Amusement Park Corporation to Broaden Reach in Houston, Phoenix, Buffalo and Oklahoma City, Will Become Largest Waterpark Operator in The United States And Canada
Pictured: Frontier City in Oklahoma City.Six Flags Home entertainment Corp. will pay Oklahoma City-based Premier Parks LLC$23 million to buy the special lease rights to 5 amusement parks. The offer consists of Frontier City and White Water Bay in Oklahoma City; Wet n’Wild Splashtown Waterpark in Houston; Wet n ‘Wild Waterpark in Phoenix; and Darien Lake, a 1,000-acre home near Buffalo, NY, that consists of a theme park, water park, hotel, camping area and big amphitheater. Upon closing, Six Flags would run 25 parks in North America. Already the largest regional amusement park operator on the planet, the deal also cements 6 Flags as the largest waterpark operator in North America. The deal is slated to close in June.
In 2015, the five parks welcomed a combined two million
visitors. The offer adds 20 million prospective visitors within a 100-mile radius of 6 Flag parks, significantly expanding the brand name’s nationwide footprint. The five parks are owned by EPR Properties, which got them in addition to seven other theme parks last year, employing Premier Parks LLC to run them. Last month, Reid-Anderson revealed the business planned to purchase more parks in close distance
to residential or commercial properties it currently owned, intending to give visitors excellent need to come back to parks, updating one-time visitors to season pass holders.”Today’s announcement represents another milestone in our strategic North American growth initiative to look for park acquisitions
that broaden our addressable market,” Six Flags Chairman, President and President Jim Reid-Anderson stated in a declaration. 6 Flags and Premier Parks LLC share numerous common threads. Premier Parks LLC chairman and Chief Executive Kieran Burke formerly was the CEO of
6 Flags, and several other former Six Flags executives work for Premier Parks LLC. Burke led Six Flags throughout its 1998 acquisition by Premier Parks Inc. for $1.9 billion. Burke took the business public through a stock offering and moved its corporate headquarters to Oklahoma City before being gotten rid of as CEO in 2005. 6 Flags sold Frontier City and White Water Bay not long after, moving its headquarters when again, this time to New york city City. In 2009, 6 Flags stated bankruptcy, altering its controlling ownership and moving its home office to Grand Meadow TX. That same year, Burke formed Premier Parks LLC in Oklahoma City.