]

Haha is it strictly a football stadium or is it baseball? I'm guessing baseball with that capacity.

[Jason]

MR. SIX HAS A KID?!?!?!?!?!?!?!?!
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WHY DIDN'T HE TELL US?????????
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[sccard01]

lame videos

[nitrofan]

I don't get it...

[Austin]

The cat one was pretty hilarious lol. I personally vote the Trololol song should be on the next guitar hero! Lol, look the sing-a-long up and try it rofl.

[say hi]

i'm eternally creeped out by that first video...

[nitrofan]

Whirl Helicopter has signed a multi-year deal with Six Flags to provide park rides in it's Atlanta, New Jersey and Los Angeles theme parks. The ride, appropriately named "The Dragonfly," will hold 3 persons and start at $25.00 per person.

Atlanta, GA (PRWEB) March 30, 2010 -- Whirl Helicopter has just signed a deal with Six Flags USA to provide helicopter rides in it's Atlanta, New Jersey, and Los Angeles theme parks. The "Dragonfly" makes it's maiden voyage in March with a $30 per person ride. Whirl, an Atlanta Helicopter Tour company, has created this program to be one of the most thrilling rides in all of Six Flags parks.

According to Ken Starnes, CEO of Whirl Helicopter, The Dragonfly is "500 Feet of Fun" and certainly affordable to anyone taking the ride. "We wanted to create a product that appealed to people from 9 months to 99 years old." Given the 48-inch height requirement on most Six Flags rides, the Dragonfly is sure to be a popular attraction for everyone.

Whirl began serving Atlanta as an Atlanta Helicopter Tour business and continues to do helicopter rides at various parks, events, and county fairs. Whirl's stable of tours include the popular Downtown Tour, I Love You Tour (great for engagements or anniversaries), and a Discovery flight where YOU take the controls.

Whirl's helicopter pilots are fully certified with the Federal Aviation Administration and have thousands of hours of flight time. Whirl has a perfect safety record and takes extra measures to create a safe, yet fun environment.

http://www.whirlhelicopter.com/Dragonfly

I have seen this get quite a bit of negative feedback, but an equal amount of positive feedback. I personally think this is a good idea and it is fairly cheap, but I'm not sure how many people will actually want to take a helicopter ride at an amusement park.

I think all of these unique ideas Six Flags is coming out with is great, but I just can't see people wanting to do them.

[Austin]

I would just to get aerials lol.

[nitrofan]

I just downloaded the Six Flags iPod app. I think it's a great idea and it is a pretty good app, but unless you have an iPhone and have mobile internet, a lot of its features won't work while you are at the park unless you go to an internet cafe.

Really the main useful features are a park map with lots of information and it has a GPS system that shows where in the park your Facebook friends are if you and your friends choose to enable that feature and are at the park at the same time. Could be useful if you are a local. It also shows you an event listing and a calendar with the park hours, and a description of each ride and food service location. There have also been rumors that they may post ride wait times on the app in the future.

It has some room for improvement, but it's free, so go download it and try it for yourself!

[Jp]

I wish I had an IPhone. I can ask my grandmother tomorrow if she wants it on hers. I think it great they are doing this to. Are the park maps the 2010 ones or the 2009 like their websites?

[nitrofan]

I wish I had an IPhone. I can ask my grandmother tomorrow if she wants it on hers. I think it great they are doing this to. Are the park maps the 2010 ones or the 2009 like their websites?

They are 2010 maps.

Also, it only has parks in the USA.

It works on the iPhone and iTouch, but you will need wifi for most of the features to work on the iTouch.

[Jp]

So you can check if you like the orange colors on Blowout and The Twister at SFFT? Whats your opinion on them?

[nitrofan]

So you can check if you like the orange colors on Blowout and The Twister at SFFT? Whats your opinion on them?

I really can't tell from an animation on my iPod. lol They have Mine Shaft painted yellow as well though.

[nitrofan]

I uploaded some screenshots of the app for another member on the site. If anyone has any specific requests for screenshots of the app, let me know, and I will do my best to get you a screenshot of it.

[Jp]

I would like to see:
SFMM 2010 Coaster
SFA Thomas Town

Do they have maps for the Seperate Water Parks. I would like to see the new Tornado at SFGAdv waterpark.?

[nitrofan]

I would like to see:
SFMM 2010 Coaster
SFA Thomas Town

Do they have maps for the Seperate Water Parks. I would like to see the new Tornado at SFGAdv waterpark.?

They do not have separate gate water parks, but they do have included water parks.

Here are your other pictures:

http://sfkkonline.com/forums/picture.php?albumid=24&pictureid=422

http://sfkkonline.com/forums/picture.php?albumid=24&pictureid=421

http://sfkkonline.com/forums/picture.php?albumid=24&pictureid=420

[Jp]

Ok thanks.!.!.

[bobbinbop20]

I just got this app, but unfortunately I don't have an iphone..

you can however download the park that your going to and all the functions will work without wifi, so it could be helpful at some time.....

[Austin]

National Roller Coaster Museum receives more historical vehicles (April 7, 2010) The National Roller Coaster Museum and Archives (NRCMA) recently received additional hardware to its ever growing collection of amusement park hardware and archives. The deliveries were made to its recently completed new two-story 2,400-square-foot warehouse in Plainview, Texas.

http://www.amusementtoday.com/image/April2010/BigBadWolf.gif
The first truck load of Busch Gardens Williamsburg Big Bad Wolf's cars and wheel assemblies arrive in Plainview, Texas

First up were three semi loads of vehicles, track, control panel, signage and other artifacts from Busch Gardens Williamsburg (Va.) and the recently removed Big Bad Wolf, an Arrow-suspended coaster. Prior to this delivery, the NRCMA did not have an Arrow Suspended Coaster vehicle in its growing collection. Also unique to this collection was the inclusion of two themed uniforms worn by ride operators on the big Bad Wolf, complete with Big Bad Wolf name tags.

http://www.amusementtoday.com/image/April2010/TexasGiant.gif
Texas Giant cars are loaded on Friday, April 2, 2010, at Six Flags Over Texas, for their trip to Plainview, Texas

Just before Easter, the NRCMA loaded up six PTC-built vehicles from the famed Texas Giant at Six Flags Over Texas. The Texas Giant is undergoing a massive $10 million makeover that will include a new track design and new vehicles. Other artifacts from the Texas Giant are still forthcoming to the NRCMA from the park.

"We are extremely thrilled to have received these great vehicles and artifacts from these two great theme parks," said NRCMA's Chairman Gary Slade. "These deliveries will help us to continue to keep our industry history alive and will give us the necessary hardware to display in a museum setting sometime in our future. We can't thank Busch Gardens Williamsburg and Six Flags Over Texas enough for these outstanding donations."

The NRCMA is based in Arlington, Texas. In its multiple storage facilities in Plainview, the museum now houses 82 vehicles of which 69 are roller coaster related. The NRCMA also houses signs, models, prints, photos and other unique and rare historical archives ranging in everything from roller coasters to waterslides.

At least Busch donated it to the NRCMA instead of scrapping it. Guess Six Flags donated their PTC trains since they were so close to it because knowing Six Flags they would have probably rehabbed them for use elsewhere.

[Jp]

Go on www.sixflags.com and watch the video of Mr. Six's Son in a commercial..

[nitrofan]

Has anyone seen any advertising for this in any of the parks yet?

I heard reports that they started this in SFOG and were getting very close to rides.

[nitrofan]

From Six Flags's Facebook:

It is with distinct pleasure that I inform you that effective today the plan of reorganization for Six Flags has officially been confirmed by the bankruptcy court.

Before explaining what this means to the Company, I want to emphasize in the strongest, most sincere terms, my admiration for the fortitude, focus and faith you have displayed despite the background noise of restructuring. I realize how frustrating, exhausting and perhaps dispiriting the last year has been. Still, you held firm and pushed through it all with remarkable dedication. Because of you and our unwavering investment in the product, our operation remains sound, our parks look better than ever, and our brand has never stood taller.

Over the next several days, the lawyers will finalize a multitude of details, and when the dust settles, Six Flags will have reduced its debt and mandatorily redeemable preferred stock from $2.7 billion last summer to approximately $1.0 billion (excluding seasonal drawings under our revolving credit facility at emergence). While we desired to achieve a lower debt level at emergence, keep in mind that our annual cash interest expense will have been significantly lowered to approximately $75 million. We also will have $725 million in new equity committed by our shareholders.

It would be hard to overstate what this new balance sheet means to the Company. Gone are the days when we were forced to pass on opportunities to improve our product and extend our brand because we simply couldn’t afford even a well-vetted and calculated risk. This, however, does not mean that we have an open checkbook. We always will be bound by our fiduciary responsibilities to all stakeholders, and accordingly must carefully weigh the wisdom of each new expense or capital investment. However, now that we are no longer wearing a fiscal straitjacket, we are free to evaluate new opportunities strictly on their merits.

I would be remiss if I didn’t remind everyone that having weathered this difficult and lengthy restructuring process, we need to continue to provide our guests with the best entertainment experience in our industry. Although we will not have to work under a crushing burden of debt, we still face formidable challenges from old and new competition made all the more difficult by the current economy.

Beginning today, we must re-dedicate ourselves to the proposition that our customers expect and deserve the friendliest, safest, cleanest and most prompt service. Our future success rests on our ability to provide an unforgettable experience. While we now have the financial strength to improve our product and to enhance, expand and extend the reach of our brand, it would be tragic if we forgot – or neglected – the road we traveled to reach this mark.

This day should indeed be celebrated, but is not the time to become complacent. We must stay the course, keeping our concentration, intensity and pride. Over the last few years, we have strengthened our company-wide bond and honed our skills. Now, with a new wind at our back, we are fully prepared to surge confidently into the future. Our potential has been multiplied and we must rise to the challenge. In my many discussions with our new Board of Directors, some of whom are continuing their service, I can assure you that the new Board is fully committed to our operational and strategic vision.

This chance will never come again. We’ve got our company back. Let’s reinvent and redefine the Six Flags Entertainment Corporation for every guest that walks through our gates.

