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Local Name:
六旗主题乐园
Budget:
Announced:
23 Jun 2014
Construction Start:
04 Jan 2016
Opening:
Location:
China
Area:
  1. admin is offline Administrator
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    This thread is now for Six Flags Chongqing, Six Flags Nanjing, Six Flags Fuzhou and any other potential Six Flags-branded theme parks in China. If any of these previously announced Six Flags parks are revived with new developers and branding, threads on themeparX will be adjusted accordingly. For updates pertaining to the Six Flags (now Sunac) park planned for Haiyan, posts can be viewed/made here: https://www.themeparx.com/hangzhou-bay-sunac-cultural-tourism-city/

  2. Michael is online now themeparX Top Investigator
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    'The Paper', a Chinese news publication, today came out with an in-depth article about Six Flags in China including the history of the developments and the current status of the parks

    Here's a few key points from the article:

    - Sunac is confirmed to have taken over the parks in Chongqing as well as the already confirmed parks in Zhejiang.
    - At least one unspecified Six Flags park in Chongqing (assumed to be the waterpark which has already begun slide installation) is scheduled to open in 2021.
    - The parks planned for Nanjing are still moving forward with a planned opening date now in 2022.
    - The current plan for the Nanjing project is to invest 600 million yuan in 2020 and then complete the preview center by the end of the year.
    - Within a year from now Six Flags Nanjing is expected to complete installation of the waterpark.

    Source: https://www.thepaper.cn/newsDetail_forward_8040513

  3. Michael is online now themeparX Top Investigator
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    According to the Fuzhou government, plans for a Six Flags theme park and waterpark are still in the works

    Source: https://m.weibo.cn/status/4516941643894752

  4. Michael is online now themeparX Top Investigator
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    WhiteWater slide pieces ready to be installed soon at Six Flags Hurricane Harbor in Chongqing



    Source: https://www.instagram.com/p/B_AycwwhkiV/

  5. Michael is online now themeparX Top Investigator
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    On April 8 waterslide installation inexplicably began on Six Flags Hurricane Harbor waterpark in Chongqing. It's unclear who is paying for this installation and what the plan is...









    Source: https://mp.weixin.qq.com/s/HT3zGjo5saTbC2ZdTi23Lw

  6. Michael is online now themeparX Top Investigator
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    Sad photos and a video from last month showing the state of Six Flags Hurricane Harbor waterpark in Chongqing

    Video showing the WhiteWater slide pieces sitting in a lot - https://www.weibo.com/tv/v/IxWhGeTnc?fid=1034:4480888612782117

















    Source: https://m.weibo.cn/status/4480856736982282

  7. decafmochatini is offline New User
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    Thanks. It looks like Six Flags will be taking a "one time" loss on the development in their 4th quarter of 2019.

    Any idea how much of an investment Six Flags has made thus far? Or is the capital investment all Riverside's and it's a royalty/franchise type arrangement?

  8. Michael is online now themeparX Top Investigator
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    We finally have an official statement from Six Flags acknowledging the issues that Riverside is experiencing:

    The development of the Six Flags-branded parks in China has encountered continued challenges and has not progressed as Six Flags Entertainment Corporation (the 'Company') had expected. The Company's partner in China, Riverside Investment Group ('Riverside'), continues to face severe challenges due to the macroeconomic environment and the declining real estate market in China. This has led Riverside to default on its payment obligations to the Company and, as such, the Company has delivered formal notices of default under its agreements. While the Company continues to work with Riverside and each of Riverside's governmental partners, the eventual outcome is unknown and could range from the continuation of one or more projects to the termination of all the Six Flags-branded projects in China.
    Source: https://otp.tools.investis.com/clients/us/sixflags1/SEC/sec-show.aspx?Type=html&FilingId=13839504&CIK=0000701374&Index=10000

    This situation which has been building up throughout 2019 does not only affect Six Flags and Riverside Group but also many ride suppliers. In the future, there is potential for other Chinese developers to take over the in development parks from Riverside and rebrand them to something without Six Flags.

  9. Michael is online now themeparX Top Investigator
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    Trading of Riverside Group's stock has been frozen. This is in the midst of major layoffs, lawsuits and construction shut downs. Remember the play area built next to Six Flag Zhejiang's preview center (http://www.themeparx.com/six-flags-china-parks/?p=12358#post12358)? It seems that in another recent lawsuit against Riverside, the company that manufactured and installed that play area was not sufficiently paid for more than half a year so that case is now in court.

    Source: https://ihouse.ifeng.com/news/2019_12_23-52499222_0.shtml

  10. Michael is online now themeparX Top Investigator
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    Things seem to not be going so well with Riverside Group, the Chinese developer behind all of these Six Flags parks. Last week, Riverside released a statement addressing the company's status. To paraphrase the statement in English, they first blame a "depressed" real estate market. Then they talk about how some of their upcoming tourism projects are a light asset model, which will benefit Riverside Group long term and help with stability. Next they address the mass layoffs in which they talk about a "transformation" in which they begin to realize that the company has had some problems regarding the staff and management organizational structure. To deal with this they over the course of the past year have been "gradually" "optimizing and adjusting" the company's employee structure which includes "streamlining" which employees are at the headquarters. At the end of the statement Riverside Group expresses optimism for a "bright future".

    According to a new article, which is also paraphrased to English here, up to 90% of Riverside Group's employees are or will be laid off and according to tourism industry "experts", Riverside Group is "dying". Riverside Group is facing legal troubles. Among the issues, the company is being taken to court constantly, for instance, a media company hired to make promotional material for the upcoming Six Flags park in Zhejiang was not properly compensated for their services and have taken Riverside Group to court seven times. Former employees of Riverside Group are complaining to reporters about not being fully paid while working there. Executives at Riverside Group are being accused of spending frivolous amounts of money on extravagant ski trips and parties while meanwhile the company has a large loan due for payment next month which will go unpaid and become overdue. The reporters for the article visited the construction site of Six Flags in Zhejiang. They claim that the construction site has been abandoned with no work taking place:

















    Sources: https://mp.weixin.qq.com/s/Mm1lHIrgMdS5c-RrwEUsjw and https://mp.weixin.qq.com/s/K0zhFEf-NIKSAs6Jxwunzw and https://tech.sina.com.cn/roll/2019-12-17/doc-iihnzhfz6435833.shtml

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