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Six Flags Kentucky Kingdom Closed


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I have to admit it, I'm pretty darn excited about possibly getting Chang.

Most people won't stand for GADV getting "hand-me-down" coasters, but if it's a pride issue, suck it up - it's a "new" stand up coaster and all the parks have gotten hand-me-downs at a certain time.

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I wouldn't mind getting a used coaster if it is a good coaster like Chang appears to be. Most people who don't follow the industry probably wouldn't even know it is a used ride. It's when a bad or unreliable coaster is relocated I don't like it such as Voodoo at Dorney. It is a lemon ride (3 out of 4 trips it has been closed this year plus lots of downtime in 2008 and 2009) and Laser is now gone possibly as a result. Same with Demon Drop, out of date technology and the bumper cars were removed for it.

 

OK, the rumor has popped up again in a couple of places that Chang may be re-routed to GA. I'm not sure how much I believe that since SFGAm is supposed to be going for approval before the Gurnee board tomorrow, but then again they're just getting approval for a 150' coaster which could be anything. We'll have to wait and see, but I have to say I think it would make more sense for GAdv to get Chang than GAm.

 

I agree, I had always thought that we had a good chance of getting the ride despite the park saying we weren't in 2009 (I thought if we were to get it, they weren't going to say yes at a question and answer session and ruin the announcement). At this point, I think it will go to Great America but I am still hoping we get it especially because like Superman, it would be a coaster that would be very unique to the area.

Edited by Yoshi
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Now the rumor is saying that the Scream Machine will go, and Chang will go in it's "spot". We will know later today at "Planning Board" meeting. If Chang does not come up, my money says we will get it. They are also saying that July 1st. will be last day of the Scream Machine. I think I will go out this week for a few more rides on it, just in case.

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I'm also going to try to get to the park this week to get my final rides. It might be difficult with Tuesday and Thursday being concert days and the park will be jammed so that leaves only Wednesday or maybe trying to go to the park next Tuesday or Wednesday.

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  • 1 month later...

From the Louisville Business Journal:

 

Fair board strikes deal for Kentucky Kingdom property

Agreement could smooth way for lease of amusement park with Ed Hart-led group

 

Six Flags Kentucky Kingdom’s water park and roller coasters were popular summer attractions before the park’s operator announced in February that it would abandon its lease on the park as part of a Chapter 11 reorganization.

 

The Kentucky State Fair Board has taken the next step toward reopening Kentucky Kingdom by settling a property dispute with the amusement park’s former owner, Six Flags Inc.

 

At its regular monthly meeting held yesterday, the fair board approved a master settlement agreement with the park operator’s new management.

 

The settlement could smooth the way for a deal with a new operator that could reopen the popular attraction and major summer employer.

 

The agreement calls for Six Flags to turn over the nearly 20 acres it owns at the 60-acre Kentucky Kingdom and all but one of the park’s rides to the fair board.

 

The fair board also would receive all furniture, fixtures and equipment associated with the park, as well as all intellectual property, such as the rides’ names.

 

In exchange, Six Flags would get $2.35 million and would be relieved of a tax debt to the state that totals close to $2.5 million. Also, $2.8 million in rent payments due to the fair board would be forgiven.

 

The park operator also would be allowed to remove one ride, the Road Runner Express coaster, and take it to another of its venues.

 

Harold Workman, fair board president and CEO, called the agreement with Six Flags “amicable.”

 

“We’re very pleased with it,” he said. “It’s been obviously a long road to get to this point. Both sides have worked very diligently to craft something that was fair to both entities.”

 

Closing announced in February

 

Workman said the agreement still requires the approval of a U.S. Bankruptcy Court judge in Delaware. He is hopeful that ruling would come by the end of August.

 

Six Flags filed for Chapter 11 bankruptcy protection in Delaware in June 2009 and emerged with a new ownership structure in May, taking the name Six Flags Entertainment Corp.

 

The company’s bankruptcy case is not yet closed.