I’m walking side by side with you.

Mark

[bobbinbop20]

Well, that was a pretty Inspirational speech, I've seen great things happen to the quality of Six Flags Parks over the past few years, and I'm just loving everything this company is doing more and more every day, even If ditching seemed wrong, It really was in there best interest..

[nitrofan]

^Me too. No more consistent 1 train operations, rude employees, run-down/unsafe parks, and hopefully no more parking lot coasters.

I'd like to see what they can do now that they will have a little more financial freedom. Maybe a B&M or Intamin themed on the level of Terminator?:)

[bobbinbop20]

I'm interested to see how there gonna theme Chang... should be pretty good because most of there recent theming jobs have been :)

[MadCard05]

I'm interested to see how there gonna theme Chang... should be pretty good because most of there recent theming jobs have been :)

They might not get to keep Chang. According to their lease agreement, since they didn't place the Water Park in Kentucky Kingdom Chang should technically revert back to the property of the KFEC. They filed a lawsuit against SF claiming theft by deception of the ride.

[nitrofan]

Here we go again...

[DarienLake:D]

I am glad to see Six Flags is turning around. Maybe when they get out of debt ticket prices will drop a little so it would attract more families because a family of 4 (2 adults & 2 kids) at Darien Lake would cost $129.96 without tax. And say SFNE which is slightly smaller then Darien Lake it would cost $147.96 without tax. And even parking... I thought Darien Lake's parking was a bit pricey till i saw the price for basic parking for most of the SF parks. Parking is $8 a day at DL and season parking is $19. SFNE basic parking is $15 and season parking is $50 Now i know SFNE is open longer then Darien Lake. Darien Lake is opening May 8th. And SFNE is already open on weekends with the exception of spring break they opened April 10th. Now you would think the park thats open less would be the more expensive one when it comes to things like that. Also before Six Flags sold Darien Lake park admission was $39.99 without tax. The next year after the sale it was $37.99 and then 2008 when motocoaster opened it went down again to $35.99. 2009 it only went up a dollar. And 2010 its back to $39.99 but thats after 1 roller coaster, a water park expansion, new cabins for the campground ext ext all there doing for 2010. By the way im not using Darien Lake cause im in love with it. But more as an example because its an Ex six flags park. And i used SFNE because i am looking into going to that park this summer i am still interested in Six Flags parks i have always liked them but once i heard about the debt i was kind of glad they turned Darien Lake over. i was afraid that six flags would of went under like example hard rock park/ Freestyle Music Park

[cory]

Here we go again...

What do you mean here we go again nobody knows what is going to happen with Chang there is still going to be speculations about it.

In three more years Six Flags will be back on top with all these great deals they got like play passes only for Thirty dollars. Another reason was Kentucky Kingdom was killing Six Flags KK was making loose money. Its really Six Flags own fault because they was not even adding ny rides tot he park and was not operating right. Kentucky Kingdom is one of the reasons why Six Flags file Bankrupt. Six Flags got a very bright future.

[nitrofan]

^I really just said that because unless someone has any real information on the trial, there really is no use discussing Chang anymore. Until we have anymore information, it's just beating a dead horse.

[Austin]

Its official. Chapter 11 is in the rear window and the future is looking bright. Also managed to regain some of my respect by getting rid of that idiot Snyder.

[Vic]

Snyder is gone? Eh they still have Shapiro though...

[Austin]

Still half as evil. Now if only the redskins can get rid of him football might be enjoyable in washington.

[gl2007]

Just found this article a couple of minutes ago:

http://finance.yahoo.com/news/Six-Flags-President-and-CEO-apf-3025612767.html?x=0&.v=1

"NEW YORK (AP) -- Six Flags Entertainment Corp., which emerged from bankruptcy protection earlier this month, said Wednesday that President and CEO Mark Shapiro is no longer with the company.

The theme park operator provided no further details on Shapiro's departure and named Alexander Weber Jr. as president and interim CEO.

Weber previously served as president and CEO of Paramount Parks Inc.

Six Flags said it has hired an executive search firm to find a permanent CEO and will consider both internal and external candidates.

The company sought bankruptcy protection in June, weighed down by high debt and declining park attendance."

[Austin]

Hmm :) Justice is served.

[Shayne]

Sounds like any and all details during the fan call about a month back in now in the air.

[gl2007]

I'm wondering how, or if, this will effect the Kentucky Kingdom situation.

[bobbinbop20]

nooooooooo! I love Shapiro

[Austin]

Maybe it will change it.

Theyre out of debt, they technically wont have to spend much to take the park back, they still own their share of the land and will likely get a few hundred K's off the lease payments. Plus the liar is out of the executive office :)

[Vic]

where is the "like" button?

[Austin]

Haha I know right. But After thinking about it, the interim CEO is pretty good. He built up the Paramount franchise and brought LIM to the forefront of coaster design.

[Vic]

yea i just have a bad feeling they end up hiring another top dollar scrub from another business like they did with Shapiro...

[Shayne]

Before we start praising him, remember that during his reign at paramount, they often build multiple clones to save money. Now from a business standpoint this is a genius thing, however from the enthusiast point of view how thrilled are you going to be to travel to other six flags parks if his tactics carry over....

[palmer]

I'm just happy. A change was needed. And coasterguy, if you look at SF parks, I see THBS, B:TR, TDK, Boomerang clones, and S:UF as clones at more than 2 parks. Plus, there was or is, from what I can remember, 3 LIM coasters, Two Mr. Freezes and Chiller. Although Chiller had problems (which is somewhat odd for Premier coasters), LIM has been fine. Seeing some LIMs around SF Nation would be nice. Plus, he can make the rumored Terminator clone work out.

[Vic]

I'm looking at it from an employee's point of view... the only 2 things worst then Mark Shapiro in that case are Keiren Burke and Gary Story....

[nitrofan]

Plus the liar is out of the executive office :)

That's really not a fair statement unless you have proof I'm unaware of.

I have mixed feelings on this. He did so many good things for the parks that I hope don't get reversed. Ya, he had his faults, but most things he did were good.

Hopefully whoever becomes the real CEO will keep the good changes and begin building real attractions.

Everyone seems to be loving this new guy because he worked for Paramount, and while the Paramount parks look great from the internet, I can say from experience that the guest experience wasn't as good as Six Flags was in 2009.

[Austin]

Thats what Shapiro did also.

Batman clones, Mr. Freeze, Big Spin.

I can only name Italian Job and FOF as his and they are certainly better clones then the others and they add a slightly different twist in each clone.

[Jp]

I am just glad that I met Mark in February.

[cory]

This will not change nothing about Six Flags leaving Kentucky Kingdom.

[MadCard05]

I loved Six Flags + Looney Toons, but I hated that they neglected Kentucky Kingdom after 2007. It was pretty obvious they were dumping us from 08 to 09, but they smiled like nothing was wrong and just told us to rough it.

[DarienLake:D]

i liked SF until they sold Darien Lake.. thats when i found out they were so deep in debt.. And was skeptical of the new owners for a year then i started getting season passes again and found the park to be doing better without SF. The only good thing they brought to the park was Ride of Steel which was an original until they cloned AND mirrored it all at once. Though i like the setting where it is at Darien Lake... it fits better then where it is at SFA.. its just in the open. The one at DL is in between the road and water park. And that flat track goes over the water at Darien Lake and is amazing to see. SFA its just grass and looks kinda weird. If the CEO who was just booted in charge of Ride of Steel at DL i congratulate him then say FU cause he neglected the park after that.

[nitrofan]

i liked SF until they sold Darien Lake.. thats when i found out they were so deep in debt.. And was skeptical of the new owners for a year then i started getting season passes again and found the park to be doing better without SF. The only good thing they brought to the park was Ride of Steel which was an original until they cloned AND mirrored it all at once. Though i like the setting where it is at Darien Lake... it fits better then where it is at SFA.. its just in the open. The one at DL is in between the road and water park. And that flat track goes over the water at Darien Lake and is amazing to see. SFA its just grass and looks kinda weird. If the CEO who was just booted in charge of Ride of Steel at DL i congratulate him then say FU cause he neglected the park after that.

Superman at SFA is a fun ride, but it does feel very weird will all of the long flat sections. It's an airtime hill, a very intense helix, then a long flat section followed by a very extreme airtime hill. It has lots of "Ok, what do we do now?" moments.

Superman: Ride of Steel came long before Shapiro's time. I believe Darien Lake was sold right after Shapiro came in.

[DarienLake:D]

Superman at SFA is a fun ride, but it does feel very weird will all of the long flat sections. It's an airtime hill, a very intense helix, then a long flat section followed by a very extreme airtime hill. It has lots of "Ok, what do we do now?" moments.

Superman: Ride of Steel came long before Shapiro's time. I believe Darien Lake was sold right after Shapiro came in.

yeah well if you ride it at DL you will think better of the ride. But then again its better then that parking lot theme you often see lol!

[nitrofan]

Just a thread to discuss all of the crazy train wraps from Six Flags. Here is a list from all of the ones I am aware of so far:

Six Flags Great Adventure
-El Toro: Stride Gum
-Kingda Ka: Karate Kid
-Great American Scream Machine: Axe Body Spray

Six Flags Over Georgia
-Georgia Schorcher: Georgia Power Company
-Ninja: Axe Body Spray
-Mindbender: Karate Kid

Six Flags St. Louis
-Ninja: Stride Gum

Six Flags Over Texas
-Flashback: Stride Gum
-Shockwave: Axe Body Spray
-La Vibora: MCS Wireless Internet

Six Flags Fiesta Texas
-Boomerang: Stride Gum
-Poltergeist: Karate Kid

Six Flags Magic Mountain
-Ninja: Karate Kid
-Viper: Hair Gel

Six Flags Great America
-Whizzer: Grown Ups
-Demon: Stride Gum

The Great Escape
-Screamin' Demon: Axe Body Spray
-Boomerang: Stride Gum

Six Flags Discovery Kingdom
-Kong: Axe Body Spray
-Boomerang: Stride Gum

Six Flags New England
-Pandemonium: Karate Kid
-Boomerang: Stride Gum

Let me know if I missed any.

