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Year Later, Magic Mountain's Financial Situation Looking Up - Signal, 6/21/07


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  • Year Later, Magic Mountain's Financial Situation Looking Up - Signal, 6/21/07

    One year ago, Six Flags Inc. was facing serious problems.

    With the corporation in debt and park sales on the schedule, there were fears that Six Flags Magic Mountain and Hurricane Harbor - the biggest employer in the Santa Clarita Valley and a huge source of tax revenue - would be sold off, potentially for home development.

    One year later, Magic Mountain's future has been assured after the sale of seven other parks, and Six Flags has been posting steady numbers for 2007.

    In May, Six Flags' first quarter report posted a 6 percent improvement on attendance, with 10 percent fewer park operating days than first quarter 2006. Net losses also went down from $241 million to $170 million.

    "The first quarter historically represents only a small percentage of our revenues," Mark Shapiro, Six Flags President and CEO, said in a statement in May.

    Magic Mountain spokeswoman Sue Carpenter said that customers have been noticing a difference in the park.

    "The feedback we've been getting from guests has been very positive," she said.

    Larry Mankin, president and CEO of the Santa Clarita Valley Chamber of Commerce, said that hotel occupancy rates have been up of late, with many over 90 percent.

    "The No. 1 reason that the hotels are doing so well is the facility at Magic Mountain," he said.
    Much more at the link
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  • #2
    Re: Year Later, Magic Mountain's Financial Situation Looking Up - Signal, 6/21/07

    Oh that's good to hear.
    The Right Honorable Count Boogie Bonz of Random, at your service.

    On Track for Weight Loss!


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