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Everything posted by DiamondbackFan
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Six Flags and Cedar Fair Merge
DiamondbackFan replied to IndyGuy4KI's topic in Kings Island Central Newsroom
The Six Flags stockholders approved the merger. SEC filing -
Six Flags and Cedar Fair Merge
DiamondbackFan replied to IndyGuy4KI's topic in Kings Island Central Newsroom
The new annual report footnote says: "(2)The permit agreement is with the Federal District of Mexico City. The agreement expires in 2034.." -
Six Flags and Cedar Fair Merge
DiamondbackFan replied to IndyGuy4KI's topic in Kings Island Central Newsroom
After the merger, they will probably unload these leased parks: "During the year ended December 31, 2023, we determined that the carrying value of our leased theme park in Oklahoma City, Oklahoma, Frontier City ("Frontier City") and our leased water park in Oklahoma City, Oklahoma, Hurricane Harbor Oklahoma City ("HHOKC") were not recoverable following multiple years of negative cash flows, as well as projected future cash flows that indicated the respective assets were not recoverable. Based on the analysis performed, we determined that the carrying value of Frontier City and HHOKC exceeded their fair value, resulting in a pre-tax, non-cash loss on impairment of $16.0 million and $7.0 million, respectively. The loss on impairment at Frontier City was allocated proportionally, in the amount of $8.8 million and $7.1 million, to Right-of-use operating leases, net and Property and equipment, net, respectively. The loss on impairment at HHOKC was allocated proportionally, in the amount of $4.3 million and $2.7 million, to Right-of-use operating leases, net and Property and equipment, net, respectively. During the year ended January 1, 2023, we determined that our leased theme park in Houston, Texas, Hurricane Harbor Splashtown ("Splashtown") was not recoverable following multiple years of negative cash flows, as well as projected future cash flows that indicated the respective assets were not recoverable. Based on the analysis, we determined that the carrying value of Frontier City[sic] exceeded its fair value, resulting in a pre-tax, non-cash loss on impairment of $16.9 million. The loss on impairment was allocated proportionally, in the amount of $15.1 million and $1.8 million, to Right-of-use operating leases, net and Property and equipment, net, respectively." The partnership parks could be sold if the End-of-Term Option is not exercised by Six Flags: "In January 2027 with respect to the Georgia Partnership and in January 2028 with respect to the Texas Partnership, we will have the option (each the “End-of-Term Option”) to require the redemption of all the limited partnership units we do not then own in the Partnerships. To exercise the End-of-Term Option, we must give the Georgia Partnership notice of its exercise no later than December 31, 2024 and we must give the Texas Partnership notice of its exercise no later than December 31, 2025. If the End-of-Term Option is not exercised, the parties may decide to renew and extend the arrangements relating to the Partnership Parks. Alternatively, if the End-of-Term Option is not exercised, the Partnership Park entities may be sold and the proceeds applied to redeem the outstanding interests in the Georgia Partnership and Texas Partnership, as applicable. If the End-of-Term Option is exercised, the price offered, and required to be accepted by the holders' of the limited units we do not then own would, is based on the agreed-upon value of the partnerships included in the original agreements, multiplied by the change in the Consumer Price Index ("CPI") between the beginning and end of the agreement. The agreements for Georgia Partnership and the Texas Partnership began in 1997 and 1998, respectively. The agreed-upon value for the partnerships, when the agreements were executed, was $250.0 million and $374.8 million for SFOG and SFOT, respectively. As of December 31, 2023, the agreed upon value, as adjusted for CPI, would be $483.5 million and $712.7 million for SFOG and SFOT, respectively. The agreed upon values, if determined as of December 31, 2023, multiplied by the 68.5% and 45.9% of units held by the limited partner for SFOG and SFOT, respectively, represent $330.9 million and $332.6 million that would be required to be paid to the limited partner of SFOG and SFOT, respectively, if the End-of-Term Option were to be exercised. The actual agreed upon value for the End-of-Term Option will be further adjusted by CPI until the end of the each respective agreement. The decision to exercise, or not exercise, the End-of-Term Option for either of SFOT or SFOG will ultimately be made based on numerous factors, including prevailing macro-economic and industry conditions and the cost and availability of financing to fund the purchase." This information was in the new Six Flags annual report. https://otp.tools.investis.com/clients/us/sixflags3/SEC/sec-show.aspx?Type=html&FilingId=17326504&CIK=0000701374&Index=10000 -
