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Six Flags Entertainment (SIX) in Bid to Acquire Cedar Fair L.P. (FUN) - Reuters

ohiocoasterfan

By ohiocoasterfan,
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SonofBaconator KIC Legend

SonofBaconator

Posted
Posted
4 minutes ago, JonahWilliamson said:

Yeaaaaa..... Vortex isnt closing due to the brakes..... Remember when it was down for like two weeks for a cracked support. Bring up the rides history. Dont just find something to make a video.

You have to stay with the current events I guess. Must be hard to loop videos while giving opinions.

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Shaggy
Shaggy

I never, ever thought I'd say this.  But I'd probably not attend KI anymore if it fell under Six Flags.  My heart just couldn't take it. Their operations/upkeep/disregard for history is abysmal. 

Queue Lines
Queue Lines

I added our park to the Six Flags corporate logo just to see what it would look like. If you are easily frightened, look away now.      

Gordon Bombay
Gordon Bombay

I, for one, welcome our Six Flags overlords. 

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kiisgreat KIC Tourist

kiisgreat

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2 hours ago, TheRickster said:

I think it would become an issue with the size of the company vs. the size of their competitors. There are a lot of weird laws and roadblocks with mergers and I'm sure with the industry already being so limited they would run up against quite a few walls to climb.

Disney was allowed to buy 21st Century Fox which most people thought would be a monopoly. I think the govt is becoming a lot more lenient on mergers and acquisitions.

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ThrillKingsFitzy KIC Star Member

ThrillKingsFitzy

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Don’t know if you guys saw, but on Amusement Insiders new video, he says he has been researching and he thinks all of this is about six flags going out of business and Cedar Fair getting all their parks. Six flags is going down in stocks a lot, and they don’t have a CEO, so, it would make sense that Cedar Fair gets all of their parks and six flags retires. Plus, we would all appreciate it.

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Benjamin22 KIC Star Member

Benjamin22

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2 minutes ago, Fitzcoasts14 said:

But seriously, how has nothing been confirmed yet?

They’re probably either still in the talks or they’ve been waiting to send out a response. Pretty obvious why they didn’t do that conference today, especially considering how volatile the stock has been.

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BeeastFarmer KIC Legend

BeeastFarmer

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1 hour ago, Fitzcoasts14 said:

Don’t know if you guys saw, but on Amusement Insiders new video, he says he has been researching and he thinks all of this is about six flags going out of business and Cedar Fair getting all their parks. Six flags is going down in stocks a lot, and they don’t have a CEO, so, it would make sense that Cedar Fair gets all of their parks and six flags retires. Plus, we would all appreciate it.

Yet, many of the financial gurus have praised SIX as of late for their good return on investment.  They are looking long term, not short term.  Remember last year when everyone was claiming the sky was falling because of the weather issues at FUN?  FUN executed and now they are the darling.  And SIX has a CEO, he retires next year.  

If the tables were turned and FUN acquired SIX, even in a "fire sale" situation, they would also inherit all the debt SIX currently has, all the liabilities they have in addition to the assets.  They would also inherit future debt because of the cost of bringing SIX parks up to FUN standards (see the disaster that happened with SFWOA).  That scenario would likely see many park sales or closures.

 

It's highly doubtful that any combination will occur and both companies will continue to expand their footprint by acquiring smaller competitors as they have been doing.  Barriers to entry are high and that makes smaller parks and waterparks a target.  I'd also say that SEAS may still be an attractive target since many of their properties are in locations that could get year round use.  Also, smaller parks like Kentucky Kingdom (for FUN, I doubt that would be a target because of the proximity, but these types and sizes of parks) would be targeted because of the opportunity for growth.  

Or, they could just continue on the paths they are currently on.  

 

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Hawaiian Coasters 325 KIC Superstar

Hawaiian Coasters 325

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20 minutes ago, BeeastFarmer said:

Yet, many of the financial gurus have praised SIX as of late for their good return on investment.  They are looking long term, not short term.  Remember last year when everyone was claiming the sky was falling because of the weather issues at FUN?  FUN executed and now they are the darling.  And SIX has a CEO, he retires next year.  

If the tables were turned and FUN acquired SIX, even in a "fire sale" situation, they would also inherit all the debt SIX currently has, all the liabilities they have in addition to the assets.  They would also inherit future debt because of the cost of bringing SIX parks up to FUN standards (see the disaster that happened with SFWOA).  That scenario would likely see many park sales or closures.