If it's just a few rides and the ads at least kind of go with the ride's theme, I don't mind too much, but this is getting ridiculous. I guess this is what ot takes to get out of debt...

[Jp]

I wonder how SFA and SFDK havn't got any yet?

[nitrofan]

I wonder how SFA and SFDK havn't got any yet?

SFNE hasn't gotten any yet either. I bet SFDK will get Stride on Boomerang, SFA will get something on either Joker's Jinx, Superman, or a woodie. SFNE will probably get stride on Flashback and maybe an ad on a woodie.

[SFNE Expert]

SFNE isn't getting any. It just has Karate Kid banners plastered all over Pandemonium. A huge one over the break run and on the fence.

[Changsucks]

I just don't get why the train has to be covered...? Other than that I'm fine, but covering the train is just making everything look tacky when they shouldn't even need to cover it.

[sccard01]

If KK was still open, Greezed Lightin' may have been covered with Axe.

[nitrofan]

if kk was still open, greezed lightin may have been covered with axe

Wasn'y it covered in Mayo ads last year?

[palmer]

Um.....

Great American Scream Machine: Hair Gel

It's now AXE Twist. Look here (http://twitpic.com/1o3mo6)!

[DarienLake:D]

that is sooo tacky looking i could understand maybe the station and around the ride with signs... but on the trains it looks sooo tacky...

[palmer]

^I actually like the AXE Twist ad on GASM. It fits the train nice.

[Jp]

http://news.moneycentral.msn.com/provider/providerarticle.aspx?feed=PR&date=20100517&id=11517376

Six Flags Entertainment Announces First Quarter 2010 Results

May 17, 2010 9:00 AM ET advertisement

Article tools E-mail this article Print-friendly version Discuss this articleRelated topicsEarnings ReportsRecent investing newsMarriott International to Speak at Baird 2010 Growth Stock Conference on May 20; Investors and News Media Invited to WebcastWorry that Gulf oil spreading into major currentThirty-Eight Women Entrepreneurs Reach Make Mine a Million $ Business GoalUPDATE 1-India's GAIL sees $1.8 bln capex in FY11US copper below $3/lb on euro debt fears
All PR Newswire newsSix Flags Entertainment Announces First Quarter 2010 ResultsPR Newswire

NEW YORK, May 17

NEW YORK, May 17 /PRNewswire/ -- Six Flags Entertainment Corporation (formerly Six Flags, Inc.) announced today its consolidated operating results for the quarter ended March 31, 2010.(1) The first quarter historically represents approximately 5% of the Company's annual revenues.

Three Month Results

Total revenue of $57.3 million increased 12% from the prior-year quarter's total of $51.1 million, primarily reflecting $4.3 million of revenues from the Six Flags Great Escape Lodge and Indoor Water Park ("Lodge"), the results of which were consolidated in the first quarter of 2010 as a result of adopting new consolidation accounting rules (Financial Accounting Standards Board Accounting Standards Codification Topic 810, Consolidation).(2) Excluding the consolidation of the Lodge, total revenues increased $1.8 million, or 4%, reflecting increases in food, merchandise and other revenues, as well as increased attendance.

Per capita guest spending, which excludes sponsorship, licensing and other fees, increased 3% to $35.44 in the first quarter of 2010 from $34.27 in the prior-year quarter, reflecting increased per capita in-park spending, partially offset by decreased season pass pricing. Included in the higher guest spending is the favorable exchange rate impact at our Mexico City park in the current-year quarter, affecting U.S. dollar translated results. Exchange rates accounted for approximately $1.02 of the guest spending per capita increase for the current quarter compared to the prior-year quarter.

Cash operating expenses(3) for the first quarter increased $6.0 million, or 5%, to $118.7 million compared to the first quarter of 2009, reflecting increased expenses primarily due to the consolidation of the Lodge, the currency impact at our Mexico City and Montreal parks and increased insurance and operating taxes, partially offset by decreased employee benefits and advertising costs. The Lodge consolidation and the currency impact at our Mexico City and Montreal parks accounted for $4.3 million of the $6.0 million increase over the prior-year period.

Non-cash operating expenses comprised of depreciation, amortization, stock-based compensation and loss on disposal of assets decreased $0.1 million in the first quarter of 2010 to $37.9 million, compared with $38.0 million in the first quarter of 2009.

The Company's loss from continuing operations in the first quarter of 2010 increased by 32% to $180.7 million compared to $137.0 million in the prior-year quarter. The increase was driven by (i) increased interest expense primarily reflecting post-petition interest owed on the $400 million Senior Notes due in 2016, partially offset by reduced interest expense reflecting the cessation of interest accruals on the Company's debt subject to compromise as a result of the Chapter 11 Filing, and lower effective interest rates, (ii) reorganization costs associated with the Chapter 11 Filing, (iii) increased cash operating expenses, and (iv) increased income tax expense, partially offset by increased revenue.

Adjusted EBITDA(4) loss for the current quarter remained relatively flat at a $60.0 million loss compared to a $59.5 million loss for the prior-year quarter, reflecting the impact of increased revenues partially offset by increased cash operating expenses.

Recent Developments

On June 13, 2009, Six Flags, Inc., Six Flags Operations Inc. and Six Flags Theme Parks Inc. ("SFTP") and certain of SFTP's domestic subsidiaries (collectively the "Debtors") filed voluntary petitions for relief (the "Chapter 11 Filing") under Chapter 11 in the United States Bankruptcy Court for the District of Delaware (the "Bankruptcy Court") (Case No. 09-12019).

In February 2010, in connection with the Chapter 11 Filing, the Company decided to reject the lease with the Kentucky State Fair Board relating to the Company's Louisville park and the Company no longer operates the park. The results of operations for the Louisville park were classified as discontinued operations in all periods reported.

On April 1, 2010, the Debtors filed with the Bankruptcy Court their Modified Fourth Amended Joint Plan of Reorganization under Chapter 11 of the Bankruptcy Code (the "Plan"). On April 30, 2010 (the "Effective Date"), the Bankruptcy Court entered an order confirming the Plan and the Debtors consummated their restructuring through a series of transactions contemplated by the Plan and the Plan became effective pursuant to its terms. On the Effective Date, Six Flags, Inc. changed its corporate name to "Six Flags Entertainment Corporation."

As a result of the consummation of the Plan, indebtedness of approximately $2.4 billion and the PIERS obligation of $306.6 million were cancelled, and new debt of approximately $1.0 billion was issued (excluding the Company's new $120 million revolving credit facility). As a result of the lower debt burden, the Company's annual cash interest expense will be significantly reduced to approximately $77 million, based on current interest rates.

The common stock of Six Flags, Inc. was also cancelled, and new common stock of Six Flags Entertainment Corporation was issued to the new stockholders. The Company intends to apply to list the new common stock on the New York Stock Exchange.

Pursuant to the 2010 annual offer, we received "put" notices from holders of partnership units in Six Flags Over Texas and Six Flags Over Georgia (including Six Flags White Water Atlanta) with an aggregate "put" price of approximately $5.6 million, of which the general partner of the Georgia limited partnership elected to purchase 50% of a portion of the Georgia units that were "put" for a total purchase price of approximately $0.8 million. As a result, we will purchase 1.77 units of the Texas partnership and 0.83 units of the Georgia partnership for approximately $4.8 million using our available cash.

On May 11, 2010, Alexander "Al" Weber, Jr., was named our President and Interim Chief Executive Officer, and we announced that we are retaining an executive search firm and will consider both internal and external candidates to serve as our Chief Executive Officer on a permanent basis. Effective as of May 11, 2010, Mark Shapiro is no longer serving as our President and Chief Executive Officer, and effective as of June 10, 2010, he will no longer be with the Company. In addition, Mark Jennings resigned as a member of our board of directors effective as of May 11, 2010.

About Six Flags Entertainment

Six Flags Entertainment Corporation is a publicly-traded corporation headquartered in New York City and is the world's largest regional theme park company with 19 parks across the United States, Mexico and Canada.

Forward Looking Statements:

The information contained in this release, other than historical information, consists of forward-looking statements within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. These risks and uncertainties include, among others, the potential adverse impact of the Chapter 11 Filing on Six Flags Entertainment's operations, management and employees; customer response to the Chapter 11 Filing; and the risk factors or uncertainties listed from time to time in Six Flags Entertainment's filings with the Securities and Exchange Commission ("SEC") and with the Bankruptcy Court in connection with the Chapter 11 Filing. In addition, important factors, including factors impacting attendance, local conditions, events, disturbances and terrorist activities, risk of accidents occurring at Six Flags Entertainment's parks, adverse weather conditions, general financial and credit market conditions, economic conditions (including consumer spending patterns), competition, pending, threatened or future legal proceedings and other factors could cause actual results to differ materially from Six Flags Entertainment's expectations. Although Six Flags Entertainment believes that the expectations reflected in such forward-looking statements are reasonable, it can give no assurance that such expectations will prove to have been correct. Reference is made to a more complete discussion of forward-looking statements and applicable risks contained under the captions "Cautionary Note Regarding Forward-Looking Statements" and "Risk Factors" in Six Flags Entertainment's Annual Report on Form 10-K for the year ended December 31, 2009 and its other filings and submissions with the SEC, each of which are available free of charge on Six Flags Entertainment's website http://www.sixflags.com.

(1) Reported results from continuing operations for all periods presented exclude the results of parks sold in prior years, as well as the park in New Orleans, Louisiana, which has been closed since August 2005 due to damage caused by Hurricane Katrina. The Company terminated its lease with the City of New Orleans and settled the related litigation. Furthermore, the results from continuing operations exclude the results of the park in Louisville, Kentucky, which the Company no longer operates as a result of rejecting the lease in February 2010 in connection with the Chapter 11 Filing.

(2) Results for 2009 have not been adjusted to reflect the consolidation of the Lodge.

