DiamondbackFan
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Posts posted by DiamondbackFan
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27 minutes ago, KIBeast said:
I see this appears to be another Vekoma family boomerang,
It's not, this is a clone of Snoopy's Racing Railway at Canada's Wonderland.
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One of the concepts in the passholder survey was to use The Vortex land to extend The Beast and create The Beast 2.0.
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21 minutes ago, jbeast said:
Well with the posts today by the park, hoping for a Cheetah Chase type of racing water coaster! Just went to Holiday a couple weeks ago and really enjoyed the water coasters. And the tons of Voyage rides!
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Permits have been submitted, a Master Blaster water slide and Kiddie Pool upgrades are coming.
https://www.whitewaterwest.com/en/products/water-slides/blasters/master-blaster/
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With a new waterpark addition coming in 2025, it might be a good time to rebrand the waterpark to Hurricane Harbor.
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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.
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On 8/5/2023 at 7:54 PM, Tr0y said:
I’m surprised this hasn’t been done by more amusement parks.
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."-
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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.
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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.
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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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The Six Flags stockholders approved the merger.
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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.."
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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.
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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."
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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
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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.
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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.
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SeaWorld has also taken control of the old trademarks for "United Parks". United Parks was a company that used to operate RYE Playland.
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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.
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"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
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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?
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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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Something is Surfacing 9-19-2024
in Other Amusement Parks & Industry News
Posted
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.