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  1. 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.

  2. 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.

    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

  3. Michael is online now themeparX Top Investigator
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    This 230,000 sm Retail Dining and Entertainment project is the Gateway to the Six Flags Theme Park in Bishan, outside Chongqing. Three distinct districts: Seaport Village, Animation street and RDE, integrated with hotels and residential, combine to tell a story influenced by the history of Chongqing and the Yangtze River.








    Source: http://leejstudio.com/twin-peaks-promenade-at-six-flags/

  4. Here's an update for the first 2 Six Flags theme parks in China:

    Six Flags’ shares fell nearly 13% to $54.87 on Thursday, with analysts attributing the decline to the delays in China, as well tepid attendance growth. Shares are down nearly 19% in the past 12 months.

    The company said one Chinese amusement park set to open this year is now scheduled to open in 2020, while another set to open in 2020 has been pushed back to mid-to-late 2021.

    In addition to a slower domestic economy, Six Flags attributed the delays to global trade tensions and more hurdles to doing business there.

    The effects of the delays to revenue are likely to persist.

    “We anticipate the quarterly revenue from our international agreement may be lumpy in 2019 and possibly 2020 as our China partner works through these economic issues,” said Chief Executive Jim Reid-Anderson in a call with analysts.
    Source: https://www.wsj.com/articles/six-flags-shares-fall-as-company-delays-new-parks-in-china-11550178563

  5. Michael is online now themeparX Top Investigator
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  6. Michael is online now themeparX Top Investigator
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    Concept art for Six Flags Hurricane Harbor:



    Source: https://mp.weixin.qq.com/s/ucE4deH3CRA9ORKehHTHSg

  7. Michael is online now themeparX Top Investigator
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  8. Michael is online now themeparX Top Investigator
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    Last week construction began on Six Flags' 37 acre waterpark in Chongqing.



    Source: http://www.cnepaper.com/bsb/html/2018-06/25/content_1_3.htm

  9. Michael is online now themeparX Top Investigator
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  10. Tuzki is coming! Six Flags and Riverside Group teams up with Turner to offer new attractions in Six Flags China theme parks.

    Source: https://www.businesswire.com/news/home/20180322005465/en/Flags-Riverside-Partner-Turner-Offer-New-Attractions

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