The-Snapper Posted September 21, 2005 Share Posted September 21, 2005 The SEC document filed Friday includes a copy of a letter Snyder wrote to Michael Gellert, presiding independent director of the Six Flags board, arguing against the planned divestment of the 109-acre Houston park. Six Flags’ industry competitor, Cedar Fair, has expressed an interest in picking up the park for its own chain, Snyder said. He said the sale would be inappropriate without stockholders’ approval. This is very interesting if u ask me! I have my mixed feeling about this! Quote Link to comment Share on other sites More sharing options...
TheKlockster Posted September 21, 2005 Share Posted September 21, 2005 I thought one of the main reasons it was shutting down was due to low attendence and the fact that it shares a parking lot with the Astrodome. It doesn't matter whos running it - if it has parking problems, it has parking problems. What's with SF parks sharing parking lots with things anyways... Quote Link to comment Share on other sites More sharing options...
CoastersRZ Posted September 21, 2005 Share Posted September 21, 2005 Well, I`m sure the coaster enthusiasts down in Houston want Cedar Fair to buy the park and keep it open! I would imagine that the park does okay, being in the Houston area and all. Hopefully Cedar Fair, if they are interested in it, will purchase it and save another park from going to the amusement park in the sky! Quote Link to comment Share on other sites More sharing options...
The-Snapper Posted September 21, 2005 Author Share Posted September 21, 2005 they share the paring lot with The Reliant center (Texans and Rockets play)! Hopefully someone will resolvr the problems and keep the park up Quote Link to comment Share on other sites More sharing options...
The-Snapper Posted September 22, 2005 Author Share Posted September 22, 2005 If they get it I could see them taking down some of the rides and expand the water park! They need to repaint soem of the rides and make them more appealing! Quote Link to comment Share on other sites More sharing options...
Admiral Ackbar Posted September 22, 2005 Share Posted September 22, 2005 They should paint them all white... Yay for double posting! SF could save some money and just relocate all the SFAW rides to other SF parks instead of buying those other SF parks new rides... Same with the rides at Six Flags Under Lake Ponchartrain... Quote Link to comment Share on other sites More sharing options...
SkootersFan Posted September 22, 2005 Share Posted September 22, 2005 How to not so successfully built a city udner sea level! Quote Link to comment Share on other sites More sharing options...
Admiral Ackbar Posted September 22, 2005 Share Posted September 22, 2005 Indeed... Quote Link to comment Share on other sites More sharing options...
flightoffear1996 Posted September 22, 2005 Share Posted September 22, 2005 If thisa park is still standing after the hurricane I could see CF buying it but why. I hope they dont cause then CF may head down the same path Six Flags did. Quote Link to comment Share on other sites More sharing options...
CoastersRZ Posted September 22, 2005 Share Posted September 22, 2005 I do not think Cedar Fair will head down the same path that Six Flags did. The main reason being that they pride themselves on remaining profitable (and increasing the performance for their stock). Cedar Fair knows that the essence and vitality of their parks are the guests that come and spend money in their parks. THey know that they have to please these guests to keep them spending money at their properties. That is the chief difference between Six Flags, and Cedar Fair. While expanding may hinder them from posted as high of earnings, they know how to run a park successfully, and I am sure if they are interested, they will make it work for their interest, or face the wrath of their shareholders. Quote Link to comment Share on other sites More sharing options...
The-Snapper Posted September 22, 2005 Author Share Posted September 22, 2005 Yeah they would make it work clean the park up and make it profitable agian! Quote Link to comment Share on other sites More sharing options...
erniebald57 Posted September 22, 2005 Share Posted September 22, 2005 Cedar Fair is always mentioned when a Six Flags park comes up for sale. Unfortunately, I think that this one is a bit of wishful thinking. Astroworld is in downtown Houston...prime real estate with high property value. That spells money for Six Flags if they were to sell the land to the highest bidder. I too shudder to think that another amusement park would close in order to build a shopping mall or a parking lot, but it doesn't look good, unless the city of Houston decides to find a way to keep it running. I look for the big rides to either be sold or moved to another park I don't expect that Cedar Fair would be interested in a downtown park with limited space, parking problems, and a city code to deal with. Magic Mountain??? That's a different story. Quote Link to comment Share on other sites More sharing options...
Gordon Bombay Posted September 22, 2005 Share Posted September 22, 2005 They share the parking lot with the astrodome, the Reliant center is across the street from the Astrodome. The reason they want to sell the park is because the land is very valuable. Back on the late 70's Astroworld needed money and sold off part of their land to a car dealership to make some money. Yes it is a problem that they share a parking lot with the astrodome but the astrodome is rarely used now, atleast for sporting events and concerts. My dad worked in Astroworld back in the 80's and many of his friends still do and live in the area. They are extremely angered by Six Flags decision to sell the park. The last new ride Astroworld got was Serial Thriller in 1999 and SWAT a year or two later. It would be fantastic if Cedar Fair bought this park and turned it back around. They could get some new coasters, and the park would look beautiful. Six Flags sucks. Quote Link to comment Share on other sites More sharing options...
Browntggrr Posted September 22, 2005 Share Posted September 22, 2005 What's with SF parks sharing parking lots with things anyways... They don't have the option of having a parking lot coaster... Quote Link to comment Share on other sites More sharing options...
KIBeast Posted September 22, 2005 Share Posted September 22, 2005 This rumor has been all over the internet. CF might buy Astroworld, but don't count on it. Any time a park is being sold, CF's name comes up and people say that they are interested. Quote Link to comment Share on other sites More sharing options...
jzarley Posted September 22, 2005 Share Posted September 22, 2005 There's a good discussion of this over on Coasterbuzz: http://www.coasterbuzz.com/forum.aspx?mode...d&TopicID=43148 I thought Jeff (on CB) made an excellent point...why would Dan Snyder know anything about any discussions between CF and SF? Granted, he's the largest single shareholder, but that wouldn't give him access to information not available to other shareholders or the investment community at large. (There's SEC rules about that kind of thing...) Also, CF prides itself on making shrewd ROI acquisitions. The main issue with SFAW is that the land the park sits on is worth more to developers than the value of the park itself. Therefore, CF would have to meet or best the price for which SF could sell off the land. Paying more for a park than it's actually worth just to get the park would be a complete departure from the conservative style in which CF has always managed the company. (And, trust me, if they would--CF unit holders would be screaming.) Joel Quote Link to comment Share on other sites More sharing options...
The-Snapper Posted September 22, 2005 Author Share Posted September 22, 2005 I think the only way Cedar Fair would buy AstroWoeld is if they get it for a really cheap price! I think they could solve there own parking isssues by taking out the southern star ampletheater and make that the new entrance to the park! They can tear out XCLR8( old arrow Sus) that takes up a lot of space! they can also take out the wave pool and the water slide next to the wave pool and build a parking garage! This will solve space issues and they can Re do the water park a lot like Geauga Lake did! These are just some Ideas i have Id hate to see this park close ! Quote Link to comment Share on other sites More sharing options...
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