(3) Cash operating expenses are presented as costs and expenses excluding depreciation, amortization, stock-based compensation and loss on disposal of assets in the statement of operations data.

(4) See the following tables and Note 3 to those tables for a discussion of Adjusted EBITDA and its reconciliation to net loss.

[Changsucks]

But it's still tacky.

[nitrofan]

Well the increased revenues is a good sign. I guess the expenses will work out eventually.

[nitrofan]

And now the ads have come to SFDK...

[SFNE Expert]

They have yet to hit SFNE. I wonder why. Flashback is sponsored by Stride, it used to be Heinz, Cyclone is sponsored by M&Ms, and Mind Eraser is sponsored by Snickers. I can only see a wrap on Flashback since we haven't seen M&M train wraps....yet.

[nitrofan]

I can only see a wrap on Flashback since we haven't seen M&M train wraps....yet.

Careful. SLC's are starting to get wrapped too.

[nitrofan]

That's cool that they did this, but an old PTC train is hardly an artifact.

[Austin]

I think its for the paint or its history at Texas Giant.

[DarienLake:D]

wow... jeeze who's tacky idea was this anyways?

[SFNE Expert]

TGE's Boomerang was hit with Stride, that can be added to the list. Steamin' Demon has Axe Twist not Stride.

[nitrofan]

TGE's Boomerang was hit with Stride, that can be added to the list. Steamin' Demon has Axe Twist not Stride.

Thanks, it was added to the list. I really wish this would stop.

wow... jeeze who's tacky idea was this anyways?

Probably Shapiro's.

[Changsucks]

I know, I wonder how far this will go... Could it eventually take over every ride?

[SFNE Expert]

No, it seems like, with the exception of Kingda Ka and El Toro, that they are only putting them on older coasters.

[nitrofan]

^They don't have many new coasters though. El Toro is 4 years old, it's not a new coaster anymore.

I know, I wonder how far this will go... Could it eventually take over every ride?

That's kind of what I was worried about. Every time I think it's not possible to put an ad on a certain train, they prove me wrong. The ads on Kong are a good example.

[SFNE Expert]

Confirmed on Flashback at SFNE.

This is making me stick to my stomach but they wrapped Pandemonium with Karate Kid. Disgusting.

[say hi]

This may sound negative, well...it IS negative.
but those train wraps are completely and utterly disgusting.

[Austin]

I have to agree with that haha.

[SFNE Expert]

http://i226.photobucket.com/albums/dd76/acquaz10/0_1-13.jpg

http://i476.photobucket.com/albums/rr124/SFNE_ONLINE/Splash%20Island%20May%2029%202010/splashIslandandglowparade004.jpg

http://i226.photobucket.com/albums/dd76/acquaz10/0_1-14.jpg
Blaahhhhhhhhh

[palmer]

^That looks worse than Kingda Ka's Karate Train. At least GADV put it on the Orange Train, at least blending in with the train. KK's stickers look nice.

[Kevin]

Eww.. those are some ugly trains!

[SFNE Expert]

I like Flashbacks but I can't stand Pandemonium's.

[nitrofan]

Well the good news is that Karate Kid will be gone by next season. Maybe they won't get a replacement ad next year.

[palmer]

^Yeah, and that's what people thought with Fly Me To The Moon. Last year, the pre show still said, "In Theaters August 2008".

[nitrofan]

^Yeah, and that's what people thought with Fly Me To The Moon. Last year, the pre show still said, "In Theaters August 2008".

Well Revenge of the Mummy still has a poster that saus "In theaters 2004".

[SFNE Expert]

No it doesn't it has the ones for the newer movie now haha.

[Jp]

I hope this is the last week of the Karate Kid ads on the coaster!!

[nitrofan]

I hope this is the last week of the Karate Kid ads on the coaster!!

I'm sure they will go at least most of the summer. The movie will still be in theaters.

[palmer]

I hope this is the last week of the Karate Kid ads on the coaster!!

Good luck with that one. SF will probably keep that on. Fly Me To The Moon. All I have to say.

[DejaVu2001]

I don't know about the rest of the parks, but SFGAm has removed all the Karate Kid ads from Whizzer and re-wrapped the trains for the movie "Grown Ups". From what I heard, they already have another movie lined up for after Grown Ups is in theaters on 6/25.

[nitrofan]

I don't know about the rest of the parks, but SFGAm has removed all the Karate Kid ads from Whizzer and re-wrapped the trains for the movie "Grown Ups". From what I heard, they already have another movie lined up for after Grown Ups is in theaters on 6/25.

I really wish they would just build movie themed rides if they want to advertise for movies so badly.

[palmer]

I really wish they would just build movie themed rides if they want to advertise for movies so badly.

They have: TDK, B:TR (back in the movie in the early 90's), FMTTM, etc. Some of them were good, some failed. Recently, they haven't been the best.

Plus, with this hell-hole of an economy, this is helping SFI get money. Yet, i wish Weber would do something about this.

[Jp]

La Vibora at SFOT has some train wraps now. Photo from TPR..

http://themeparkreview.com/forum/files/img_1320_0.jpg

[SFNE Expert]

I guess Weber is a fan of the wraps.

[Shayne]

I think they keep looking worse and tackier every time.

[nitrofan]

I guess Weber is a fan of the wraps.

Not nescecarily. These contracts were probably signed months ago and there is nothing Weber can do to get out of them. If the ads continue next season, then it would be fair to say that Weber supports them.

[palmer]

I just realized, with GADV removing GASM, they lose a sticker slapped ride! (yet losing a ride like GASM, which can pack a punch at times is never fun.)

[nitrofan]

I just realized, with GADV removing GASM, they lose a sticker slapped ride! (yet losing a ride like GASM, which can pack a punch at times is never fun.)

I wonder if the Axe ads will be moved ot another ride...

[palmer]

I wonder if the Axe ads will be moved ot another ride...

Gathering GADV has no other Arrows and I would be hard to re-shape the sticker to put it on El Toro, the only ride probably long enough to have GASM old sticker. Plus, El Toro has the Stride "Pinata" train. Two trains, two different brands, one ride. That would look weird.

[Truth Seeker]

I would not be surprised if Six Flags attempted to smack that AXE ad onto the second train on El Toro.

[DarienLake:D]

or maybe the will just put on a new sticker on a different ride at there own expense...

[palmer]

Hope not. It's bad enough two famous coasters, that shouldn't have any stickers or ads and what not, are sticker slapped along with another coaster. Although I like GASM's Axe train, having that on El Toro would be nasty. Maybe they would hit a ride like Nitro with it. I hope it doesn't happen (knock on wood) but time will tell.

[Jp]

Reported from Screamscape:

Six Flags - (7/11/10) I’ve heard a new rumor that the new board at Six Flags is making plans to not only roll out a new marketing campaign for the chain’s 50th Anniversary next year, but once again it sounds like Mr. Six may be retired and sent back to the old folks home once again.

Me and my family like the dude for some reason, and it would be said if they put him back in the old folks home..=(

[Truth Seeker]

Well hopefully Weber will have a somewhat reasonable explanation for removing our beloved Mr.Six.

[David]

From what I heard Shapiro is looking to start his own park chain, buying smaller parks and bringing them to fruition.

This may not be the last of Shapiro. Again, I can't CONFIRM any of this, it's all rumors, but I hope he does do this, and even builds a park in Chicago so that Great America has a reason to build more thrill rides.

[SFNE Expert]

I would support that 100% Where did you hear this?

[David]

I would also support this, and this doesn't sound reliable, but a friend of mine's dad went to school with Shapiro, and is still in touch with him. I heard that Shapiro was only removed because the only one backing him on the board was Snyder, and when Snyder left, he had no more support, and they yanked him out.

[SFNE Expert]

Thats part of the reason... Not quite though... On SFGAM World you posted the SEC thing, do some more Google searching. You'll find the answer.

[Truth Seeker]

Let't not forget about Kieran. Recently he bought Nashville Shores waterpark and attempted to buy Kentucky Kingdom.

[Austin]

He did?

[Vic]

Kieren and Gary Story's group.

[DarienLake:D]

Oh boy this should be interesting!

[Truth Seeker]

I've known this for months but I had been waiting to see if anyone else noticed it.

[David]

Shapiro has gotten some of the best experience from one of the biggest theme park operators in the world. He can easily start a successful amusement park, and he's got Moneybags Snyder backing him 250%. He can pull off a takeover of a park like Kentucky Kingdom and have made it excellent. I'm just waiting for more news from my friend. I'll keep you guys posted. :)

Also, I would have bought a Season Pass to a Kieren Burke Kentucky Kingdom! I freaking love that guy!

[Truth Seeker]

You and I David have very different views...

[Vic]

Kieren was horrendous... almost as bad as Gary Story...

[Austin]

While I agree he can renovate just about any park, he could not do Kentucky Kingdom.

[David]

Kieran had the right idea with Six Flags, give a park some major attractions, let it sit for a bit, and BANG, hit it with some good rides, and you've got a winner.

Shapiro would run a park with 15 Roller Skaters.

[David]

Alright. A little update here. Shapiro is looking into properties in the midwest. Not sure where exactly, but from what I hear, he wants a park to bring a big thrill park to Northeast Indiana. I'll keep you guys updated on as much information as I can get. I also hear, he has a few investors from Red Zone along with Snyder.

[Austin]

Thats a fail waiting to happen. Cedar point will crush him. It will take alot of effort to compare to CP.

[David]

I don't think he's aiming at CP, I think he's looking at an open market. Many people in Indiana aren't willing to travel up to GAm, so here is a park to take it all over. He can do it. I know he can. I have faith that Shapiro can make a dent in Great America.

[Austin]

Wouldn't that be the North West then?

[David]

That was a typo on my part! ;) Yes, Northwest. Never Eat Soggy Waffles.

[Austin]

Lol we learned our directions differently, Never Ever Smoke Weed. Lol

[David]

Hahahah! All I know is that Shapiro wants to get back at Six Flags some way.

He must be angry to have left like that.

[Truth Seeker]

Shapiro will ride his little Roller Skater all the way to success!

