Six Flags Corporate Discussion Thread

P. 156: Mike Spanos to become President & CEO of Six Flags
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Six Flags Corporate Discussion Thread

Postby davidmorton » Sat Jun 13, 2009 3:17 am

Hey everybody!

This thread is simple! Rather than having a million little threads about everything that goes on at Six Flags' many properties, this thread is designed to consolidate it all into one user-friendly thread. Feel free to use it to post updates, trip reports, questions, comments, and of course, general discussion. For pictures and videos of the company's many properties as well as past updates, see TPR's Park Index.

Official Company Website

Below are some links to past updates from the company, you may be interested in. Enjoy!



June 15th, 2009 - Six Flags outlines Chapter 11 bankruptcy plans
June 16th, 2009 - Company to take $600 million loan, bankruptcy won't affect Six Flags Dubailand
June 18th, 2009 - Six Flags wants public image during bankruptcy
November 30th, 2009 - Two bondholder factions vying for control of Six Flags
December 8th, 2009 - Judge allows Six Flags to craft their own bankruptcy plan in 'good faith'
December 15th, 2009 - Six Flags given approval to finance exit from bankruptcy with loans a stock sale

January 8th, 2010 -Six Flags could emerge from bankruptcy as early as March
January 13th, 2010 - Overdue payments could allow Six Flags to regain control of Parc Management parks
February 17th, 2010 - Resilient Capital Management wants a Chapter 11 trustee appointed to Six Flags
February 22nd, 2010 - Several bankruptcy exit plans to be presented to the court
February 25th, 2010 - Note holders move to acquire Six Flags ownership
March 1st, 2010 - Note holders plan to let go current management if company control is gained
March 5th, 2010 - Company-wide attendance down 11% from the previous operating year
March 8th, 2010 - Six Flags begins defense of bankruptcy exit plan amidst note holder coup attempt
March 10th, 2010 - Note holders consider merging Six Flags with Cedar Fair
March 19th, 2010 - Six Flags and competing note holders delay trial to reach internal settlement
March 19th, 2010 - Six Flags management to be retained as a settlement with the note holders is reached
March 22nd, 2010 - Six Flags "super fan conference call" transcript
March 25th, 2010 - Mark Shapiro launches "Parent Pass" at all properties
April 5th, 2010 - New bankruptcy plan submitted to appease the bondholders
April 15th, 2010 - Resilient Capital Management still putting up a fight
April 28th, 2010 - Bondholders agree to revised bankruptcy exit plan
April 28th, 2010 - Six Flags could exit bankruptcy next week
April 29th, 2010 - Six Flags resolves remaining complaints over bankruptcy plan
April 30th, 2010 - Daniel Snyder & his team leave the board of directors
May 3rd, 2010 - Six Flags emerges from bankruptcy
May 12th, 2010 - Mark Shapiro ousted, replaced by Alexander Weber, former CEO of Paramount Parks
May 17th, 2010 - Six Flags releases First Quarter Results
June 17th, 2010 - Shares to resume trading in the New York Stock Exchange
June 22nd, 2010 - Six Flags lays off three more executives
August 14th, 2010 - James Reid-Anderson named Chairman, President and CEO of Six Flags
September 7th, 2010 - New CFO and General Counsel appointed
September 21st, 2010 - Six Flags shares reach 52-week high
September 25th, 2010 - Six Flags receives $41 million cash distribution
September 27th, 2010 - Six Flags continues management reorganization at park level
April 25th, 2010 - Jeffrey Speed, former CFO receives $23.65 million for early layoff
May 5th, 2010 - Board approves 2-for-1 split of stock

December 15th, 2011 - Six Flags expands partnership with Mars Chocolate

January 4th, 2012 - Share repurchasing plan expanded by $250 million
January 10th, 2012 - Six Flags extends ticketing agreement with accesso
February 9th, 2012 - Cash dividend increases to $0.60 per share
March 14th, 2012 - Six Flags partners with 7-Eleven to bring Slurpees to the parks
March 14th, 2012 - Red Gold becomes the "Official Ketchup of Six Flags"
July 21st, 2012 - Six Flags renews deal with Coca-Cola for 10 more years!
July 24th, 2012 - Six Flags sees large increases in its 2nd Quarter
October 24th, 2012 - Higher attendance & prices boost Six Flags profits
November 29th, 2012 - Discover renews partnership agreement with Six Flags

October 25th, 2013 - 3rd Quarter sees growth in admission, food & sales

October 21st, 2014 - 3rd Quarter 2014 results

February 21st, 2015 - 4th Quarter 2014 results

August 31st, 2017 - Company-wide 2018 additions announced!

