Will This Be SIX's Last Summer?

[GADVwow]

http://www.thestockmasters.com/SIX-FLAGS-062708.html

[WadeJ]

For those that don't click links within articles or perhaps didn't read the entire thing, this is worth a read to - http://valueplays.blogspot.com/2008/05/theme-parkshmmmm.html

Scary stuff though.  Especially with lines like this

Six Flags is the only company I have ever seen that has a debt level ($2.3 billion) that is 14 times larger than it market cap ($160 million). Stunning....

This is why I try my hardest not to get worked up over missing/closed rides.  Seriously folks, we may have much worse to look forward to if they don't pull it off this season.  And I'm not certain the money drain of these missing/closed rides would have swayed the public one way or the other.  They are coming for the big coasters anyway.

[darkridedan]

If they would generally stop pissing people off by fixing what was never broken and fix what is broken and stop removing people's favorites, they wouldn't be in such debt... like the other major theme park operators. If they would take unpopular rides out like Jolly Roger, Tango, HALF the kiddie rides at SFGAdv (like they did with the adult rides,) and the top spin that doesn't spin, nobody WOULD notice. But how often do they replace the GOOD rides after they are removed?

Part of the blame goes to Priemer for installing crap like the floorless and flying coasters (maybe not crap, but hardly necessary) and maintenance nightmares like X and the Deja Vus. Building up parks like Geauga Lake while GAdv and MM fell apart was pretty dumb even at the time. Time Warner and Preimer were both to blame for adding too many coastes to certain parks (SFMM, SFGAm and SFGAdv with Viper, Chiller, Medua and S:UF.) The problem has always been Six Flags telling guests that it was 'all about the coaster,' while offering guests so little else. The difference between the magnitude in Kingda Ka and El Toro with the little bit of theming in The Dark Knight coaster is telling of how this new Six Flags sees rides that aren't "the big 54'er." 

They had to learn how to juggle their balls much sooner, just like every other theme park operator. Most parks have clean midways, freshly painted buildings, well manicured gardens without weeds, friendly employees who can get trains out of the station in a reasonable amount of time without blaming it on the guest's loose articles, a variety of family and high thrill coasters and flat rides and maybe even a dark ride, without ever acting like God passed them up on some miracle. Believeing in a higher power other than your self always yields better results than trying to manipulate people into what we are supposed to want. ALWAYS.

I agree that people come for the coasters. And just like at the 50+ other parks I'ver been to, we like to take a break on the water rides and the flat rides and maybe even catch a big show. I can't say I've ever stayed at a park as long as I could to catch a parade. I usually ride the rides until I can't take it anymore. But that's me. What do I know with my 5 season passes?

[Dubya91]

That is very scary to hear, although this has been know for a few months now. What scares me ever more is that SFI sold parks, and didnt build as much, yet the debt continues to grow. It seems to me like actions were taken to turn the train around into the profit direction but they weren't enough which is very spooky because that means that worse may be coming.

Part of the blame goes to Priemer for installing crap like the floorless and flying coasters (maybe not crap, but hardly necessary) and maintenance nightmares like X and the Deja Vus. Building up parks like Geauga Lake while GAdv and MM fell apart was pretty dumb even at the time. Time Warner and Preimer were both to blame for adding too many coastes to certain parks (SFMM, SFGAm and SFGAdv with Viper, Chiller, Medua and S:UF.) The problem has always been Six Flags telling guests that it was 'all about the coaster,' while offering guests so little else. The difference between the magnitude in Kingda Ka and El Toro with the little bit of theming in The Dark Knight coaster is telling of how this new Six Flags sees rides that aren't "the big 54'er."

Premier/Time Warner both did very very stupid things. They spent tons of money carelessly and would cut corners constantly with many things. Some of these cut corners is why Chiller and Viper are not standing today. Also, the over-expansion of parks that were not fairing well wasnt too bright either. Also in these parks, some of the small hometown feel of them was taken away, which ultimately pissed off customers.

X & De Ja Vu are tricky things. SFI cant be blamed 100% for it because they were prototypes and they took a chance. Nobody knew how they were perform and their uniqueness would attract people to ride them. The thing is, they were built at the wrong times and should have been spaced out better. MM I believe at one time advertised they were opening or building 3 coasters at the same time. Great for the rider, but very stupid from a business standpoint.

The idea of "If You build it they will come" sounds very good and works but only for a short amount of time.

The new management has their heart in the right place, but they are unfortunately not producing the numbers. As Dan said, the SIX fan-base is very coaster hungry as that how it has been for years. The new management is in a sense going against this tradition which is why it is very difficult. I REALLY REALLY hope that the budget can be balanced soon, or even some of the debt knocked down

I pose a very interesting question, I hope it never comes to this but, would FUN(CF) buy out SIX and would it be allowed by the gov't?

[WadeJ]

FUN will be just as screwed up as SIX in 2-3 years.  They just had a better legacy to go with that hasn't scared the shareholders....yet.

Dan, even as a dad with 3 youngsters, I have to agree.   Great Adventure now has TOO many kids rides and no intermediate rides or water rides.

Somehow, parks like Busch Gardens and even Dorney manage to get by with really adding very little year after year.  We have a habit of adding entire new sections while butchering old ones.  BUT, I still firmly believe the current management has the right frame of mind.  They just need to prove to the shareholders that thier plan is working.  If things were to slowly start gaining confidence, we would slowly pull out of the situations we are complaing about.  But right now there is literally no money left to make it happen.

[WadeJ]

And watching that stock drop under $1.31 is freaking me out right now.

That is just insanely bad.

[GADVwow]

Update: SIX Flagging:

http://www.washingtoncitypaper.com/blogs/citydesk/2008/06/27/update-six-flagging-21/

[overlord]

After riding X2, I have to say that I do truly understand why this ride is such a pain in the arse and why there are only 2 coasters like it in the world. When you have to put out $6 million just to upgrade it really is kind of ridiculous. I just hope they can turn this around eventually and bring the park back up from the dark ages.

[GADVwow]

And Wade is very insightful and very right.

The FUN is over:

http://www.dividend.com/blog/?p=543