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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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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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Aggieland Safari Adventure Zoo and Safari Park in Bryan, Texas, is the subject of a potential purchase by Parks! America, which currently owns and operates two regional theme parks, the Wild Animal Safari parks in Georgia and Missouri.
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COMPANY PROFILES
WhiteWater

WhiteWater was born in 1980 to create places where families unite and make joyful lasting memories [more...]
Polin Waterparks

Polin was founded in Istanbul in 1976. Polin has since grown into a leading company in the waterpa [more...]
IDEATTACK

IDEATTACK is a full-service planning and design company with headquarters in Los Angeles. [more...]
Alterface

Alterface’s Creative Division team is seasoned in concept and ride development, as well as storyte [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

Simworx - The power to move you…
Simworx is acknowledged as one of the world’s leaders in the supply of 4D Effects Cinemas and Motion Simulation Attractions. Find out more...
More videos:
Red Raion: Meet the Team - Introduction – Red Raion
Miko and the Spell of the Stone - Movie Trailer – Red Raion
Trailer Pinocchio - A Modern Tale VR – 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  
 


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

©Cybertrek 2020

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