Six Flags Announces Sale of Seven Parks for $312 Million
January 11, 2007

Six Flags Incorporated announced today that it will seven of its parks.  The company has been struggling with falling attendance and a huge debt load.  As of September 3, 2006, Six Flags had a long-term debt of $2.1 billion. The parks are being purchased by PARC 7F-Operations Corp., but PARC will sell them to Orlando, Florida based CNL Income Properties.  CNL will then lease the parks back to PARC. The parks that will be sold include: Six Flags Darien Lake in Buffalo, New York Six Flags Elitch Gardens in Denver, Colorado Wild Waves and Enchanted Village in Seattle, Washington Frontier City in Oklahoma City, Oklahoma White Water Bay water park in Oklahoma City, Oklahoma SplashTown in Houston, Texas Waterworld USA in Concord, California Six Flags recently reported that its 2006 attendance slipped 14 percent from the previous year.  Its third-quarter 2006 earnings fell 16 percent to $159.3 million. The sale of these parks comes less than two years after Six Flags sold six European parks and one park in Ohio. It is also about one year after the sale of Six Flags AstroWorld in Texas. If you have news that you feel needs to be added to the Gallery, please send a note to Joel@CoasterGallery.com.

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