February 22nd, 2018 - Waterworld Concord becomes Hurricane Harbor Concord
May 22, 2018 - Six Flags to run Darien Lake, Frontier City and three water parks

August 29th, 2019 - All of the Six Flags 2020 Announcements!
October 22nd, 2019 - Six Flags headquarters may move to Arlington
October 30th, 2019 - Mike Spanos to become President & CEO of Six Flags
Original Post:

Some quick links; ... .html?.v=1

A FAQ on the SF site; ... tions.aspx

And an open letter to all employees; ... urCEO.aspx

Last edited by jedimaster1227 on Wed Oct 30, 2019 5:59 am.

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Postby Airtime&Gravity » Sat Jun 13, 2009 6:06 am

Time to hear the rumors again on X-park being paved over.

It's good news and bad news, but I'm glad they did it. Since I was a stock holder, I lost my investment, but at least the company will emerge without the massive debt load. It is also good that they do not plan to close any of the parks, not raise prices, and continue what they have been doing the past few years. It is also really good that 2011 will still see all the major additions added.

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Postby King_K. » Sat Jun 13, 2009 6:12 am

Six Flags Company CEO says the declaration of bankruptcy won't effect the day-to-day operation of the parks. Lets see if it's true. :|

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Postby GivenOneChance » Sat Jun 13, 2009 6:30 am

Not playing Devil's Advocate here, but what's the absolute worse thing that could happen to some of Six Flags' premiere parks like GA or MM?

Sell the park to another theme park operator? That theme park operator make radical changes to the parks? I wouldn't like the latter. I am someone afraid for my home park though. I didn't like when they were on the brink of selling it to some real estate developers, etc in 2006. Overall, this article makes me feel uneasy and apprehensive at the end of the day though.

Eh, but I sure hope Six Flags emerges strong. I like them to continue to manage most of the parks under their belt. I like the direction they've taken for parks like MM, but they need to change along with unloading this debt.

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Postby MG » Sat Jun 13, 2009 7:07 am

It is quite sad that they have had to finally declare it but it was kind of inevitable. I think it has been thought it would happen for a while. I am sure that Six Flags will continue to run far into the future. I don't think they are anywhere near dead. Much potential still to come.

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Postby King_K. » Sat Jun 13, 2009 7:47 am

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Postby Mr. Starr » Sat Jun 13, 2009 8:28 am

Didn't really know where to post this, but has anyone ever read this "letter" written by a Six Flags virgin who only compares it to Disney World?

I found it rather entertaining.

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Postby rawrtotheargh » Sat Jun 13, 2009 8:52 am

"Your park is too far away from our home."

Some people are just so ... interesting.

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Postby Electerik » Sat Jun 13, 2009 8:59 am

King_K. wrote:Six Flags Company CEO says the declaration of bankruptcy won't effect the day-to-day operation of the parks.

Well, that's a shame.

Sorry, I couldn't resist. In all seriousness, though, I think pretty much everyone saw this coming. Hopefully, one way or another, some good will come of it.

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Postby mcjaco » Sat Jun 13, 2009 9:00 am

GivenOneChance wrote:Not playing Devil's Advocate here, but what's the absolute worse thing that could happen to some of Six Flags' premiere parks like GA or MM?

Why would they sell two of their profitable parks?

Filing for Chapter 11 allows a corporation to restructure their debts in order to make them more managable. Shapiro is taking the right steps. He's inherited a total mess from the previous management, and this had to be done. Chapter 11 is nothing new, corporations have done it before and come out stronger. It has to do with strong leadership, which I believe SF has, as witnessed by the positive changes over the past few years.


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