In early 2020, the Six Flags theme park chain discovered itself dealing with extinction for the second time in about decade, this time as a result
In early 2020, the Six Flags theme park chain discovered itself dealing with extinction for the second time in about decade, this time as a result of coronavirus pandemic.
However traders say a latest inflow of wanted money and a renewed deal with its core enterprise have given it a stable probability of survival, and maybe some good years forward.
Usually overshadowed by the huge and well-known vacation spot parks run by Disney and Common, Six Flags is the largest participant within the enterprise of regional theme parks, with 26 areas throughout North America.
Since its beginnings in Texas in 1961, Six Flags loved a profitable, although generally tumultuous rise, solely to seek out itself bankrupt within the midst of the monetary disaster. The corporate reemerged and has loved a number of years of robust gross sales.
However by the point the coronavirus pandemic struck Six Flags was already battling stymied plans to increase internationally.
After a $725 million debt providing in April to assist climate the disaster, the corporate is specializing in step by step reopening its parks.
It’s using a lot of well being and security measures. Park visitors should make reservations forward of time to maintain attendance ranges manageable. Most jurisdictions which are permitting companies to reopen are limiting buyer capability to about 25% of a enterprise’s typical most capability, mentioned then-interim Chief Monetary Officer Lenny Russ on a Oppenheimer funding convention name on June 16.
All visitors and staff are required to put on face masks. They can even endure temperature screening earlier than they enter the park with a brand new quick thermal scanning know-how. There are devoted hand washing and sanitizing stations and cleansing groups. Markers inidcate how riders ought to line as much as present house between visitors and the park will depart empty seats on rides to maintain events aside.
Some parks had been already open as of mid-June, Russ mentioned. These embrace Oklahoma’s Frontier Metropolis, a water park outdoors Phoenix and Six Flags over Georgia, amongst others. Six Flags’ Nice Journey transformed its safari in Jackson, New Jersey, again to a drive-thru attraction, and opened it on Could 30.
Extra parks will likely be opened as native governments loosen restrictions. These choices might enable the corporate to drag in some a lot wanted income throughout what is generally its busiest season. With spikes in instances in elements of the nation, there’s nonetheless loads of uncertainty.
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