[SFNE Expert]

Thats what you guys think :) He had some big plans for Six Flags actually. Sad that they didn't get to happen.

[Truth Seeker]

Been talking to the Dippin Dots guy ay?

[DarienLake:D]

haha i should talk to the dippin dots guy here see what they have to say lol! Must be amusing since you guys joke bout it!

[SFNE Expert]

Yeah he knows a lot actually ;)

[DarienLake:D]

lol! maybe the "dippin dots guy" gets paid to feed you lies ;)

[David]

I have a mini-update. Shapiro is talking to Kiaren Burke about having Kiaren opening a Water park, alongside his property.

If I'm getting this right, Shapiro is attempting a DIRECT hit at Great America, the water park AND amusement park.

[nitrofan]

While I agree he can renovate just about any park, he could not do Kentucky Kingdom.

You also have to consider the negatives of KK though. It already had a horrible reputation and had huge lease payments on it as well.

[Austin]

It didnt have a bad reputation at all. I was talking about he couldnt renovate it in his new group he formed. We wouldnt accept him to own the park. No one liked him that worked for him so morale would be at all time lows. Plus he doesnt take care of any parks he owns.

[nitrofan]

It didnt have a bad reputation at all. I was talking about he couldnt renovate it in his new group he formed. We wouldnt accept him to own the park. No one liked him that worked for him so morale would be at all time lows. Plus he doesnt take care of any parks he owns.

All you had to do was talk to people at SFKK and you would hear about it. NW Territory closing just made everyone think the park was preparing to close. People were just walking up to us warning us about what to avoid because they didn't think it was safe.

I'm sorry that Shapiro screwed up SFKK, but he put the rest of the parks in the best shape they had been in years.

[Truth Seeker]

I have a mini-update. Shapiro is talking to Kiaren Burke about having Kiaren opening a Water park, alongside his property.

If I'm getting this right, Shapiro is attempting a DIRECT hit at Great America, the water park AND amusement park.

What is your source?

[Austin]

All you had to do was talk to people at SFKK and you would hear about it. NW Territory closing just made everyone think the park was preparing to close. People were just walking up to us warning us about what to avoid because they didn't think it was safe.

I'm sorry that Shapiro screwed up SFKK, but he put the rest of the parks in the best shape they had been in years.

No one warned anyone about the safety of rides. The rides were completely safe. Superman wasnt 100% KK's fault. Anyone who looked at it closely would know that.

[nitrofan]

No one warned anyone about the safety of rides. The rides were completely safe. Superman wasnt 100% KK's fault. Anyone who looked at it closely would know that.

I didn't say they aren't safe, and I believe they are. I was just saying that lots of people said some of them aren't. Just from me being social in lines I heard a lot of the GP gossip about the park. They all thought the park was closing soon and there were lots of rumors about unsafe rides.

My point was that with the exception of SFKK, Shapiro did take good care of the parks he owned. He only had the job for 4 years, he did a good job with the resources he had.

[Truth Seeker]

Now as all of you know I despise Shapiro. Though I have to admit he kept the parks clean, stopped gang trouble in parks like SFA, and helped Six Flags out of debt. All that aside he neglected KK, staff efficiency was horrible at numerous parks, and focused far too much on little children, I admit most Six Flags parks needed attractions for children just not children four and under.

[nitrofan]

Has anyone seen any of these ads start to disappear yet or are they still going strong?

"Pinata" train.

Wow, that's looking on the bright side!

[Jp]

When went on July 5th, Poltergeist doesn't have the Karate Kid ads on it no more, but Boomerang still had Stride on it..

[SFNE Expert]

The Stride ones are staying for the rest of the season I bet. All the Karate Kid ones are gone. SFNE now has M&M's falling on the stairs that go over the street to get into the park, and leaving the park they have big tongues advertising the new Trident gum.

I don't get why SF partnered with the three major gum companies, Stride, Trident, and Dentyne, lol.

[Shayne]

Teenage kids like gum....

[nitrofan]

I don't get why SF partnered with the three major gum companies, Stride, Trident, and Dentyne, lol.

All three offered to pay Six Flags money, that's why.

[SFNE Expert]

But wouldn't one of the companies feel a little ripped off they're advertising their competitors?

[DarienLake:D]

Ugh i might be going to SFGAdv late august and i will see these train wraps in person... i bet they will look uglier in person...

[nitrofan]

Ugh i might be going to SFGAdv late august and i will see these train wraps in person... i bet they will look uglier in person...

It sounds like El Toro is the only one that is left, and people say it's not as bad in person. Just think of it as a pinata train. :D

[DarienLake:D]

Ok im still kinda mad at SF about all this but thats not gonna stop me from riding a B&M Floorless and Flying, an Intamin Wooden coaster and might as well ride Kingda Ka... As long as i get in those rides i will be happy :D

[Truth Seeker]

Watch out DL I've heard 2+ hour wait times for El toro.

[DarienLake:D]

Watch out DL I've heard 2+ hour wait times for El toro.

Im going on a Wednesday i heard its about 1 hour max (for a few rides) in the middle of the week

[Truth Seeker]

Oh well then never mind!

[DarienLake:D]

Honestly i would rather go to SFGAdv then KD because i have never been on a B&M Floorless, B&M Flying, or an Intamin Woodie. At KD there was only 2 types of rides i have not been on and thats Intamin Impulse (complete Circuit), and B&M Floorless

[darienlake]

I found out an interesting website that gives you a lookback at a website.
All links work in the Archived site. So have a seat and explore the site. Heres what Six Flags Website Looked in:

1996 Website: http://web.archive.org/web/19961230180221/http://www.sixflags.com/

2002 Pick a Park: http://web.archive.org/web/20020207195603/www.sixflags.com/pickapark.html

2004 Website: http://web.archive.org/web/20040524093957/http://www.sixflags.com/

2006 Website: http://web.archive.org/web/20060101031118/http://sixflags.com/

Enjoy!

[nitrofan]

Cool thread! Thanks for posting!

I remember the 2004 and 2006 websites, but none before that. The blue one is so much better though.

Before seeing the 2002 version, I never realized how many parks the chain had!

[Austin]

I remember using the park locator back in 2004 and the subsequent versions. I like how KK had more of the 2009 look to it than the red and black style. Thought that was weird.

[Truth Seeker]

Wow it's hard to believe just how large SF used to be.

[SFNE Expert]

Ahh, look. Its the old, and better, Mr. Six. Good times. Good times. Now its the photoshopped/animated/even creepier one. I remember the '04, and '06 sites also. When did they get a total rehaul though? In 2007?

[Austin]

Well looking at park pages in 2006 they started representing the new look but the homepage was still the 2004 version. Wonder when they will re-do the look next since its been almost 3 years of a nearly identically look.

[Truth Seeker]

I like the look they have know, of course it does seem time that the site receives a remodel.

Ahh, look. Its the old, and better, Mr. Six. Good times. Good times. Now its the photoshopped/animated/even creepier one. I remember the '04, and '06 sites also. When did they get a total rehaul though? In 2007?

If my memory serves me correct then 07 was the year the site recieved the overhaul.

[SFNE Expert]

http://www.prnewswire.com/news-releases/james-reid-anderson-named-chairman-president-and-chief-executive-officer-of-six-flags-entertainment-corporation-100615754.html

DALLAS, Aug. 13 /PRNewswire-FirstCall/ -- Six Flags Entertainment Corporation (NYSE: SIX), the world's largest regional theme park operator, today announced that James Reid-Anderson has been named the Company's Chairman, President and Chief Executive Officer, effective immediately.

Mr. Reid-Anderson, 51, previously served as Chairman, President and Chief Executive Officer of Dade Behring Holdings. Dade Behring emerged from Chapter 11 in September 2002 and under Reid-Anderson's guidance, Dade Behring established itself as a leader in customer excellence, innovation and shareholder value creation. In 2007, Dade Behring was sold to Siemens AG and following the completion of the transaction, Reid-Anderson served as CEO of the Siemens Healthcare Diagnostics Division, and then was promoted to CEO of the Siemens Healthcare Sector and appointed a member of the Siemens Managing Board.

"Jim is an exceptional CEO, and he brings to Six Flags an outstanding track record of shareholder value creation," said Usman Nabi, Executive Chairman of the Board of Six Flags and Senior Partner at H Partners. "As past investors in Dade Behring, we understand the value Jim delivers to shareholders, and the Board is confident that he will repeat this success at Six Flags."

Mr. Nabi continued, "I'd like to acknowledge the tremendous work of Al Weber, who has served as Interim CEO over the last three months. Under Al's leadership, we've streamlined our operations and re-focused our organization on our core theme park business. Al's deep industry experience will complement Jim's capabilities."

Mr. Nabi will continue to serve as a Director and a member of the Executive Committee of Six Flags while Mr. Weber will transition to the role of Chief Operating Officer.

"I am very excited to be joining Six Flags' dedicated group of employees and to build upon the momentum already underway at the Company," said Reid-Anderson. "With its strong portfolio of theme parks and improved capital structure, the Company is very well positioned for the long term. I look forward to enhancing the experience for our guests and continuing to build value for our stakeholders."

Prior to joining Dade Behring, Reid-Anderson held various financial and operational positions at Wilson Sporting Goods, PepsiCo, and Grand Metropolitan PLC, and currently serves as a Director on the Boards of Brightpoint, Inc. and Stericycle, Inc. He is a fellow of the UK Association of Chartered Accountants and received an Honors Degree in Commerce from the University of Birmingham, UK.

About Six Flags
Six Flags Entertainment Corporation, a publicly-traded corporation headquartered in Dallas, Texas, is the largest regional theme park operator in the world with 19 parks across the United States, Mexico and Canada.



Never heard of him. Lets hope he does the company some good. I'd rather see Weber at the head of the reigns because, IMO, he was doing an outstanding job. Lets see where this goes.

[Truth Seeker]

Why don't they learn? We need someone with experience in the industry. For example, Al Weber! He was doing a great job, why ruin a good thing?

[Jp]

I hope he does good for the company, like what Truth_Seeker said I much rather have Al being the CEO..

