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  1. #1

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    Six Flags Pulling Plug on Sacramento Waterpark - amusement business - 4/12/2006

    http://www.amusementbusiness.com/amu..._id=1002343364

    April 12, 2006
    Six Flags pulling plug on Sacramento waterpark

    Six Flags Inc. won't renew the lease for its waterpark in Sacramento, Calif., after this season, the Sacramento Bee reports.

    Six Flags Waterworld Sacramento, in business since 1981, occupies a strategic 14-acre spot in the heart of Cal Expo, the site of the annual California State Fair. The waterpark could be torn down after the fair concludes Sept. 4, making room for new entertainment.

    Six Flags spokesman Paul Garcia confirmed the lease termination but would give no explanation. "What happens after this season with the facility is up to Cal Expo," he told the newspaper.

    "Six Flags has notified us of their intent to terminate the lease after the 2006 season," Brian May, Cal Expo deputy general manager, told the Bee. "There isn't much more we're able to say at this point. We are considering several other possibilities for the property."

    Several operators ran the waterpark before Six Flags took over 10 years ago. The company operates another waterpark, Six Flags Waterworld Concord, about 70 miles south of Sacramento.

    Six Flags closed its AstroWorld park in Houston in October and recently announced that its New Orleans property, damaged by Hurricane Katrina, would not open this season. The company, under new management, has also put Six Flags White Water Bay in Oklahoma City on the sales block.

    In other company news, Six Flags has agreed to pay Daniel Snyder $10.4 million to reimburse him for expenses he incurred in his bid to gain control of the company last fall, including a $5 million signing bonus for CEO Mark Shapiro, the Washington Post reports.

    Red Zone Llc., the investment vehicle for Snyder's 11.7% stake in Six Flags, spent $11.6 million to persuade shareholders to turn the theme park operator over to Snyder and his team, according to an SEC filing. Snyder, now chairman, had asked to be reimbursed for $11.4 million.

    The company's previous management, led by chairman and CEO Kieran Burke and chief financial officer James Dannhauser, spent $9.4 million on legal, investment banking and other fees in their effort to retain control, according to the SEC document.


  2. #2

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    Re: Six Flags Pulling Plug on Sacramento Waterpark - amusement business - 4/12/2006

    What? That waterpark was one of the things that made Cal Expo so unique! It sounds like Six Flags is getting out of the water park business altogether.
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    Re: Six Flags Pulling Plug on Sacramento Waterpark - amusement business - 4/12/2006

    Interesting to see what will happen with Waterworld. As a Sacramento native I always take the monorail around Cal Expo ( the outside of the monorail is prettier than Disneyland's. ) And Waterworld has gone down hill the last several years. Manteca Waterslides are better and not that far away.

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    Re: Six Flags Pulling Plug on Sacramento Waterpark - amusement business - 4/12/2006

    I think this is a smart move... I mean, yeah it stinks for Sacramento, however I think Sacramento will find some sort of replacement.

    Here is why I think it is a smart move...

    Six Flags in Northern California, was packaging both the Sacramento and Concord water parks together... Along with Marine World being where the central offices are and is the theme park hub.

    Geographically that is a bit awkward... Sacramento is the odd man out...

    Concord and Vallejo are really not that far appart geographically... In theory they could run their own private cordicy shuttle system between the two parks without it being a horrable expense... And they could market the two parks together simular to other theme park/water park combinations... Sacramento made that difficult.

    It was clear that Six Flags is trying to consolidate it's business in an effort to reduce it's dept and improve the performance of their managment team - which was streched somewhat thin... Removing Sacramento would have little impact on Marine World, and in some ways distracts it's visablity in the marketplace.
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    Re: Six Flags Pulling Plug on Sacramento Waterpark - amusement business - 4/12/2006

    Quote Originally Posted by Alice's Wonderland
    Manteca Waterslides are better and not that far away.
    Umm... Manteca Waterslides closed at the end of the 2004 Season.

    I went to the Cal Expo site a few years back for a company event, and rode ZERO slides. It was awful. Horribly crowded, lines that were long and moved surprisingly slow. I don't know if they were overzealous on their safety regs after the incident in Concord 10 years ago, but it was not a fun experience. 20 minutes on a small slide and I moved 10 feet in line. The bigger slides were worse.

    Perhaps it can be leveled and give Cal Expo a permament performance venue.

    I don't think Six Flags will divest all of its water parks. There are several parks on the same property as their theme parks, usually right next to it.
    Last edited by Badgermann; 04-13-2006 at 06:13 PM.

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    Re: Six Flags Pulling Plug on Sacramento Waterpark - amusement business - 4/12/2006

    Should be interesting to see if Cedar Fair, L.P. picks up the park, it would fit in with the other Knott's Soak City parks, and they are focusing more on water parks....
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    Re: Six Flags Pulling Plug on Sacramento Waterpark - amusement business - 4/12/2006

    Quote Originally Posted by Alice's Wonderland
    Interesting to see what will happen with Waterworld. As a Sacramento native I always take the monorail around Cal Expo ( the outside of the monorail is prettier than Disneyland's. ) And Waterworld has gone down hill the last several years. Manteca Waterslides are better and not that far away.
    Are you saying the Cal Expo monorail is better looking then the DL ones??? They look like building blocks tied with string being pulled around.

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    Re: Six Flags Pulling Plug on Sacramento Waterpark - amusement business - 4/12/2006

    That's sad. I used to love going to waterworld for school trips and trip with Girl Scouts. Yeah, I always got sunburned pretty bad while waiting in lines, but still, it was good memories.
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    Re: Six Flags Pulling Plug on Sacramento Waterpark - amusement business - 4/12/2006

    The article forgot about one Six Flags waterpark: Wyandot Lake, right next to the Columbus Zoo. They never put the Six Flags name on it (just a tiny logo in advertising), but they recently pulled their ownership of that one, too.
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    Re: Six Flags Pulling Plug on Sacramento Waterpark - amusement business - 4/12/2006

    Quote Originally Posted by Fantasmico!
    What? That waterpark was one of the things that made Cal Expo so unique! It sounds like Six Flags is getting out of the water park business altogether.
    WOW..I can't believe it!! I'm a former Security Supervisor for Waterworld Concord. IF any park would close I would figure it would be there, because of funding and such. Sacremento had the Expo and that helped carry the park..WOW
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    Re: Six Flags Pulling Plug on Sacramento Waterpark - amusement business - 4/12/2006

    Awwww. I LOVE Waterworld Concord.

    Lets just hope that the Concord one doesn't close. =/









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    Re: Six Flags Pulling Plug on Sacramento Waterpark - amusement business - 4/12/2006

    Quote Originally Posted by Disneyland1970
    Are you saying the Cal Expo monorail is better looking then the DL ones??? They look like building blocks tied with string being pulled around.
    I second that! U-G-L-Y.
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    Re: Six Flags Pulling Plug on Sacramento Waterpark - amusement business - 4/12/2006

    Quote Originally Posted by Darkbeer
    Should be interesting to see if Cedar Fair, L.P. picks up the park, it would fit in with the other Knott's Soak City parks, and they are focusing more on water parks....
    I think that depends on whether or not Cedar Fair sees a value in establishing a Northern California presence, without the support of having a small supporting network of water/theme parks in the area... Not that those could not be built or purchased... One thing the Sacramento area is not short of is land or a population base to market to, and the area along the I-80 is growing like a weed...
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  14. #14

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    Re: Six Flags Pulling Plug on Sacramento Waterpark - amusement business - 4/12/2006

    Six Flags wants the waterparks to be connected to the theme parks. Like at Great America.

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