DiamondbackFan
-
Posts
174 -
Joined
-
Last visited
-
Days Won
2
Content Type
Profiles
Forums
Calendar
Posts posted by DiamondbackFan
-
-
1 hour ago, DonHelbig said:
I'm on the same page. Excited to see where this could lead for Zamperla.
It will be interesting to see if they are involved in Project 305 at Kings Dominion.
-
CarowindsProjectSparrowSitePlan.pdf
The plans appear to include a clone of the Snoopy's Racing Railway coaster that was installed at Canada's Wonderland.
-
1
-
-
The Six Flags stockholders approved the merger.
-
1
-
-
10 hours ago, Kenban said:
The Six Flags Mexico lease even expires this year, it has been stated by Six Flags they are close to working out a new lease for the park, but nothing is guaranteed.
The new annual report footnote says:
"(2)The permit agreement is with the Federal District of Mexico City. The agreement expires in 2034.."
-
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.
-
3
-
-
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."
-
2
-
-
23 hours ago, Shawn Meyer said:
When are the Six Flags unit holders supposed to vote on the merger? Everything is too quiet lately.
March 12th
https://otp.tools.investis.com/generic/sec/sec-show.aspx?ipage=17224713&Cik=0000701374&Type=PDF
-
2
-
1
-
-
In case you missed it:
QuoteThe Merger Agreement contemplates the payment of a cash transaction bonus (the “Closing Bonus”) of $3,000,000 to Mr. Selim Bassoul, the Chief Executive Officer of Six Flags, upon consummation of the transactions contemplated by the Merger Agreement (the “Mergers”). Effective on December 20, 2023, Six Flags entered into a letter agreement with Mr. Bassoul (the “Letter Agreement”) to memorialize the terms of such Closing Bonus. The Letter Agreement provides that fifty percent of the Closing Bonus ($1,500,000) will be paid to Mr. Bassoul no later than December 31, 2023, in the form of restricted stock (the “Restricted Stock Closing Bonus”) granted under the Six Flags Entertainment Corporation Long-Term Incentive Plan, and which will vest at the consummation of the Mergers, and which will vest at the consummation of the Mergers, subject to Mr. Bassoul’s continued employment with Six Flags through the consummation of the Mergers. The remaining fifty percent of the Closing Bonus ($1,500,000) will be paid in a cash lump-sum payment (the “Cash Closing Bonus”) at the consummation of the Mergers, subject to Mr. Bassoul’s continued employment with Six Flags through the consummation of the Mergers. In the event Mr. Bassoul’s employment with Six Flags is terminated prior to the consummation of the Mergers other than for Cause or Mr. Bassoul resigns for Good Reason (as such terms are defined in Mr. Bassoul’s employment agreement, dated November 14, 2021, between Mr. Bassoul and Six Flags), the Restricted Stock Closing Bonus shall immediately vest and the Cash Closing Bonus shall be paid in full within thirty days following the date of such termination.
-
1
-
1
-
-
13 hours ago, CoastersRZ said:
What is interesting is that Sea World Entertainment is renaming themselves to United Parks and Resorts. One can`t help but wonder what would happen if they merged with the Six Flags/Cedar Fair? Again the economics might not work out, and there are a few markets where they have some overlap (Texas and Virginia), but Sea World was interested in Cedar Fair before.
I think United Parks and Resorts merging with Parques Reunidos would make more sense.
-
1
-
-
SeaWorld has also taken control of the old trademarks for "United Parks". United Parks was a company that used to operate RYE Playland.
-
6 hours ago, Kenban said:
To my knowledge the park has not received any track or supports for the coaster. Any vertical construction to my knowledge is going to be station, theming, or something else.
Goto: https://www.importgenius.com/importers/kings-island
and click the shipments tab.
-
2
-
-
"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
-
1
-
-
On 12/28/2023 at 4:56 PM, beastfan11 said:
Took a good portion of my day to attempt to contact our city officials.
0/10 answered their phones.
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."
-
3
-
-
-
1
-
-
16 hours ago, PKIDelirium said:
If this all works out, I can see them having Zamperla replace the launch system and trains on Xcelerator. Wouldn't need a multi-launch spike to get the speed needed there.
I think they would just replace Xcelerator with a higher capacity B&M. Maybe a wing coaster. I could see them having Zamperla work on Kingda Ka next, but I am curious if Intamin would stop supporting the Drop Tower that is attached to it.
-
1 hour ago, disco2000 said:
And people thought Cedar Fair gave away the gate.
I thought the SIX CEO said he was trying to improve the clientele by charging more.
I guess that idea didn't last now that they are merging
That plan already failed and they reverted back to the old way earlier this year.
-
1
-
-
Shipping record.
-
3
-
-
2 hours ago, Tr0y said:
I don’t have X.
Not many people do, anymore.
-
13 hours ago, disco2000 said:
At some point KI will get Six Flags associated with it. Probably not the blatantly obvious Six Flags over Kings Island, but more subtle like Great Escape - A Six Flags Theme Park.
The park was rebranded as Six Flags Great Escape recently. Here is the new entrance sign.
-
2
-
-
13 minutes ago, Cedar Fair Fanboy said:
Cedar Flags makes sense.
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."
-
3
-
-
5 hours ago, jzarley said:
Is it SF owned/developed or is it owned by a 3rd party that is licensing the Six Flags name?
The new SeaWorld “park” (most of it is indoors) in Abu Dhabi is like that—a third party built, owns and operates it, but SEAS licensed their brand and provided consulting during development. If that’s the same scenario in Qiddiya there’s probably no reason for it not to move forward with the mergerIt is owned/developed by the Saudi Investment Fund (unlimited government money). Six Flags is licensing their brand to the park.
-
3
-
-
It looks like it would be pretty easy to unload the Peanuts IP. In 2017, the licensing agreement was extended to 2025.
-
2
-
1
-
-
10 minutes ago, WoodVengeance said:
Given that this is supposed to be a new company under the leadership of both Cedar Fair and Six Flags, a new logo would definitely help convey that this isn't going to be the same Six Flags. Also, that Six Flags logo has been used since the 90's, so a modern refresh wouldn't hurt.
That seems like an unnecessary expense. The current Six Flags logo is from 2019.
-
2
-
Cedar Fair Announces Conditional Full Redemption of All Outstanding 5.500% Notes Due May 2025
in Other Amusement Parks & Industry News
Posted
4. The 2025 notes are secured notes (the parks are collateral for the loan). Cedar Fair might see an opportunity to replace these notes with new unsecured notes (the parks are not collateral for the loan). Cedar Fair's 2027, 2028, and 2029 notes are unsecured.