[Truth Seeker]

I don't understand why they would decide to ruin a good thing. Al was doing a great job, why have him replaced? It makes no sense.

[Jp]

The links take forever to open up for me. I waited for 15mins. for the 2006 version. But I guess I will try it on the computers at school to see if it works for me.

[SFNE Expert]

Thats exactly what I'm thinking. Although it seems like Weber will be the Shapiro and Reid-Anderson is the Snyder? Thats what I took it as? Maybe I misread it.

[nitrofan]

Why don't they learn? We need someone with experience in the industry. For example, Al Weber! He was doing a great job, why ruin a good thing?

Really all that Weber visibly did was cut hours and benifits that season pass holders were promised. We'll have to wait and see on his 2011 decisions, but overall, I wasn't too impressed with Weber.

Now for Reid, I know nothing about him. I guess we'll just have to wait and see.

[nitrofan]

The links take forever to open up for me. I waited for 15mins. for the 2006 version. But I guess I will try it on the computers at school to see if it works for me.

That's weird, it worked fine for me.

[Austin]

Weber was doing great. Cutting unnecessary hours and benefits that you really didnt need. He was trying to prevent another debt buildup and was trying to make the parks better financially. He was still committed to bringing new rides to the parks for 2011 also.

[nitrofan]

Weber was doing great. Cutting unnecessary hours and benefits that you really didnt need. He was trying to prevent another debt buildup and was trying to make the parks better financially. He was still committed to bringing new rides to the parks for 2011 also.

But the hours and benifits were promised to season pass holders when they purchased them! You can't just cut benifits like that in the middle of the season.

Cutting hours is just going down the wrong path anyway. A lot of parks in the chain already had short hours, but now they were getting shorter?

According to the article, Reid does well with customer service, so hopefully he will continue that with Six Flags like Shapiro.

[Austin]

Short hours since when do you need to run a park until midnight at times? Six Flags doesnt have the ability to support that financially for the long term. And he only cut hours by one to two at the most.

And you can cut benefits. Its their right to. Season Pass holders still get a ton of benefits.

[nitrofan]

Short hours since when do you need to run a park until midnight at times? Six Flags doesnt have the ability to support that financially for the long term. And he only cut hours by one to two at the most.

And you can cut benefits. Its their right to. Season Pass holders still get a ton of benefits.

The only times when Six Flags is open until midnight is Fright Fest and some parks on 4th of July. Those are times when it is appropriate to be open that late. But when a park is only open until 8, 9, or 10, there is no reason to be cutting hours.

When season pass holders are promised certain benifits when buying a season pass, the park has no right to cut them mid-season. It doesn't matter how many benifits they have, the season pass holders are the park's primary customers, they shouldn't be breaking their commitments to season pass holders.

[Austin]

So you would rather Six Flags not try and reduce their debt and excessive spending?

[Truth Seeker]

Six Flags simply cannot afford to keep their parks open late. It creates major losses for SF. I know it may seem like a pain to some, but trust me in the long run it will pay off.

[Austin]

And since when do you need to stay in a park from 11 AM to 10 PM?

[Truth Seeker]

^Honestly, most people are out between 6-8 anyway. I am aware some people out there are upset over this decision,but lets put it this way.Would you rather stay at a park bankrupt, run down amusement park until 10pm, or spend your day at a more properly maintained park and have to leave just a hour or 2 hour earlier?

[nitrofan]

And since when do you need to stay in a park from 11 AM to 10 PM?

Have you ever been to a major Six Flags park on a saturday? They are packed from open to close! Major parks could easily support 10am-10pm. Not everyone stays in the park the full time, but it gives people more options.

For example, SFOG on a friday in the summer I was at the park from opening to closing (10:30am-9:00pm). The crowds were moderate most of the day, but around 5/6pm the park got packed! People with come after work and stay until close.

On a weekday in the summer, parks should close no earlier than 8:00pm. There is just no reason for them to close earlier than that. With bigger parks, they can easily support 9-10 closings on a weekday.

When the parks are open and crowded, it just doesn't make sense to close earlier. And if I'm in a park longer and I feel like they are open long enough to fully enjoy the park, I'm more likely to spend money while I'm there! I was at Carowinds over Spring Break. They were open from 10am-6pm and they were fairly crowded the whole day. I didn't feel like I had enough time for the park, so I didn't buy anything even though I would have liked to because I would rather have time in the park than in gift shops.

[Austin]

Yeah Ive been to Kentucky Kingdom. Before and after Six Flags ruined it. And if you cant do everything in the park that you go to at least 4-5 times a year in a day then you fail at planning trips.

Btw factor in the cost of utilities, wages, operating costs, food and drink stock, gift stock. At night you do realize they use about 100x more electricity than the day right. And nationally the rates for electricity are going up. Way up.

[nitrofan]

Yeah Ive been to Kentucky Kingdom. Before and after Six Flags ruined it. And if you cant do everything in the park that you go to at least 4-5 times a year in a day then you fail at planning trips.

Btw factor in the cost of utilities, wages, operating costs, food and drink stock, gift stock. At night you do realize they use about 100x more electricity than the day right. And nationally the rates for electricity are going up. Way up.

Ok, you missed a key point of my post. I said MAJOR parks should be open later. Look at SFMM on a Saturday, you CAN'T do everything in that park without a Flash Pass. Then if they wanted to cut hours on top of that...

How could a park possibly use 100x more electricity at night than during the day? Just look around a theme park, most lights in a park are on during the day. Path lights and right lights are on most of the night if not the whole night anyway, and those are really the only major things that aren't on during the day.

As for the cost for food/drink and gift shop stock, that is always a positive expense and the stock cost doesn't change if it is sold at night.

For major parks that will be crowded from open to close, there is absolutely no reason to be cutting hours.

[nitrofan]

I don't understand why they would decide to ruin a good thing. Al was doing a great job, why have him replaced? It makes no sense.

They're not ruining a good thing and they haven't completely replaced Weber. Weber will be the COO. It sounds like Anderson will handle the business side and Weber will handle the theme park stuff.

[palmer]

Wait, wha...wha..what's happening?

[Truth Seeker]

Who was COO while Weber was CEO?

[Jp]

I am currently listening to the Second Quarter 2010 Results, if there is anything big noted I will post it here.

[SFNE Expert]

I found this interesting... taken from the Six Flags website:

Prior to joining Six Flags, Jim Reid-Anderson was an adviser to Apollo Management L.P. and from December 2008 to March 2010 was an adviser to the managing board of Siemens AG, a $100 billion worldwide manufacturer and supplier of electronics and electrical engineering in the industrial, energy and healthcare sectors. From May through November 2008 he was a member of Siemens AG’s managing board and Chief Executive Officer of Siemens $20 billion Healthcare Sector, and from November 2007 through April 2008 he was the Chief Executive Officer of Siemens Healthcare $5 billion Diagnostics unit. Prior to the $7 billion sale of the company to Siemens, Mr. Reid-Anderson served as Chairman, President and Chief Executive Officer of Dade Behring Holdings, Inc., which he joined in August 1996. He previously held roles of increasing importance at PepsiCo, Grand Metropolitan (now Diageo) and Mobil. He is a Board Member of Stericycle, Inc. and Brightpoint, Inc. Mr. Reid-Anderson is a fellow of the U.K. Association of Chartered Certified Accountants and received a BCom (Hons) commerce degree from the University of Birmingham (U.K.).

Apollo huh? Same Apollo that tried to take over Cedar Fair?

[Truth Seeker]

Very interesting. I wonder if ti was his idea to attempt to take over Cedar Fair?

[Jp]

Six Flags Entertainment Corporation (SIX) Q2 2010 Earnings Call August 16, 2010 8:30 am ET

Operator

Good day, ladies and gentlemen, and welcome to the Six Flags second quarter 2010 earnings conference call. (Operator Instructions)

I would now like to turn the conference over to your host for today's call, Ms. Sandra Daniels, Vice President of Communications.

Sandra Daniels

Good morning, everyone, and welcome to our second quarter 2010 earnings call. With me on the call today are Jim Reid-Anderson, Six Flag's new Chairman, President and CEO; Al Weber, Chief Operating Officer; and Jeff Speed, Executive Vice President and CFO.

At this time, I'd like to take a moment to read through the forward-looking statements. In compliance with SEC Regulation FD, a webcast of this call is being made available to the media and the general public, as well as analysts and investors. The company cautions you that comments made during the call will include forward-looking statements within the meaning of the federal securities laws. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those described in such statements. You may refer to the company's 2009 Annual Report on Form 10-K, which is also posted on its website, for a detailed discussion of these risks.

Because the webcast is open to all constituents and prior notification has been widely and unselectively disseminated, all contents of the call will be considered fully disclosed. In accordance with SEC Regulation G, non-GAAP financial measures used in the earnings release and in the company's oral presentation today are required to be reconciled to the most directly comparable GAAP measure. Those reconciliations are available to investors in the earnings release and on our website.

And now, it is my pleasure to introduce Six Flag's new Chairman, President and CEO, Jim Reid-Anderson. Jim joined Six Flags with the distinguished track record, notably as the former Chairman, President and CEO of Dade Behring Holdings.

Jim Reid-Anderson

Thank you for that very nice introduction, Sandra. I am extremely honored to serve as Six Flags' new Chairman, President and CEO, and I'm very excited about taking on this new role.

I have to say when I was approached with this opportunity, I did not hesitate. With its world-class portfolio of theme parks and strong balance sheet, the company is well positioned for success. I am invigorated by the challenge of continuing to improve the company's operational performance through focused execution and to further enhance the company's capital structure through disciplined financial management. There are clear goals in place designed to reduce costs and improve efficiency, and those efforts will continue.

I am very pleased to have the expertise of Al Weber and the great team of executives around the company to draw on. Al has done a fantastic job leading the company over the last few months. His expertise has been critical as the company had transitioned from a successful financial restructuring to a busy summer season.

