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Six Flags admits China theme park projects could be shelved
POSTED 13 Jan 2020 . BY Andy Knaggs
The Six Flags park in Zhejiang Province was due to open later this year
The stop-start affair that is Six Flags' expansion into Chinese territory may never come to fruition it seems after the US theme park operator revealed continuing problems with its partner in China.

The company said in a regulatory filing that real estate developer Riverside Investment Group had defaulted on payments "due to a declining market" and that the development of Six Flags-branded parks in China had "encountered continued challenges and has not progressed as expected".

"While the company continues to work with Riverside the eventual outcome is unknown and could range from the continuation of one or more projects to the termination of all the Six Flags-branded projects in China," said the statement.

Six Flags' first Chinese park – at Zhejiang Province – was scheduled to open in 2020, although this would seem far from certain now. Additional projects in Nanjing and Chongqing have also been subject to delays.

In October 2019, Six Flags CEO Jim Reid-Anderson spoke of the frustrations the company was facing in getting its China projects off the ground, saying "part of it is our partner, part of it is the economy, part of it is the local government saying this is when we can have everything ready for you in order to be able to open a park".

The company also had to shelve plans for a Dubai theme park last year, after funding problems with its partner DXB Entertainments.
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Jobs   News   Products   Magazine
NEWS
Six Flags admits China theme park projects could be shelved
POSTED 13 Jan 2020 . BY Andy Knaggs
The Six Flags park in Zhejiang Province was due to open later this year
The stop-start affair that is Six Flags' expansion into Chinese territory may never come to fruition it seems after the US theme park operator revealed continuing problems with its partner in China.

The company said in a regulatory filing that real estate developer Riverside Investment Group had defaulted on payments "due to a declining market" and that the development of Six Flags-branded parks in China had "encountered continued challenges and has not progressed as expected".

"While the company continues to work with Riverside the eventual outcome is unknown and could range from the continuation of one or more projects to the termination of all the Six Flags-branded projects in China," said the statement.

Six Flags' first Chinese park – at Zhejiang Province – was scheduled to open in 2020, although this would seem far from certain now. Additional projects in Nanjing and Chongqing have also been subject to delays.

In October 2019, Six Flags CEO Jim Reid-Anderson spoke of the frustrations the company was facing in getting its China projects off the ground, saying "part of it is our partner, part of it is the economy, part of it is the local government saying this is when we can have everything ready for you in order to be able to open a park".

The company also had to shelve plans for a Dubai theme park last year, after funding problems with its partner DXB Entertainments.
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Sea urchins inspire pod designs for new Buhais Geology Park
The Buhais Geology Park Interpretive Centre, with a Hopkins Architects design inspired by fossilised sea urchins, has opened in the United Arab Emirates.
Parks! America makes play to add Texas safari park Aggieland to its roster
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COMPANY PROFILES
IAAPA EMEA

We are pleased to announce that Euro Attractions Show is now IAAPA Expo Europe. [more...]
iPlayCo

iPlayCo was established in 1999. iPlayCo Corporation Ltd is the owner and key stakeholder. [more...]
Red Raion

Founded in 2014, Red Raion is the CGI studio specialized in media based attractions. [more...]
Holovis

Holovis is a privately owned company established in 2004 by CEO Stuart Hetherington. [more...]
+ More profiles  
FEATURED SUPPLIER

Triotech reimagines Knott's Bear-y Tales as new 4D dark ride
Triotech, a supplier and designer of interactive and immersive attractions, has announced a new partnership with Knott's Berry Farm [more...]
VIDEO GALLERY

instantprint - Online Print Made Easy!
We're the only online printing company who really gets your business. Find out more...
More videos:
Experience the experience – Polin Waterparks & Pool Systems
Trailer Aladdin - The Bachelor Party VR – Red Raion
Red Raion: Meet the Team - Introduction – Red Raion
+ More videos  

CATALOGUE GALLERY
 

+ More catalogues  
DIRECTORY
+ More directory  
DIARY

 

23-25 Mar 2020

MuseumNext Europe

Edinburgh Festival Hub, Edinburgh,
23-25 Mar 2020

Dubai Entertainment Amusement and Leisure Exhibition (DEAL)

Dubai World Trade Centre, Dubai, United Arab Emirates
+ More diary  
 


ADVERTISE . CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2020

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