 

Six Flags announced in February that it was walking away from its lease at the Kentucky Exposition Center and closing Kentucky Kingdom.

 

Officials with the amusement park company, now based in Dallas, could not be reached for comment before Business First’s press deadline.

Negotiations continue with Ed Hart group

 

Workman said the agreement with Six Flags allows the fair board to continue negotiations with KK Redevelopment Co., an investment group that wants to reopen and manage Kentucky Kingdom.

 

KK Redevelopment is led by Louisville businessman Ed Hart, who owned and operated the amusement park from 1990 to 1997.

 

The fair board yesterday approved a motion to keep working toward a lease agreement with Hart’s company. It set an October deadline.

 

Workman said the goal is for a deal to be discussed at the fair board’s Oct. 28 meeting. Negotiations with Hart began in earnest in May.

 

Workman said the fair board and Hart are “deep into discussions” about a lease deal, but he could provide no details because they still are preliminary.

 

Hart characterized the talks as “very positive” during an interview this week.

 

So, Chang is the only thing leaving KK. Iit was the only piece worth much there :)

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I wonder where Road Runner Express will go. I think they should send it to SFA that way they can finally get a new coaster and it will barely cost SF anything.

 

 

edit - I also read it as SF taking the ride but didn't realize it was Ed Hart who gets to move it.

Edited by Yoshi
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It kind of seems like Six Flags got the short end of the stick.

I figured this would be the result. Honestly, Six Flags couldn't have hoped for a better deal. "Chang" alone surpasses the value of the divested real estate in this depressed market. Six Flags also receives $2.35M in cash as well as $2.5M in tax debt and $2.8M in rent to the Kentucky State Fair Board forgiven. They also avoid a protracted lawsuit regarding "Chang" for possibly removing it under false pretenses, having to relocate the B&M Standup back to Louisville, and suffering punitive damages. Six Flags also is forgiven any obligation to upgrade the water park in exchange for "Chang".

 

Most of the rides at Kentucky Kingdom are still leased, so leaving them in Kentucky also is a benefit. Any equipment remaining at Kentucky Kingdom is more of a liability for Six Flags than an asset. Either Six Flags would incur the cost to remove/relocate and/or dispose of the items, or sell them at auction for pennies on the dollar. This is a great deal for Six Flags, but the Kentucky State Fair seemingly wants to reopen the park rather than keep it in litigation limbo. I still believe the Kentucky State Fair could have made a case for damages regarding "Chang".

Edited by Thunderbolt
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I'm really glad that didn't happen. It would be bad enough to lose GASM but to lose the ride and then not get the planned replacement ride would be worse.

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I would have thought they would fight for Deluge to come to SFGAm, I guess not.

 

Thunderbolt, since you put it in perspective like that it does sound better now. But I would have expected more than just Chang but they lucked out with Chang.

 

Yoshi, I agree, they should have fought to send it to SFA. Didn't they buy it for SFKK?

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I'm really glad that didn't happen. It would be bad enough to lose GASM but to lose the ride and then not get the planned replacement ride would be worse.

Losing "The Great American Scream Machine" to the scrap heap, versus moving it to Six Flags America or a smaller owned park is the worst. I'd hate to imagine what Six Flags would do if they lost "Chang", considering how they hastily ripped down the Arrow Megalooper. While Great Adventure needs "flat" rides, losing "The Great American Scream Machine" for anything less than a marquee attraction would be disastrous amongst the GP regardless of ridership. Look at how "The Dark Knight" was perceived as the death knell for "Batman & Robin: The Chiller" despite the latter's almost constant downtime.

Edited by Thunderbolt
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Agreed, I have never seen such a bad reaction to a ride as with TDK from people walking out giving the thumbs down sign to people in line from one guy right after the ride opened yelling to the people in line "Get out of line, I'm begging you, it's horrible!". Even over 2 years later I still hear the negative comments. Even when the park was packed April 1st this year and less popular rides like GASM looked to be 45 minutes, TDK was barely over a 20 minute wait.

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