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Six Flags to buy Discovery Kingdom from Vallejo
Posted by: Webmaster | 06 June 2007 13:18

Six Flags intends to buy the city's $52 million interest in Discovery Kingdom theme park, thus ending a multi-million dollar profit-sharing agreement. The park's president announced the company's intentions in a private meeting with City Manager Joe Tanner on Friday, officials said.

The purchase should be completed within two months, officials said. The current bond is $52 million, but Vallejo Finance Director Rob Stout said the park will have to pay more if the city's pending assessment of the 135-acre property's value comes in higher.

Vallejo posted a bond for the park, formerly called Marine World, in exchange for a cut of the total profits. If Six Flags ever exercised their right to buy out the city's interest, then Vallejo would recieve a 'park admission fee' equal to a flat 2.5 percent of ticket sales. However this will not happen until next year, so the city will still receive a share of the total profits for another fiscal year.

Related Links
  • Six Flags Discovery Kingdom - Review
  • Six Flags Discovery Kingdom - Pictures
  • Six Flags Discovery Kingdom - Info
  • Six Flags Discovery Kingdom - Official Site

    Members' Comments

    Topic: Six Flags to buy Discovery Kingdom from Vallejo
    love_rollercoasters 10-Jun-2007 17:25:45
    If Six Flags buys Discovery Kingdom, be sure to expect more hardcore rollercoasters! ;=)

    HANEEF 22-Jun-2007 19:46:23
    I agree with love rollercoasters and I think the coasters will be record breakers.

    --- This message was edited by on 22-Jun-2007 19:46:47 ---

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