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Six Flags and the Coronavirus


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Many thanks to you and all the healthcare and medical teams getting us through all this.  You guys are the real super heroes.

Dude shut up. Just shut the hell up. You have no idea what is going on, you just make crap up as you go and post comment after comment to hear your self talk. 75% of what you post doesnt even make sen

Hate to go all personal, but considering that several people I know got infected (one of whom recently succumbed to it), the last thing on my mind at this time are theme parks in general, let alone Gr

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That is if SHTF doesn't happen. 

 

Concerned what the parks may do when they open and other effects after the virus. 

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Besides a late opening, there likely won't be a return to normal. Instead there will be a new normal and I don't know what that will be. 

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Even if Trump personally cures COVID-19 with his magic ET healing touch, there are still going to be long term complications from the virus impact. We should expect budget cuts from the parks due to lost income from delayed openings such as cuts in shows and operating hours. They will also likely implement new safety and sanitation procedures. Not sure how crowds may be affrected. Residual virus fears may suppress crowds for awhile which may lead to further cuts. 

Edited by The Master
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23 hours ago, Six Flags FUN! said:

Hopefully President Trump ways to cure all people quicker soon. Maybe doctors will faster way to stop virus by sooner. But doctors could make bunch of drugs to get rid all virus quicker by 2-6 weeks.

 Is this even English? Wth?!

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Gov Wolf just extended school closures in PA to May 15. This is going to be a lousy Spring this year. Because the nearby NYC region is one of the hardest hit areas, GAdv may open even later than parks in other regions. 

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Valley Forge National Historic Park closed down today. More and more places are shuting down, even the Olympics are being postponed to next year. The CoCo Kay indoor water park in Mt Laurel has closed down for good. It really is a bad situation. 

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image.png.83f277f839539e063efef58bf42bd407.png

The stock price has lost 67% of it's value in the last 3 months and was moving lower prior to the coronavirus panic due to soft results for Q4. I don't think a bankruptcy is coming, but most likely there's going to be a cutback in expenses around the parks and in Capital Expenditures, meaning that additions for 2021 will be very small, if any. It seems like the Cedar Fair deal falling through was a blessing in disguise.

 

We can only hope that the government provides enough cash to keep chains afloat and that once the shelter in place orders are lifted, that people come out in record numbers. I know that's what we're hoping will happen in the movie theater industry right now.

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https://seekingalpha.com/news/3556190-cedar-fair-and-six-flags-risk-of-dividend-cuts

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Cedar Fair and Six Flags at risk of dividend cuts

Mar. 30, 2020 7:24 AM ET|About: Cedar Fair, L.P. (FUN)|By: Clark Schultz, SA News Editor 

Wedbush analyst James Hardiman weighs the impact on Cedar Fair (NYSE:FUN) and Six Flags Entertainment (NYSE:SIX) of shutdowns extending into the summer or beyond.

 

"We believe that if the current shut-downs last much longer, the distributions/dividends will be the first to get significantly scaled back. Given where these stocks are trading, this should not come as much of a surprise to investors," he warns.

 

Hardiman also notes that debt covenant breaches will become a major concern. "While all three companies should be fine through 1Q, we believe FUN and subsequently SIX will likely risk covenant breaches if shutdown last too far into June," he notes.

 

Hardiman says FUN and SIX look to be eligible for stimulus loans, but would have to stop dividends/distributions for a year if they signed up.

 

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5 hours ago, Six Flags FUN! said:

Looks like China is getting new virus cases as a second wave. Will USA will do same as China for rest of the year, 2021 and forever? I'm scared about this one. Is USA is not getting a second wave of virus like China for rest of the year? I don't want USA to get another wave soon!

I think there will be peaking down virus in America between this month, next month or June so the virus will never hard to America ever again rest of the year.

 

Its the beginning of SHTF, better get ready for living a real life Mad Max / The Walking Dead. 

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Knott's is extending the expiration date of 2020 season passes (all levels and add ons) to 12/31/2021. I'm hoping that all Cedar Parks will also do that since I have a feeling I won't be getting too much use out of the All Season Fast Lane Plus at Dorney this year because I rarely use it outside of the water park/water rides.

 

https://www.knotts.com/park-update

 

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2020 Season Passes Valid Through December 31, 2021

  • 2020 Season Passes and purchased 2020 Season Pass Add-On Products (if applicable) will be valid for the remainder of 2020 when our parks re-open.  Additionally, 2020 Regular, Gold and Platinum Season Passes (as well as purchased 2020 Season Pass Add-On Products) will remain valid through the 2021 Season, ending December 31, 2021.*

 

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5 hours ago, Six Flags FUN! said:

Is gonna be second wave of virus happen in October, and is going to be more huge outbreak or less deadly unlike last one? Or is not going to be a second wave of virus after they are disappear in a couple months. Is going to be normal in USA by summertime if virus disappear like SARS? I think all restaurants, stores, etc will be reopen in next month.

OMG WTH is with you? You literally  post the same question every single day, on all the threads, that NOBODY KNOWS THE ANSWERS TO. There is no crystal ball.... no one knows what the future holds. You need a hobby...

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Hate to go all personal, but considering that several people I know got infected (one of whom recently succumbed to it), the last thing on my mind at this time are theme parks in general, let alone Great Adventure. 
 

Gotta prioritize in times like this. 

Edited by MarioSonic94
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deferring or eliminating at least $40-50 million of discretionary capital projects planned for 2020

 

Looks some projects for 2020 are being cancelled or put on hold this season.  

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I wonder if it is even worth opening Jersey Devil Coaster in 2020 if the park is closed through September.  Might be better to open it as the 2021 addition.

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The company expects to have ample cushion under its debt covenants until at least the fourth quarter of 2020, even if the parks were to remain closed through September.

 

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If the park can't open until Sept, they may not bother to open at all this year. A lot of the smaller parks will close down for good if the closures last that long, it will be an economic FUBAR. 

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