Six Flags sells Elitch Gardens and Darien Lake, plus others, for $312 mil
Published: January 11, 2007 at 11:07 AM
PARC 7F-Operations Corp. of Jacksonville, Florida, will buy Elitch Gardens in Denver, Darien Lake in Buffalo, N.Y., Wild Waves and Enchanted Village in Seattle, Frontier City and White Water Bay in Oklahoma City, SplashTown in Houston and Waterworld USA in Concord, California for a total of $312 million. The chairman of PARC is Michael Jenkins, a former vice president of Six Flags Over Texas.
Money from the sale will go to help reduce Six Flags' $2.2 billion in corporate debt, accumulated when the former Premier Parks bought the chain and name from Time Warner, then went on an expansion spree just before the economy tanked in 2001.
The sale does not include Six Flags Magic Mountain, which will remain open for the 2007. A Six Flags spokesperson said that the company is not actively looking to sell more parks, meaning that Magic Mountain will remain a Six Flags park for the near future... unless somebody with big bucks makes the company a huge offer.