Six Flags will have to make a decision on the future of the Georgia parks by December 31st. From the new annual report: "In January 2027 with respect to the Georgia Partnership and in January 2028 with respect to the Texas Partnership, we will have the option (each the “End-of-Term Option”) to require the redemption of all the limited partnership units we do not then own in the Partnerships. To exercise the End-of-Term Option, we must give the Georgia Partnership notice of its exercise no later than December 31, 2024 and we must give the Texas Partnership notice of its exercise no later than December 31, 2025. If the End-of-Term Option is not exercised, the parties may decide to renew and extend the arrangements relating to the Partnership Parks. Alternatively, if the End-of-Term Option is not exercised, the Partnership Park entities may be sold and the proceeds applied to redeem the outstanding interests in the Georgia Partnership and Texas Partnership, as applicable. If the End-of-Term Option is exercised, the price offered, and required to be accepted by the holders' of the limited units we do not then own would, is based on the agreed-upon value of the partnerships included in the original agreements, multiplied by the change in the Consumer Price Index ("CPI") between the beginning and end of the agreement. The agreements for Georgia Partnership and the Texas Partnership began in 1997 and 1998, respectively. The agreed-upon value for the partnerships, when the agreements were executed, was $250.0 million and $374.8 million for SFOG and SFOT, respectively. As of December 31, 2023, the agreed upon value, as adjusted for CPI, would be $483.5 million and $712.7 million for SFOG and SFOT, respectively. The agreed upon values, if determined as of December 31, 2023, multiplied by the 68.5% and 45.9% of units held by the limited partner for SFOG and SFOT, respectively, represent $330.9 million and $332.6 million that would be required to be paid to the limited partner of SFOG and SFOT, respectively, if the End-of-Term Option were to be exercised. The actual agreed upon value for the End-of-Term Option will be further adjusted by CPI until the end of the each respective agreement. The decision to exercise, or not exercise, the End-of-Term Option for either of SFOT or SFOG will ultimately be made based on numerous factors, including prevailing macro-economic and industry conditions and the cost and availability of financing to fund the purchase." https://otp.tools.investis.com/clients/us/sixflags3/SEC/sec-show.aspx?Type=html&FilingId=17326504&CIK=0000701374&Index=10000
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Six Flags and Cedar Fair Merge
DiamondbackFan replied to IndyGuy4KI's topic in Kings Island Central Newsroom
March 12th https://otp.tools.investis.com/generic/sec/sec-show.aspx?ipage=17224713&Cik=0000701374&Type=PDF -
Six Flags and Cedar Fair Merge
DiamondbackFan replied to IndyGuy4KI's topic in Kings Island Central Newsroom
I think United Parks and Resorts merging with Parques Reunidos would make more sense. -
Camp Snoopy Construction Updates
DiamondbackFan replied to Hawaiian Coasters 325's topic in Kings Island
Goto: https://www.importgenius.com/importers/kings-island and click the shipments tab. -
How Much Longer For Boo Blasters On Boo Hill?
DiamondbackFan replied to kingsislandfan1972's topic in KI Polls
"The most ridden non-coaster ride of 2023 was Boo Blasters on Boo Hill, which gave just shy of 900,000 rides." https://www.visitkingsisland.com/blog/2024/january/most-ridden-kings-island-ride-in-2023 -
Coney Island Permanently Closing
DiamondbackFan replied to Oldiesmann's topic in Coney Island Central
Your profile location says Northern Kentucky. How are elected officials in Cincinnati your city officials? -
https://www.avvir.io/blog-posts/when-should-you-leverage-survey-control-what-benefit-does-it-bring "Control points are reference points with known coordinates, used to create a consistent coordinate system for construction projects. These points are essential for land surveyors to accurately position elements on a jobsite, based on digital plans or Building Information Modeling (BIM) models."
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Corbett foundation and others would wonder....