I will be visiting all of our parks in the coming weeks and examining the core businesses. Six Flags has some of the most talented people in the business, and I am really eager to meet everyone. I anticipate that my first tasks will involve a lot of listening and a lot of asking questions.

Clearly, it's also a high priority for me to get to know our customers and also many of you in the financial community. I look forward to listening to your thoughts. And during the next few months, I also hope to be able to meet as many of you as possible face-to-face.

One of the most important concepts in corporate governance is transparency. For me, that has always been my policy. I am committed to maintaining an open dialog with all shareholders. I believe we have a great story to tell, and I will do my best to communicate about our business and our plans.

That said, today is my first day on the job. So I'm not yet in a position to discuss the specifics of Six Flags business and performance. Al and Jeff are here to provide that information and to take questions along those lines.

Before they give us all the details, I would like to reinforce that all in all, this was a very memorable quarter marked by a great operating and financial performance, strong support from guests, partners, suppliers, employees, lenders and committed shareholders and a positive conclusion to a long and often complex restructuring process.

With that, Al, I'll turn the call over to you now.

Al Weber

Thank you, Jim. Welcome to Six Flags. I look forward to partnering with you. Good morning, everyone, and thank you for participating in this call and for your interest in Six Flags Entertainment.

As you can imagine, a lot has taken place since the company's last investor conference call in the spring of 2009. First, I'd like to talk about what Six Flags accomplished during its financial restructuring.

While the process was challenging, it resulted in the cancellation of $1.7 billion in debt and preferred equity. As of August 1, our net debt balance was $830 million, down from our pre-petitioned balance including peers of over $2.7 billion. Our annual cash financing burden is approximately $75 million and is approximately one-third of historical levels. We have preserved in excess of $1 billion in federal net operating losses, which means that we will pay minimal taxes for the foreseeable future.

Our new capital structure and NOLs will help us generate meaningful free cash flow, which will permit continued deleveraging. In fact, on August 5, we made an unscheduled principal payment of $25 million on our first lien term loan.

Now let's turn to our operations. Since I joined the company in May, we've streamlined our operations and refocused our organization. We began this process starting with the reorganizing of the corporate office and the relocation of the corporate headquarters to Dallas, the home of our original theme park, Six Flags Over Texas. Reorganization of the corporate office is expected to generate $16 million in the annual savings. In addition, we've completed a deep-dive review of operating expenses, which will help implement best practices to enhance productivity.

As a refocused company, we have stopped non-added value spending, which is inefficient and distracting, and we have shifted our focus on the core theme park business.

There is a wealth of theme park experience in the company. Much like myself, many people have dedicated their career to the theme park industry. This depth of experience has allowed us to decentralize our organization and push more local decisions to the field. And we have aligned our organization to a long-term incentive plan which extends to the park level.

I've been in the business for over 40 years. I've been the CEO of two industry-leading companies and have successfully turned around organizational cultures and delivered significant growth in market share and profitability. I know a little bit about the theme park space. So here is what I think about the assets of Six Flags.

Number one, they are in great markets. Our parks are in nine out of the top 10 DMAs. This strong market position provides a great opportunity. Number two, they are in excellent condition. Over the past few years, the company increased its operating expenses in order to clean up the parks and to eliminate deferred maintenance, which has helped drive record guest service levels and has underscored our commitment to provide clean, safe, fun experiences for our guests.

Number three, the parks are well capitalized. The company has spent approximately $1.75 billion in capital expense since 1998, more than any other regional theme park company. We benefit from these investments which provide guests with a wide variety of high-quality rides, shows and attractions that stimulate visitation from guests of all ages.

Number four and most importantly, Six Flags has great people. I've known many Six Flags people for years and enjoyed getting to know them better for the last three months. I am impressed by their abilities, their passion for the guests and their commitment to the company.

While we have generated positive momentum, the company has further opportunity to achieve best-in-class performance. We believe there is great opportunity for growth by focusing our attentions on marketing, pricing and capital efficiency.

Let's first touch on marketing. You just let me comment on our strong product offering. It probably isn't our product; it's how our product is marketed. Our advertisements have relied too heavily on Mr. Six. While his awareness is high, his effectiveness of the message is low. We've already shifted away from Mr. Six and towards advertisements that showcase our product and improve intent-to-visit. We will target families and thrill-seekers alike and convey the message that Six Flags offers something for everyone.

Now on to pricing. Despite being located in better markets, Six Flags under-prices its competitors by 20%. However it's due not to actual pricing levels, rather it's a function of deep unfenced discounting. The point here is that discounts are effective by driving urgency to a specific time. While unfenced discounts, which extend throughout the entire operating season, do not create urgency to visit, and therefore simply serve to reduce the cash. We intend to address our price initiative, but in a more strategic discount plan.

Lastly, I'd like to touch on capital efficiency. It's important to continue to add fresh new product to our parks. In recent years, Six Flags' capital spending has generally been at the right levels. However, there are a few ways to make level spending more effective.

First, through better marketing, we can improve customer awareness of the new product. Second, we need to select product that truly appeals to our customers and closes the gaps in our product mix. Through a more localized approach to capital decision-making, we could improve product selection. These are regional parks. Approximately 25% of the guests live within 100 miles of the parks. We need to listen to the guests to better understand what they want.

And third, we can get a better bang for the buck by analyzing the value proposition of each capital investment. For example, our Glow In The Park parade over the five parks that present the parade, we spent approximately $7.5 million in capital. It's a magnificent event, but it is a night parade and must be schedule at night when guests have already left the park as well as requiring the park to stay open longer than tradition schedule suggests. We see this is as just one small example where we can improve the efficiency and effectiveness by deploying our capital differently.

Taking a step back, we've accomplished quite a lot in the short period of time. I'm pleased by the strong second quarter operating results, because they are an indication of the potential of this great company. And again, I look forward to partnering with Jim on contingently improving Six Flags.

And at this time, I'd like to turn the call over to our CFO, Jeff Speed, to share more detailed results from the quarter.

Jeff Speed

Thanks, Al. Welcome, Jim, and good morning to everybody. Before discussing the details of our results, let me start off with a brief explanation of our financial statement presentation for the quarter and six months ended June 30.

Clearly, the most significant item affecting our financial statements for the period was our emergence from Chapter 11 on April 30. From a financial reporting perspective, the emergence from bankruptcy required us to adjust our consolidated balance sheet at the emergence state to reflect our assets and liabilities at fair value.

This was accomplished through a detailed exercise known as fresh-start accounting or reporting. Fresh-start reporting not only impacted our balance sheet, but also affected our income statement post-emergence. For example, as part of fresh-start reporting, we were required to record various amortizable and tangible assets which give rise to amortization expense on our income statement for the period after emergence.

Importantly, these non-cash valuation adjustments required by fresh-start reporting do no impact our adjusted EBITDA, as we've excluded the impact of these items consistent with our definition of adjusted EBITDA and the definition included in our secured credit agreements.

As a result of fresh-start reporting, the income statement for the quarter and six months are divided into two sections: predecessor, which reflects the predecessor debtor-in-possession entity that was in Chapter 11; and the successor entity, which is the company as it stands today, recapitalized and out of bankruptcy.

For purposes of analyzing certain key operating results on the call today such as revenues, costs and adjusted EBITDA, I'm going to be discussing the results for the current-year quarter and six months and comparing those results to the prior-year period without distinguishing between the predecessor and successor periods, as we believe this is an appropriate and useful comparison.

In addition to fresh-start adjustments, our financial statements for the quarter and six months also reflect the consolidation of the Six Flags Great Escape Lodge & Indoor Waterpark, which we manage and own 41%. The prior-year quarter and six months does not include consolidation of the Lodge, but rather reflects it as an equity investment. Our financial statements for each period presented also reflect the classification of our former Louisville, Kentucky, theme park as a discontinued operation.

And finally, we've reflected certain post-emergence expenses on a separate line item on our income statement as restructuring expenses, which reflect costs associated with strategic changes in the company's management and operation, including the cost of severance from recent management changes and personnel reductions.

With all that as background, let's get to the results. Revenues for the quarter ended June 30, 2010, totaled $321.3 million, a $24.5 million or 8% increase over the prior-year quarter. The revenue growth reflects increased attendance and higher sponsorship revenues, as well as a $3.4 million impact from consolidating the Lodge. This was partially offset by slightly lower per capita guest spending.

Attendance for the second quarter was $8.2 million, a $500,000 or 7% improvement over the second quarter of 2009, and this was driven by a 16% increase in season pass visitation and 6% growth in group attendance.

Per capital guest spending was $36.86 for the quarter, a decrease of $0.29 from $37.15 in the prior-year quarter. This reflects the decision last fall to reduce season pass pricing, partially offset by increases in non-season pass ticket per capita and a favorable exchange rate impact on guest spending per capital of $0.18 related to our international parks.

Cash operating expenses for the quarter totaled $213.3 million, an $11.9 million or 5% decrease from the second quarter of 2009. This reduction reflects reduced marketing expenses, insurance costs and payroll and benefits expenses, partially offset by higher cost of sales and a $2.5 million impact due to the consolidation of the Lodge.

Adjusted EBITDA for the second quarter was $94.7 million, a $38.3 million or 68% increase over the prior-year quarter's adjusted EBITDA of $56.4 million. This increase reflects our increased revenues and reduced cash operating expenses for the period.

The company's modified EBITDA margin, which reflects adjusted EBITDA before the allocation of amounts attributable to non-controlling interest, primarily in our partnership parks and our equity investment in Dick Clark Productions, was 34% for the second quarter, a significant improvement over the prior-year quarter's 24% margin.

Given the seasonality of our business, the changes in revenue, cash operating expenses and adjusted EBITDA for the six months ended June 30 versus the prior-year period were driven largely by the same factors as our second quarter.

Revenues for the six months increased $30.6 million or 9% to $378.5 million. This was partially driven by the consolidation of the Lodge, which drove $7.7 million of the increase over the prior year. Attendance for the first half of 2010 totaled $9.5 million, an increase of $500,000 over the first half of 2009.

