Kentucky Kingdom (SFKK, KK) Discussion Thread

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Re: Kentucky Kingdom (SFKK, KK) Discussion Thread

Postby gisco » Fri Feb 15, 2013 3:22 pm

Under the lease, Hart and his investment partners -- businessman Bruce Lunsford, lawyer Ed Glasscock and the Al J. Schneider Co. -- have agreed to invest $45 million in park improvements by 2017. That includes $20 million in partner equity and $25 million in loans. The group is to spend at least $1 million a year on park upgrades.


I predict the park is going to take more than 45 million over the next 4 years and Hart will then ask for a modification to the lease or back out. I have seen nothing on them actually having secured the loans either.

This whole thing seems like he is going about it backwards. Wouldn't he want to know the condition of the park first before agreeing to a lease?

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Re: Kentucky Kingdom (SFKK, KK) Discussion Thread

Postby John Peck » Fri Feb 15, 2013 3:36 pm

^ He had just looked at the park within the last year, so I figured he's looking for new decay and vandalism. He knows the industry well, I know he knows what he's getting into.

As for the park becoming a waterpark comments: Ed wants to market the park out to the largest geographical radius that he can, and with that in mind, he knows it's going to take large thrill rides combined with a strong waterpark and themepark to achieve people driving that far out to attend the park. So that's why I don't feel the waterpark will be the "main draw" if this thing happens the way he wants it to.

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Re: Kentucky Kingdom (SFKK, KK) Discussion Thread

Postby lilsam1993 » Fri Feb 15, 2013 4:20 pm

Jew wrote:
I'll believe it when they are actually under construction. His lease only requires $1 million in improvements every year, and the water park additions will easily cover that.


It may say that in the lease, but Ed said he isn't really planning on investing $1 million in improvements annually. He said in a radio interview HERE IN LOUISVILLE that he's planning on investment way more than that. He wants to make Kentucky Kingdom what it once was.

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Re: Kentucky Kingdom (SFKK, KK) Discussion Thread

Postby Jew » Sat Feb 16, 2013 2:05 am

Talk is great...securing financing and actually doing it will get me interested.
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Re: Kentucky Kingdom (SFKK, KK) Discussion Thread

Postby Chittlins » Sat Feb 16, 2013 6:46 am

John Peck wrote:^ He had just looked at the park within the last year, so I figured he's looking for new decay and vandalism. He knows the industry well, I know he knows what he's getting into.

As for the park becoming a waterpark comments: Ed wants to market the park out to the largest geographical radius that he can, and with that in mind, he knows it's going to take large thrill rides combined with a strong waterpark and themepark to achieve people driving that far out to attend the park. So that's why I don't feel the waterpark will be the "main draw" if this thing happens the way he wants it to.


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Re: Kentucky Kingdom (SFKK, KK) Discussion Thread

Postby David H » Mon Feb 18, 2013 10:38 pm

Why is everyone so surprised that he's goign to expand the water park? That's where the money is these days with regional parks. I mean, look at Holiday World's exansions over the past several years. Since Voyage, there have only been a few dry rides and huge expansion of the water park. Why do you think that is?

Go to almost any major theme park that ALSO has a water park included in the entry price these days, and you'll find that until the water park closes, it's actually busier than the regular park.

Not only that, but the slides are cheaper than many flat rides, and significantly cheaper than any big coaster.

Do people here actually expect him to build a big, expensive coaster right away? Yes, the park NEEDS one or two, but I don't see it happening until the park starts turning a profit. It's just too big of an investment right now.

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Re: Kentucky Kingdom (SFKK, KK) Discussion Thread

Postby Jew » Tue Feb 19, 2013 12:45 am

I'm not the least bit surprised he went for the water park first. It does make business sense. It's essentially an insurance policy---ride park fails, he still has that to fall back on if/when redevelopment talks begin with the fair board again for the "future use" they mentioned.
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Re: Kentucky Kingdom (SFKK, KK) Discussion Thread

Postby Meteornotes » Tue Feb 19, 2013 7:45 am

Water slides are a lot easier to move to another location when it comes time to build a casino.

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Re: Kentucky Kingdom (SFKK, KK) Discussion Thread

Postby Wes » Tue Feb 19, 2013 10:43 am

David H wrote:Do people here actually expect him to build a big, expensive coaster right away? Yes, the park NEEDS one or two, but I don't see it happening until the park starts turning a profit. It's just too big of an investment right now.


The park NEEDS a bulldozer to get it out of its misery.
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Re: Kentucky Kingdom (SFKK, KK) Discussion Thread

Postby gisco » Tue Feb 19, 2013 11:01 am

Meteornotes wrote:Water slides are a lot easier to move to another location when it comes time to build a casino.

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