News Six Flags America Sold to Investment Group feat. Kevin Durant

[warfelg]

I hadn't seen a sale price on the land. How big of a loss are we talking?

I have no clue what the price is.

Just more asking for general info for when that comes out. It seems the implication here with timing, the economics, and the long term value of the land on the fight for zoning is that they will be taking a loss on the property. Likely there would be a fairly substantial loss if this is intentional. Big enough possibly to have a positive impact for them.

 

[Frontseatbill]

I have no clue what the price is.

Just more asking for general info for when that comes out. It seems the implication here with timing, the economics, and the long term value of the land on the fight for zoning is that they will be taking a loss on the property. Likely there would be a fairly substantial loss if this is intentional. Big enough possibly to have a positive impact for them.

Here's some info about the land from State of Maryland Department of Assessments and Taxation.

This is the new land records site.

Experience

experience.arcgis.com

The 2nd link is property search page from the state.

Full Width Simple

An official website of the State of Maryland.

sdat.dat.maryland.gov

Six Flags owned 8 parcels of land. Also the new sell price will be listed when it is filed with the state. To find this information click on the link search by county, property address, street name. Type Central* in street name box. It should be the 4th page in

 

[rswashdc]

How much of a benefit is there by moving on from this property at a loss, and a major loss at that?

The land is probably long ago paid for so SF is making money on the deal. I can't imagine the park made much money at the prices they charged, and likely lost money once indirects are applied, considering DC area wages.

Selling that land to another park operator is a non starter since it could easily undercut 3 other SF parks if the product was seriously invested in.

Most likely the best financial move for SF was to cut their operating losses and get what they could for the land from a non park deal.

 

[Nitro230]

The land is probably long ago paid for so SF is making money on the deal. I can't imagine the park made much money at the prices they charged, and likely lost money once indirects are applied, considering DC area wages.

Yeah this isn't a Six Flags AstroWorld situation, AstroWorld was actually incredibly profitable but Six Flags thought they could make a quick buck off the land when the Texans moved in next door. It was an incredibly short-sighted move that looking back was definitely a poor decision. With Six Flags America though the park probably broke even but I can't imagine it was making much money until the last season when everyone went to make their final visits. Plus the land is valuable in that area, even if the demand wasn't what they expected I would imagine Six Flags still made a pretty penny off of it.