DiamondbackFan replied to burlguy41005's topic in Coney Island Central
https://www.youtube.com/watch?v=xLd22ha_-VU -
Six Flags and Cedar Fair Merge
DiamondbackFan replied to IndyGuy4KI's topic in Kings Island Central Newsroom
That plan already failed and they reverted back to the old way earlier this year. -
Camp Snoopy Construction Updates
DiamondbackFan replied to Hawaiian Coasters 325's topic in Kings Island
Shipping record. -
New Director of Communications - Chad Showalter
DiamondbackFan replied to IndyGuy4KI's topic in Kings Island Central Newsroom
Not many people do, anymore. -
Improve one coaster without altering the layout
DiamondbackFan replied to SonofBaconator's topic in KI Polls
The park was rebranded as Six Flags Great Escape recently. Here is the new entrance sign. -
No, it doesn't. "Upon closing of the transaction, the combined company will operate under the name Six Flags and trade under the ticker symbol FUN on the NYSE and will be structured as a C Corporation. The combined company will be headquartered in Charlotte, North Carolina, and will maintain significant finance and administrative operations in Sandusky, Ohio." https://ir.cedarfair.com/news/news-details/2023/Cedar-Fair-and-Six-Flags-to-Combine-in-Merger-of-Equals-Creating-a-Leading-Amusement-Park-Operator/default.aspx
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Six Flags and Cedar Fair Merge
DiamondbackFan replied to IndyGuy4KI's topic in Kings Island Central Newsroom
It is owned/developed by the Saudi Investment Fund (unlimited government money). Six Flags is licensing their brand to the park. -
Six Flags and Cedar Fair Merge
DiamondbackFan replied to IndyGuy4KI's topic in Kings Island Central Newsroom
It looks like it would be pretty easy to unload the Peanuts IP. In 2017, the licensing agreement was extended to 2025. https://www.prnewswire.com/news-releases/cedar-fair-and-peanuts-worldwide-extend-peanuts-licensing-agreement-to-2025-300517419.html -
That seems like an unnecessary expense. The current Six Flags logo is from 2019.
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Six Flags and Cedar Fair Merge
DiamondbackFan replied to IndyGuy4KI's topic in Kings Island Central Newsroom
No impact to the Six Flags license deal. Also, insidethemagic.net is a clickbait site. -
I don't see why the logo would change. The name of the company will be Six Flags, not Cedar Flags or Cedar Fair. The existing logo is fine.
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Six Flags and Cedar Fair Merge
DiamondbackFan replied to IndyGuy4KI's topic in Kings Island Central Newsroom
From the Six Flags annual report: "Licenses We hold exclusive long-term licenses of the Warner Bros. and DC Comics animated characters at our theme parks throughout the U.S. (except for the Las Vegas metropolitan area), Canada, Mexico and certain other countries. In particular, our license agreements entitle us to use, subject to customary approval rights of Warner Bros. and, in limited circumstances, approval rights of certain third parties, all animated, cartoon and comic book characters that Warner Bros. and DC Comics have the right to license, including Batman, The Joker, Superman, Wonder Woman, The Flash, Green Lantern, Harley Quinn, Aquaman, Bugs Bunny, Daffy Duck, Tweety Bird and Yosemite Sam. The licenses include the right to sell merchandise using the characters and to use the characters in our advertising, as walk-around characters and in theming for rides, attractions and retail outlets. In addition to annual license fees, we are required to pay a royalty fee on any merchandise manufactured by or for us and sold that use the licensed characters. Warner Bros. has the right to terminate the license agreements under certain circumstances, including if any persons involved in the movie or television industries obtain control of us or, in the case of Warner Bros., upon a default under the Subordinated Indemnity Agreement." "License Agreements We are party to a license agreement pursuant to which we have the exclusive right on a long-term basis to theme park use in the United States and Canada (excluding the Las Vegas, Nevada metropolitan area) of all animated, cartoon and comic book characters that Warner Bros. and DC Comics have the right to license for such use. The term of the agreement expires in 2053. The license fee is payable on a per-theme park basis, and is subject to CPI increases and scheduled adjustments, including periodic market resets. In November 1999, we entered into license agreements pursuant to which we have the exclusive right on a longterm basis to parks use in Europe, Central and South America of all animated, cartoon and comic book characters that Warner Bros. and DC Comics have the right to license for such use. Under such agreements, the license fee is based on specified percentages of the gross revenues of the applicable parks." https://investors.sixflags.com/~/media/Files/S/Sixflags-IR-V2/documents/annual-reports/ny20007291x4-ars-six-flags-edgar-asfiled.pdf