Today was Six Flags Entertainment’s earnings call for the 3rd quarter of 2020. The company sent out a full press release detailing their results, available here. • Company leaders have a Transformation Plan underway to change some aspect of the company, utilizing technology to find cost savings and increase revenue. • When asked about capital expenditures for 2021 leaders stated they’re still doing analysis and due to ever changing market conditions related to the pandemic, it’s too early to forecast what they’ll spend. So, it is necessary that you choose the best available option in the market. I heard some riders call it one of the best minutes on a roller coaster. “We have developed a comprehensive reopening safety plan that includes best practices from theme park and waterpark industry experts, along with top destination parks from around the world, which will allow guests to experience our parks in the safest possible way. But first, they’ve also announced their first theme park to reopen, which will be Frontier City on June 5th. The park will have very limited attendance and will open on June 5th through June 7th only for Members and Season Pass Holders only. Reservations for the event are required as the capacity for each day is limited.
No rides or indoor attractions are able to open, so the park has put together a new event called Zoo Days: Bayside BBQ & Brews. However, this means that they’ve found 15 rides that are currently being removed from the parks. So no real update on if the 2020 rides will open in 2021, or if their will be additional ones too. Today we got another business update from one of the industry players, this time from SeaWorld Entertainment. SeaWorld Orlando and Aquatica Orlando have also both shared good news, the parks are now going to be open 7 days a week through October 4th. Plus, SeaWorld Orlando will now stay open until 10 pm on Friday through Sunday through Labor Day weekend. • Attendance in October has been hitting 50% and higher of prior year attendance, in some places even beating prior year attendance. • As for increasing revenues from the Transformation Plan. Visitors to the park who are familiar with Fright Fest will still find many familiar activities and scares, though Six Flags’ comprehensive COVID-19 safety plan remains strictly in place.
• The Plan will modernize park operations. • Nine of the company’s parks remained closed during the 3rd quarter, out of 26 total. • In order to breakeven and have 0 EBITDA instead of a loss, they estimate they need 45% to 55% of 2019′s attendance. In order to have a breakeven of cash flow, they think they would need 65% to 75% of 2019 attendance. So where creativeness matters and you have to compete with other brands as well, this feature survives at even low cost. Our American applique house flags look better, last longer, cost less and are shipped faster. If you can’t come across something with all three, look individually. While their parks are closed the company, like the others we’ve seen so far, is working to keep enough cash on hand to operate until the parks and reopen. “Frontier City, like all Six Flags parks, is an outdoor attraction that poses a significantly lower risk of exposure than indoor venues. The park will also follow all health and safety guidelines already in place at other SeaWorld Entertainment parks, including mandatory face masks, increased sanitization and social distancing throughout the park.
SeaWorld Entertainment has decided to offer private notes (private loans – Six Flags and Cedar Fair also did this in the past week) to the tune of just under $230 million, and also received relief on their loan covenants for the rest of the year. SeaWorld Orlando is also extending their craft beer festival to Fridays (in addition to the weekend) with operating hours of 3 pm until 10 pm. The special event requires a special ticket to enter, and is a mixture of the park’s outdoor zoo facilities (a partial selection) along with a food and beer event spread over 40 of the parks acres. Many flags have flown over Florida since European explorers first landed here in the early sixteenth century. The first step to doing search engine optimization SEO is to record your aims. Attendance will be heavily restricted on the first days that the park opens, and then gradually be increased as the month progresses. Six Flags Hurricane Harbor New Jersey has announced that it will reopen to visitors this Thursday, July 23rd. The park will “operate with reduced attendance levels and in preview mode; then gradually increase attendance levels throughout the month.” The water park is located next door to Six Flags Great Adventure.