 

It's highly doubtful that any combination will occur and both companies will continue to expand their footprint by acquiring smaller competitors as they have been doing.  Barriers to entry are high and that makes smaller parks and waterparks a target.  I'd also say that SEAS may still be an attractive target since many of their properties are in locations that could get year round use.  Also, smaller parks like Kentucky Kingdom (for FUN, I doubt that would be a target because of the proximity, but these types and sizes of parks) would be targeted because of the opportunity for growth.  

Or, they could just continue on the paths they are currently on.  

 

Six Flags already owned Kentucky Kingdom and we saw how that went. I hope they don't try and get KK again. 

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BeeastFarmer KIC Legend

BeeastFarmer

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^Actually the Fair Board owns Kentucky Kingdom.  SF had the contract to run it.  Mr. Hart et al currently have the contract.  If this group wanted to sell to SF, the would have to get the authority to do so from the Fair Board, whom I think would be reticent to do so.  I do have a small fear that they may try and do that, though--because it fits into the strategy that they have used in the last couple of years.  The only benefit for me personally is the opportunity to process my pass one hour away vs 6 hours away if I choose to become a SF passholder again, plus the fact I could get into all SF parks for around the same price (presumably) that I pay for a KK pass.  And the use of KK was just an example, I have no idea if SF would be interested in it.

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Winterfestguy KIC Junky

Winterfestguy

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There is still some very bad feelings among the Kentucky State Fair Board members of how Six Flags closed the park and took several rides with them.  While Ed Hart once again may be looking to make a profit from a sale if approached by Six Flags, I the State Fair Board (who owns the land) would likely not approve of a sale to Six Flags again.

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bjcolglazier KIC Senior

bjcolglazier

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6 minutes ago, RollerNut said:

Merlin was bought by LEGO....

Cedar Fair not issuing a statement is a better sign that the rumor is false than coming out and saying it is false. 

I'm gonna assume that was a joke.  Anyway, a lot of folks are making assumptions that this is a Six Flags buyout, whereas my understanding is it would be a merger.  What's the difference? Well, potentially a lot of personnel at FUN would be retained---even at high levels of the newly merged company. If Six Flags is willing to learn how to run things better by keeping the good folks that FUN employs, this could work. The "good" parks would stay good, and other parks that need to be better might become so.

Just a thought!

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FUN&ONLY! KIC Platinum Member

FUN&ONLY!

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9 minutes ago, sixohdieselrage said:

Cedar Flags doesnt sound too bad....

I honestly just don’t want Kings Island’s name to be changed to anything else. Cedar Flags is not bad, but I see it as a possibility that if they merged it would become Six Flags - Cedar Fair with each of Six Flag’s and Cedar Fair’s current parks retaining the same names. Same company, two different sets of parks! There is no way in heck that they will own almost 30 parks and still have one $60 pass that gets you into each and every one. Some people are arguing for Six Flags to buy Cedar Fair, so they don’t have to spend the extra money on two passes. I slap myself on the face when I hear that.

People familiar with Six Flags will want their park to be called Six Flags and people familiar with Cedar Fair parks will want their parks to not be named Six Flags! I for sure don’t want Kings Island to be a Six Flags! Nobody else does either!

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bjcolglazier KIC Senior

bjcolglazier

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The one good thing is that a lot of the same folks who run the parks we love are the same ones evaluating this "deal". I can only hope their judgement is good. At the end of the day it's a "shareholder decision", but those are many of the same people that have been running the parks for many years in one way or another...not just some random rich people who could care less.

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King Ding Dong KIC Legend

King Ding Dong

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27 minutes ago, FUN&ONLY! said:

There is no way in heck that they will own almost 30 parks and still have one $60 pass that gets you into each and every one. 

I wouldn’t be so sure about that. Even with adding new parks SIX has not raised prices and only a small percentage of passholders/members take advantage of that anyway. Maybe a bit more on the east coast.  

1 minute ago, OLFOF96 said:

Personally prefer Six Fairs

Agree but Six Cedar Points would be awesome.  

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bjcolglazier KIC Senior

bjcolglazier

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1 minute ago, King Ding Dong said:

I wouldn’t be so sure about that. Even with adding new parks SIX has not raised prices and only a small percentage of passholders/members take advantage of that anyway. Maybe a bit more on the east coast.  

I think they'd raise the price a tad, but I generally agree. I think Cedar Point might get an exception to the rule, but beyond that I think you're right. 

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King Ding Dong KIC Legend

King Ding Dong

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3 minutes ago, bjcolglazier said:

I think they'd raise the price a tad, but I generally agree. I think Cedar Point might get an exception to the rule, but beyond that I think you're right. 

But don’t forget CF just dropped the bottom out on CP passes with the $99 Gold including parking and CPS.  Tons of people bought Platinum for just those two perks and the increase in attendance has been HUGE. 

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