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Everything posted by DiamondbackFan
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Something is Surfacing 9-19-2024
DiamondbackFan replied to SonofBaconator's topic in Other Amusement Parks & Industry News
This is the project Six Flags Mexico planned to build for 2025 before running into resistance from the local government. Cedar Point had a flat piece of land available and could use something to distract from the TT2 issues. -
Discussing Land and Space in and around Vortex
DiamondbackFan replied to Klabergian Empire's topic in Kings Island
One of the concepts in the passholder survey was to use The Vortex land to extend The Beast and create The Beast 2.0. https://old.reddit.com/r/rollercoasters/comments/1eiqazj/passholder_survey_at_kings_island_shows_a_concept/ -
https://KICentral.com/forums/topic/48437-permits-for-a-soak-city-addition-and-improvements-coming-in-2025/
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Soak City Upgrades & Possible Expansion 2025
DiamondbackFan replied to WoodVengeance's topic in Kings Island
With a new waterpark addition coming in 2025, it might be a good time to rebrand the waterpark to Hurricane Harbor. -
Six Flags and Cedar Fair Merge
DiamondbackFan replied to IndyGuy4KI's topic in Kings Island Central Newsroom
https://investors.sixflags.com/news-and-events/press-releases/2024/06-18-2024-120108856 June 18, 2024 SANDUSKY, Ohio & ARLINGTON, Texas--(BUSINESS WIRE)-- Cedar Fair, L.P. (NYSE: FUN) (“Cedar Fair”) and Six Flags Entertainment Corporation (NYSE: SIX) (“Six Flags”), today announced that they notified the New York Stock Exchange (“NYSE”) that the closing of Cedar Fair and Six Flags’ previously announced merger of equals (the “Mergers”) is expected to occur on July 1, 2024 (the “Expected Closing Date”). The completion of the Mergers is subject to the satisfaction or waiver of a number of conditions set forth in the merger agreement relating to the Mergers, including the satisfaction of regulatory conditions. Six Flags today additionally announced that its Board of Directors has declared a special dividend of $1.53 per share of Six Flags common stock. The dividend is payable on July 1, 2024 to stockholders of record of Six Flags as of June 28, 2024 who hold their shares through the closing of the Mergers. The special dividend is conditioned on the closing of the Mergers and is being declared in accordance with the terms of the merger agreement. Accordingly, the record date and payment date may change based on the actual closing date of the Mergers. Until the Mergers are complete, Cedar Fair’s units and Six Flags’ common stock will continue to trade on the NYSE. Upon the closing of the Mergers, (i) Cedar Fair’s units, which currently trade on the NYSE under the ticker symbol “FUN” and (ii) Six Flags’ common stock, which currently trade on the NYSE under the ticker symbol “SIX,” will cease to be listed on the NYSE following the closing of the Mergers and will each be deregistered under the Securities Exchange Act of 1934, as amended. Immediately following the closing of the Mergers, the combined company will be renamed “Six Flags Entertainment Corporation” and trading of the combined company’s common stock on the NYSE is expected to begin on the day following the Expected Closing Date, July 2, 2024, under the ticker symbol “FUN.” https://investors.sixflags.com/news-and-events/press-releases/2024/06-18-2024-120509559 June 18, 2024 SANDUSKY, Ohio & ARLINGTON, Texas--(BUSINESS WIRE)-- Cedar Fair, L.P. (NYSE: FUN) (“Cedar Fair”) and Six Flags Entertainment Corporation (NYSE: SIX) (“Six Flags”), today announced the senior management team that will lead the combined company following the completion of their previously announced merger of equals (the “Mergers”). As previously announced, upon closing of the transaction, Richard Zimmerman, President and Chief Executive Officer of Cedar Fair, will serve as President and Chief Executive Officer of the combined company and Selim Bassoul, President and Chief Executive Officer of Six Flags, will serve as Executive Chairman of the combined company’s Board of Directors. After completion of the Mergers, the following leaders will report to Zimmerman in the combined company: Tim Fisher, Chief Operating Officer (currently in same position at Cedar Fair) Brian Witherow, Chief Financial Officer (currently in same position at Cedar Fair) Brian Nurse, Chief Legal & Compliance Officer, and Corporate Secretary (currently in same position at Cedar Fair) Christian Dieckmann, Chief Strategy Officer (currently in same position at Cedar Fair) Gary Mick, Chief Integration Officer (currently Executive Vice President and Chief Financial Officer at Six Flags) “We are fortunate to have a proven team of leaders who bring decades of park operating experience and significant expertise in integrating businesses and achieving synergy targets for the combined company,” said Zimmerman. “Their insights and complementary skill sets will be instrumental as we combine two of North America’s iconic amusement park companies and forge a new future together.” The closing of the Mergers is expected to occur on July 1, 2024, subject to satisfaction or waiver of a number of conditions set forth in the merger agreement, including the satisfaction of regulatory conditions. Upon closing of the transaction, the combined company will operate under the name Six Flags Entertainment Corporation, trade under the ticker symbol “FUN” on the NYSE, and 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. -
Six Flags Great America will get solar power soon. Comments by Selim Bassoul on the Q1 2024 Earnings Call: "Before opening the call for your questions, I want to highlight an initiative that we are particularly proud of. This summer, we expect to complete our third major solar installation at Six Flags Magic Mountain which is expected to save over $100 million over the next 30 years and it will provide a convenient shaded parking option for our guests. That is another convenience for our guests. Combined with our solar installation at Six Flags Great Adventures and Six Flags Discovery Kingdom, we will be the largest producer of car port solar power in North America. Also, we have finalized plans to launch our fourth solar installation project at Six Flags Great America. These initiatives are a win-win for everyone we serve. They serve our guests by improving our parking lots, they serve our communities by using renewable energy to power our parks and they serve our shareholders by reducing our operating costs." https://seekingalpha.com/article/4691402-six-flags-entertainment-corporation-six-q1-2024-earnings-call-transcript
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Testing Continues on Top Thrill 2
DiamondbackFan replied to DonHelbig's topic in Other Amusement Parks & Industry News
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.
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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