Trouble for Six Flags as multiple international projects face delay
Leisure Opportunities
Job search
Job Search
see all jobs
Latest job opportunities
The Dungeons
Competitive
San Francisco, California, USA
Yorkshire Wildlife Park
Competitive
Branton, Doncaster, UK
star job
The Bulgari Hotel London
Competitive Salary & Benefits
London, UK
Welsh Water
£32,392 - £37,027
Conwy, UK
Xercise4Less
Realistic OTE of £30,000
Nationwide, United Kingdom

Trouble for Six Flags as multiple international projects face delay

Job opportunities
Eureka
Circa £42,000 per annum
location: Halifax, UK
Gulliver's Theme Park
Competitive salary and benefits
location: Nationwide, United Kingdom
The Silverstone Experience
Up to £30,000 pa
location: Silverstone, Towcester, UK
more jobs
We now have five locations across three countries, each with separate approvals and funding sources and we're having discussions with multiple potential partners regarding new locations outside of China

Six Flags chief Jim Reid-Anderson has revealed that changes in government are stalling the operator's Chinese projects, while there are "no assurances" as to the outcome of the operator's on-hold Dubai development.

Speaking during an earnings call, the Six Flags boss blamed "macroeconomic events" for the China delays, related to a number of new factors, including a weakening of the Chinese economy, the introduction of new policies and regulations, and the introduction of new leaders in local government.

"The recent turnover of government officials in Chongqing and Nanjing has caused development plans to be temporarily paused until the plan can be reviewed and re-approved by new leadership," he said.

"We've performed a comprehensive review of our project timelines jointly with our partner. Although we have reasons to believe conditions could improve in China during the second half of 2019, we now expect our high-end parks to begin opening in mid to late 2020 versus 2019, our Chongqing parks to begin opening in mid to late 2021 versus 2020 and Nanjing to begin opening in late 2022."

Six Flags also recently revealed major funding issues for its Dubai development. Originally set to be part of the phase two development of DXB Entertainments' Dubai Parks and Resorts, plans were stalled after funding dried up owing to the operator's existing three parks performing poorly since launch. For DXB, the company is yet to post a profit since its public listing in 2014.

"As it relates to Dubai, our project continues to be on hold," said Reid-Anderson. "Our partner at DXB has had well-publicised financial and operational challenges with the first phase of the complex and has been losing money.

"Their Board mandated a strategic review of the future development plans for Phase 2, which includes our park.

"While we continue to work with them on a path forward, there can be no assurances as to the outcome of the project."

Despite these setbacks, Reid-Anderson said the company's international expansion strategy, which operates on a franchise model, was still having a "strong, positive and enduring impact".

"In 2018, we announced five new international parks, all of which will contribute to our long-term growth," he said. "We now have five locations across three countries, each with separate approvals and funding sources and we're having discussions with multiple potential partners regarding new locations outside of China."

Sign up for FREE ezines & magazines
Six flags chief Jim Reid-Anderson has revealed that changes in government are stalling the operator's Chinese projects, while there are "no assurances" as to the outcome of the operator's on- hold Dubai development.
TAW,VAT,PHR
imagesX/THUMB340805_622431_531318.jpg

More News

1 - 15 of 38,522
23 Mar 2019
The V&A Museum of Childhood (MOC) in East London has chosen architecture firm AOC to design the new interiors for its £13.5m (US$17.8m, €15.7m) overhaul ... More
23 Mar 2019
Spartan, the obstacle course and endurance brand, has launched into the corporate wellness market with the development of the Spartafit Challenge App. The app, which was ... More
22 Mar 2019
Neath Port Talbot council has greenlit plans for the Afan Valley Adventure Resort – a highly anticipated leisure destination set to rise on a 325-acre ... More
22 Mar 2019
Drinking a protein shake just before going to bed at night might increase gains in muscle-mass and strength following a resistance workout, according to researchers ... More
22 Mar 2019
A new study has found that taking part in structured exercise such as team sports can reduce levels of depression in boys from the age ... More
21 Mar 2019
The legacy of the Rugby League World Cup – to be held in England in 2021 – will stretch far beyond the immediate horizons of ... More
Focus Training
Focus Training
21 Mar 2019
In a bid to tackle rising overtourism, the Faroe Islands is closing its doors to visitors next month, with a team of volunteers set to ... More
21 Mar 2019
Having Scotland’s first museum of design in their neighbourhood is helping a number of other Dundee attractions to boost their visitor numbers, according to new ... More
20 Mar 2019
The Global Wellness Summit (GWS) has appointed Irene Forte to its advisory board. Forte, who is the daughter of British hotelier Sir Rocco Forte, currently ... More
19 Mar 2019
VisitEngland is looking to provide domestic tourism a boost through a campaign inspiring young Brits to take short breaks at home in England. At the ... More
19 Mar 2019
The Gym Group has tackled investor chatter about stagnation in market penetration by collaborating with PricewaterhouseCoopers (PWC) to release an independent report showing the number ... More
19 Mar 2019
A new alpine-inspired spa has opened at Alpamare Scarborough, a waterpark attraction in Yorkshire, UK. Sitting alongside the waterpark, which opened in 2016, the 1,000sq ... More
Alliance Leisure
Alliance Leisure
18 Mar 2019
The Science Museum Group has opened a new training and education facility as part of its Science Museum Group Academy arm at Manchester’s Science and ... More
18 Mar 2019
London mayor Sadiq Khan has unveiled a drive to promote London to visitors from other parts of the UK in response to a decline in ... More
15 Mar 2019
Double Paralympic gold medallist Jonnie Peacock has launched a new online hub, designed to empower disabled people to become more physically active. Called Parasport powered ... More
Ridgeway Furniture
Ridgeway Furniture
1 - 15 of 38,522
employer of choice
Would you like to work for a gym operator that allows you to develop and use your skills to the full whilst being well rewarded? The Gym is totally committed to allowing 'the manager to manage' and rewarding our key personnel for delivery... More
Active IQ
Active IQ