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Six Flags to offload theme park properties
Six Flags, the US-based theme park operator, is exploring the “potential strategic options” for six of its properties across the country, including a sale.
The company said that potential options included selling the parks as going concerns as part of either a single deal or multiple transactions, or alternatively dismantling and re-utilising certain rides and selling the underlying land.
The six parks are Darien Park in Buffalo, New York; Waterworld in Concord, California; Elitch Gardens in Denver, Colorado; Wild Waves and Enchanted Village in Seattle, Washington; Splashtown in Houston, Texas and Magic Mountain and Hurricane Harbour in Los Angeles, California.
Mark Shapiro, president and chief executive of Six Flags, said: “We’re making progress with our strategy to focus on the growth of our strongest assets, reduce the company’s debt and generate increased value for our shareholders.”
In March this year, the company sold its Astroworld park in Houston, Texas, for US$77m (£42m, 61.2m euro) and has since announced that it will be selling its two parks in Oklahoma City, Oklahoma. Details: www.sixflags.com
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