Project 2022: Pantheon

[BGWnut]

While people following the shareholder meetings knew they were sitting on $400m cash in-hand

Yeah exactly. Since SEAS isn't owned by a large media company that definitely could withstand a prolonged shutdown, people took these liens as an indication that SEAS wouldn't be able to weather the storm and couldn't afford to pay their bills. In reality this was happening at those parks too.

And it wasn't just theme parks that opted to stop paying bills. There's a lawsuit going on between Simon Property Group and GAP because when everything shut down GAP said they weren't paying rent anymore

 

[BGWnut]

The San Diego park has a multi million dollar lawsuit against it, so I wouldn't be quick to dismiss it. The other claims may very well have been settled between the parties, but it's unlikely the claimants were happy about the situation.

Compare that to Hershey, Universal, and Cedar Fair who kept paying their contractors and it's pretty apparent who is better to do business with.

Do you have any proof that they continued to pay their contractors? Or you just saying that because it was never reported that they had liens filed against them? As far as I know both Disney and Universal had liens filed against them and I wouldn't be surprised if Hershey and CF did too. Or they might have begged their contractors not to.

 

[rswashdc]

Do you have any proof that they continued to pay their contractors? Or you just saying that because it was never reported that they had liens filed against them? As far as I know both Disney and Universal had liens filed against them and I wouldn't be surprised if Hershey and CF did too. Or they might have begged their contractors not to.

Hershey and CF opened big rides on opening day of their parks (Hershey a big new area as well), and KD has a new ride on site, making me believe they continued paying vendors throughout.

Disney and Universal are huge and have so many contractors I’d assume the liens are due to arguments over work completion and not stiffing their vendors on payment. I’d note Universal has a big new Intamin ride being installed that I’m sure they’ve been paying progress payments on throughout.

It‘s really SEAS that stands out in this respect, though Six Flags‘ pauses in construction may also be occurring, but I haven’t heard of liens against SF so those may have been mutually agreed pauses.

 

[warfelg]

So everything you are stating and saying about companies is based on assumption over knowledge?

 

[Le Moose]

They put the Pantheon Pins and multiple others on the seaworld shop website. https://seaworldparksshop.com/collections/busch-gardens?page=1

 

[BGWnut]

Hershey and CF opened big rides on opening day of their parks (Hershey a big new area as well), and KD has a new ride on site, making me believe they continued paying vendors throughout.

Disney and Universal are huge and have so many contractors I’d assume the liens are due to arguments over work completion and not stiffing their vendors on payment. I’d note Universal has a big new Intamin ride being installed that I’m sure they’ve been paying progress payments on throughout.

It‘s really SEAS that stands out in this respect, though Six Flags‘ pauses in construction may also be occurring, but I haven’t heard of liens against SF so those may have been mutually agreed pauses.

For all we know those parks could have already finished their payments on those rides before things shut down.

We just don't know so we can't say one way or another if other companies are in a similar situation. Either way I still don't foresee it being an issue moving forward.

 

[warfelg]

with the pantheon debacle

Out of curiosity, what's the debacle?

 

[matthewcsoup]

Out of curiosity, what's the debacle?

swo’s relation with the construction crew

 

[Le Moose]

swo’s relation with the construction crew

I wouldn’t call it a debacle.

 

[warfelg]

swo’s relation with the construction crew

I think calling what happened a debacle is really mischaracterizing. Especially was the other parks open fully have had liens lifted. Like I said numerous times, the liens are common in construction delays and UO and WDW had their fair share of them too through the COVID shutdown.

 

[Le Moose]

I think calling what happened a debacle is really mischaracterizing. Especially was the other parks open fully have had liens lifted. Like I said numerous times, the liens are common in construction delays and UO and WDW had their fair share of them too through the COVID shutdown.

Exactly, I believe Liens are just to ensure the construction company gets their money.

 

[warfelg]

Exactly, I believe Liens are just to ensure the construction company gets their money.

Basically. When there's a construction company liens are used to recoup expenses. One that always stuck in my mind was a company that was building a new office/warehouse that I was the planner overseeing it. The company put a pause to construction (this was during the economic repression), so the company that was to do the interior and did the design and layout and spend that money was promised they would be the company to do it. 12 months later construction kicked back up, the company that wanted the new office/warehouse ended up using another company to do the interior because they came up with a cheaper offer. The company originally tabbed never filed a lien, could never get the funds they spent beyond what they were paid. Liens protect construction companies from things like that.

 

[panopticon31]

So now that the park has been open for a month again, what are the odds we will will see crews return to work on Pantheon, as we saw with Iron Gwazi once Tampa reopened.

 

[Jonesta6]

When there's a clear sign that BGW will actually be open at a higher capacity limit is my guess

 

[horsesboy]

So now that the park has been open for a month again, what are the odds we will will see crews return to work on Pantheon, as we saw with Iron Gwazi once Tampa reopened.

I guessing that it likely will still be a while given that unlike Tampa we have not fully reopened. I think that the combination of not wanting to shell out the cash while the incoming revenue is limited and that we are not a year round park and are not looking at an opening till next Spring combine to leave us halted for a while.

 

[Le Moose]

I guessing that it likely will still be a while given that unlike Tampa we have not fully reopened. I think that the combination of not wanting to shell out the cash while the incoming revenue is limited and that we are not a year round park and are not looking at an opening till next Spring combine to leave us halted for a while.

I just really want our Governor to understand the importance of BGW being open. They’ve done a FANTASTIC job all around and I believe they are being treated very unfairly. It’s not fair to Busch, it’s not fair to their pass holders, it’s not fair to JCC.

 

[Nicole]

It is possible that BGW feels safe, because of the limitations on the number of people in the park.

 

[matthewcsoup]

pantheon 2020 souvenir cup got it today next to alpengeist for 15

 

[Memles]

I wonder what made them decide to break out the Souvenir cups—maybe knowing they're going to be running future special events and thus the discount is an actual incentive?

 

[Jonesta6]

Blowing through stock?