USA/China: Agreements Signed to Build Two More Six Flags Parks in China
US operator Six Flags Entertainment Corporation and the tourism and real estate development company Riverside Investment Group recently signed definitive agreements to build two more Six Flags-branded parks – a theme park and a water park – in China. Both projects will be realized in Bishan, a district of Chongqing, where the parks are expected to open their doors in 2020. “The development of two additional Six Flags-branded parks […] in Bishan speaks to our commitment to create memorable experiences for families world-wide,” said John Odum, President of Six Flags International Development Company. The first Six Flags parks in China (also a theme park and a water park) are anticipated to open in 2019 in Haiyan, Zhejiang province, located around two hours by car south of Shanghai (cf. EAP news from January 21st, 2016).
Six Flags Entertainment Corporation currently operates 18 parks in the US, Canada and Mexico and is one of the world’s largest regional theme park companies. In 2016, the group could register a new record financial performance with a revenue of 1.3 billion US Dollar (approx. 1.2 billion Euros), which means an increase of four percent compared to 2015. Furthermore, a total of 30.1 million visitors came to the parks – 1.6 million guests more than a year ago. According to the company, the growth in attendance is related to the continued success of selling season passes and memberships, whose holders accounted for 60 percent of total visitation. Adjusted EBITDA for the full year grew to a new high of 507 million US Dollars (around 480 million Euros), five percent over the prior year. (eap)
