SIXFQ: Agreement To Develop Theme Park In Nigeria:

The Government of Cross River State of Nigeria and Six Flags, Inc. (SIXFQ) announced plans to develop a Six Flags branded theme park in Calabar Cross River State as part of the State's "Destination Tourism" development plan.

Under the binding agreement, Six Flags will provide concept development and master planning services to Cross River State Government for the creation of a Six Flags branded theme park located on approximately 250 acres contiguous to Tinapa Business Resort. Once the initial phase is finalized, Six Flags and CRSG will collaborate on the detailed design, development, construction and management of the location. The park is scheduled to open in 2013....

http://www.tradingmarkets.com/.site/news/S...20News/2531116/

They're doing this after filing bankruptcy (sp?)?

The VERY first thought I had when I saw this...Is this like those emails I get about banks in Nigeria?

^^ Go Six Flags!!

They really don't learn do they? I mean I guess this is just lending the name but the last time 6 Flags did a European park it wasn't pretty. They seem not to realize that the name isn't quite as big overseas.

^^Well that doesn't help any. I was hoping you would have some insight as to why they did this.

I believe it is called money. Six Flags is in essence selling/renting/leasing its name and expertise in exchange for a consideration (legal mumbo jumbo for they sold something, they get something...usually money or some other benefit).

So is it another company that will financa the park, but Six Flags will help plan, develop, and run it?

Key word "help." I doubt Six Flags will be much involved in the operation of the park. It also makes you wonder who would hire a company to assist when that company is in bankruptcy and no one knows for sure who will run the company in the future or even if it will exist. More than anything else, no matter how much this is gussied up, I see this as a rental/lease/sale of the Six Flags naming rights in Nigeria.

Oh, okay. So this may just be a deal for them to make money from their name, while having very little to do with the park in terms of spending?

More like while not spending anything that isn't reimbursed or paid for in advance by the Nigerian developer.

Maybe this is what the money from all of the Nigerian phishing scams is going towards???