FOX Business Flash top headlines for May 1
Theme Park Shutdown Announced: After Over Two Decades of Entertainment, Six Flags Ultimately Decides to Cease Operations on Final Ride Day
Here are the top stories from FoxBusiness.com:
Six Flags America, the oldest park in Six Flags' collection, makes its final spin.
In a surprising move, Six Flags Entertainment Corporation has decided to shut down Six Flags America and Hurricane Harbor in Bowie, Maryland, later this year. These parks, which have been a part of the Six Flags family since 1999, no longer fit the company's long-term growth plan.
"We have determined that Six Flags America and Hurricane Harbor are not a strategic fit with the company's long-term growth plan," stated Richard Zimmerman, Six Flags President and CEO. The parks will operate until November 2, 2025, and marketing the property for redevelopment is viewed as the best option to generate the highest value and ROI.
The park garners attention for Wild One, an iconic wooden roller coaster that dates all the way back to 1917. Originally debuted in Paragon Park in Hull, Massachusetts, Wild One has been a staple since its move to Bowie in the 1980s. While the exact fate of Wild One remains a mystery, the American Coaster Enthusiasts recognize its rich history and applaud Six Flags for maintaining its legacy.
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SIX FLAGS ENTERTAINMENT
The closure of Six Flags America leaves a gap in Maryland's entertainment scene. With its 98-foot height and 88-foot first drop, Wild One has enchanted countless thrill-seekers over the years. Industry insiders are skeptical about the potential relocation of this historic coaster.
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Prince George's County Council Chair Edward Burroughs sees opportunity in this closure: "There is so much land there that we can repurpose into something that's going to be special for both residents and the county." County officials are eager to work with Six Flags and the community to create a unique and advantageous project for the area.
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Six Flags Entertainment Corporation operates over forty parks across the United States, Mexico, and Canada, and the closure of Six Flags America does not seem to affect its overall business strategy.
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Stay tuned for more updates as this iconic park prepares for its final season. 🎢
| Ticker | Security | Last | Change | Change % ||--------|---------|-----|-------|---------|| FUN | SIX FLAGS ENTERTAINMENT | 35.83 | 0.91 | 2.61% || Powered By |
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Enrichment Data:
- The Six Flags America closure marks the end of the park's operation in Maryland after more than 20 years.
- The fate of Wild One and the other park rides is uncertain; industry experts suggest that the likelihood of relocation within the Six Flags chain or sale is minimal.
- The site is expected to be marketed for redevelopment to maximize value.
- Local government expresses interest in repurposing the land into a community-friendly development.
- The decision to close Six Flags America comes shortly after the NFL's Washington Commanders announced their intention to move to a new stadium in Washington, D.C.
- The closure of Six Flags America might lead to new investment opportunities, as county officials are eager to work with Six Flags and the community to repurpose the land into a unique and advantageous project.
- The closure of Six Flags America and its iconic roller coaster, Wild One, could potentially impact the local entertainment industry, as they have both been major attractions for Maryland residents and tourists for over two decades.
- As Six Flags Entertainment Corporation operates over forty parks across various regions, their decision to shut down Six Flags America suggests that they prioritize capital allocation towards more profitable portfolio investments in the entertainment industry, possibly including sports stadiums.
