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Six Flags could scrap plan to open parks in China

01/14/2020| 12:05:58 PM| 中文

The company is facing financial setbacks due to struggling projects overseas and declining attendance in the U.S.

Six Flags Entertainment is struggling with its planned parks in China and might scrap plans to complete them, according to its latest regulatory filing.

The Grand Prairie-based theme park operator said its Chinese business partner, Riverside Investment Group, had defaulted on its payments to Six Flags due to a declining real estate market in China.

Six Flags now expects that it won’t see any revenue from the projects in China and will have to make a negative $1 million revenue adjustment.

Six Flags’ struggling operations in China weren’t the only troubling news in the filing, however, which also noted that the company expects to report fourth-quarter revenue of $8 million to $10 million less than the prior year. The company cited lower park attendance, season pass and membership sales.

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TAGS: Six Flags | Riverside Investment | theme parks
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