Guest spending per capita was $36.67 for the current-year period, relatively flat to $36.76 in the prior-year period. The favorable exchange rate impact on guest spending per capita growth versus the first half of 2009 was $0.29 related to our international parks.

Cash operating expenses for the six months totaled $332 million, a $5.8 million or 2% decrease from the prior-year period, even after the consolidation of the Lodge which accounted for a $5.4 million increase over the prior year.

Adjusted EBITDA for the first half was $34.7 million, a $37.8 million increase over the prior-year period's adjusted EBITDA loss of $3.1 million. And modified EBITDA margin for the first six months of 2010 was 13% versus 3% in the prior-year first half.

Our performance for the six months also reflects 1% or 10 fewer operating days as well as improved weather primarily at our East Coast parks compared to the prior-year period.

Outside of adjusted EBITDA, the company's results for the quarter and six months reflect higher amortization expense due to the increase in amortizable assets from fresh-start reporting and lower interest expense from the reduction in the company's debt burden as a result of the confirmation of our Chapter 11 plan of reorganization.

The prior-year quarter and six months were also affected by a loss reflected in other expense related to the termination of our interest rate swaps. Reorganization items on the income statement contain the cost of the Chapter 11 proceedings as well as debt extinguishment gains that occurred pursuant to the Chapter 11 plan that were recognized upon emergence at April 30.

Income tax expense of approximately $60 million primarily reflects deferred taxes related to fresh start adjustments, and the gain in discontinued operations for the quarter and six months was due to a reduction in certain liability accruals.

As indicated in our reorganization plan projections, we expect cash taxes of approximately $10 million per year. At the end of June, we had unrestricted cash of $122 million. And in terms of available liquidity, in addition to our cash, the company has a $120 million undrawn revolving line of credit as well as a $150 million facility provided by Time Warner that can be used to finance the redemption of the limited partnership units that are put to the company.

Based on our performance through July and our solid cash and liquidity position, on August 5, the company decided to prepay $25 million in principal on its first lien term loan. Given our existing cash and liquidity sources, we believe the company has ample liquidity to address its anticipated short-term and long-term needs.

And with that, I'd like to turn the call back to Al for some closing comments before we begin Q&A.

Al Weber

Thank you, Jeff. To sum up, here at Six Flags, we're going to stick to what we do best, our great theme parks.

We'll leverage our strong asset base and a dedicated group of employees to achieve best-in-class performance, while at the same time continue to provide our guests with a high-quality theme park experience they have come to expect from Six Flags. With an improved capital structure and a refocused organization, Six Flags is well positioned to create long-term value for its shareholders.

At this time, I'd like to open up the call for questions.
http://seekingalpha.com/article/220723-six-flags-ceo-discusses-q2-2010-results-earnings-call-transcript?source=yahoo

[nitrofan]

Hmm, while I may go against the opinions of most, I think I like Anderson more than Weber from my minimal knowledge of both of them.

[bobbinbop20]

Hmm, while I may go against the opinions of most, I think I like Anderson more than Weber from my minimal knowledge of both of them.

And I liked Shapiro

[nitrofan]

And I liked Shapiro

I did too. It's amazing how quickly the guest experience at MOST parks turned around. (most was thrown in there for the KK people. Please don't start a rant about it.)

[bobbinbop20]

I did too. It's amazing how quickly the guest experience at MOST parks turned around. (most was thrown in there for the KK people. Please don't start a rant about it.)

Oh I know, he did a really good job as the CEO and I was pissed when they got rid of him for whatshisface

[nitrofan]

Oh I know, he did a really good job as the CEO and I was pissed when they got rid of him for whatshisface

Anderson sounds like he will do a good job though. When I heard that Weber was from Paramount Parks, I was disappointed.

[bobbinbop20]

Yeah same here, and I really hope this new guy knows what he is doing, did Weber even do anything, he was CEO for like 3 months

[nitrofan]

Yeah same here, and I really hope this new guy knows what he is doing, did Weber even do anything, he was CEO for like 3 months

He moved corporate offices and cut season pass benifits and park hours. Weber is still COO, so I hope that Six Flags guest experience doesn't become like Paramount's.

[Austin]

Paramounts was alot better than Six Flags. They didnt feel like corporate parks. Six Flags did however. He streamlined the company setting it up for future financial success.

[nitrofan]

Paramounts was alot better than Six Flags. They didnt feel like corporate parks. Six Flags did however. He streamlined the company setting it up for future financial success.

Have you ever been to a Paramount Park while it was owned by Paramount? The guest experience was horrible compared to Six Flags in 2008/2009.

[SFNE Expert]

Thats what Reid-Anderson is for. Also Weber didn't cut all of the season pass benefits. For Georgia he moved it. For SFNE he made it weird, spreading it out for three separate weekends in a row with two hours of morning ERT. I don't know about the other parks though.

[Austin]

Yeah Kings Island from 2000-2004. Cedar Fair has added new stuff but has seriously let down the quality of the rides I loved.

[nitrofan]

Yeah Kings Island from 2000-2004. Cedar Fair has added new stuff but has seriously let down the quality of the rides I loved.

Like what? Son of Beast was doomed from the start, Beast may be going down, and Flight of Fear lost some theming. Besides that, they got 2 new coasters, one of them being a very nice world-class coaster.

The thing that worried me about Weber is that from personal experience, Paramount Parks guest experience was crap. One train on rides, horribly rough wooden coasters, dirty parks, employees that didn't seem to care. I think Cedar Fair has done wonders for Paramount Parks.

[Austin]

I always had a great guest experience at KI. No one can tell the future of rides so SOB cant be pinned to anyone. Beast got work but they ruined alot of rides. Backlot Stunt Coaster. Cars are now red and what other colors they have. Instead of just spending the little money to put a new fiberglass body we get a non-realistic car. Also on Backlot alot of effects have become broken. Beastie is now BLUE! Its not even called Beastie its called Woodstock Express. What was wrong with a classic ride? Nothing. That ride has been forever ruined. Racer used to have a backwards side. Thats gone ruining another thrilling part of the park, and they left Racer to pretty much let its paint decay making it look horrible.

Top Flight has gotten severely rougher since they got sold to CF. Alot of the parks feel has been lost since CF took over.

[nitrofan]

Alot of the parks feel has been lost since CF took over.

I guess we're just going to have to agree to disagree on that one.

[SFNE Expert]

The thing that worried me about Weber is that from personal experience, Paramount Parks guest experience was crap. One train on rides, horribly rough wooden coasters, dirty parks, employees that didn't seem to care.

Immediately when Weber took over I noticed that situations were handled differently from when Shapiro was at the head of the company, different for the worse. It seemed like when Shapiro made sure that the supervisors grilled their people every day to be on top of their game or something like that, now it seems like their slowly going down hill. Thats just a small change I've noticed...

Let's see what happens.

[Truth Seeker]

I always had a great guest experience at KI. No one can tell the future of rides so SOB cant be pinned to anyone. Beast got work but they ruined alot of rides. Backlot Stunt Coaster. Cars are now red and what other colors they have. Instead of just spending the little money to put a new fiberglass body we get a non-realistic car. Also on Backlot alot of effects have become broken. Beastie is now BLUE! Its not even called Beastie its called Woodstock Express. What was wrong with a classic ride? Nothing. That ride has been forever ruined. Racer used to have a backwards side. Thats gone ruining another thrilling part of the park, and they left Racer to pretty much let its paint decay making it look horrible.

Top Flight has gotten severely rougher since they got sold to CF. Alot of the parks feel has been lost since CF took over.

I agree with most of what you said, with one exception... While it may be true that while under CF's control Racer lost it's backwards side, it was not CF's chose. Under Ohio law amusement park owners must follow recommendations, PTC recommended that all of it's trains only go forward.

[SFNE Expert]

Whoa. I just came across this. Very very surprising news. I got this from Screamscapes Twitter and a news article. Whoa.

http://www.examiner.com/adventure-parks-in-los-angeles/six-flags-magic-mountain-gm-jay-thomas-fired

Six Flags cleaned a little house today, firing several general managers including Magic Mountain GM Jay Thomas. Other firings to come down include Mark Kane from Six Flags Great Adventure in New Jersey and Eric Gilbert of Six Flags Discovery Kingdom in Northern California. This according to the Screamscape twitter page.

The firings of Jay Thomas is especially surprising considering the resurgence that Six Flags Magic Mountain has experienced since he came on board. Six Flags as a whole has rebounded from a $1.4 Billion debt after filing chapter 11 bankruptcy.

Thomas assumed the role of Park President of Six Flags Magic Mountain and Hurricane Harbor on September 5, 2007. Thomas, formerly Park President at Six Flags Kentucky Kingdom in Louisville, has been with Six Flags over 18 years at both the corporate and park levels.

Since his appointment to Park President of Six Flags Magic Mountain and Hurricane Harbor, Thomas has made a concerted effort to turn the park into more of a family destination with the addition of the newly-created Thomas Town(No relation). Thomas has also overseen the addition of the Cyber Café, Sky Tower museum and the launch of the popular X2 and Tatsu coasters. He also oversaw the opening of the new $10 million wooden rollercoaster, Terminator Salvation based on the latest Terminator film which came out in 2009.

The park was set to open the family ride, Mr Six's Dance Coaster two months ago but the opening was pushed back to next spring due to problems with permits and such. They also recently closed Superman: The Escape coaster for a much needed renovation. All of these additions were positve steps in the right direction for the park although there is still a ways to go. Hopefully whomever they replace Thomas with, will continue his work in turning Magic Mountain into a family destination.

For more information visit the Six Flags Magic Mountain website

Is this a rumor. If its not thats four AWESOME park GMs fired now. Larry Litton of SFNE included. Wow.

[DarienLake:D]

This is just stupid! I'm not liking the new CEO of SF.... He sounds like a jerk...

[palmer]

Oh boy, ever since Shapiro left, things have been getting fishy. I feel that something is happening inside SFI that can't be spread to the GP, nor insiders of the company (employees, affiliates, etc).

[Truth Seeker]

Woah GM of KK, never knew that. Who was manager when KK closed?