SFOT Purchase Offer From HFEC?

shavethewhales · April 25, 2019, 09:02:31 PM

Apparently Texas Thrillseekers is spreading a rumor that HFEC has put in a bid for SFOT and a couple other SF properties (presumably the adjacent water park in Dallas and maybe FC or DL?)

SFOT supposedly has an odd ownership setup that dates back to the original setup of the park. It's kind of like Dollywood, but somewhat dysfunctional with disputes about how the park should be developed. Supposedly that is one reason why investments have been fairly small despite the massive growth potential of the park. This is one reason why SF may be pressured or coerced into selling the park.

I don't know that the rumor has any weight, but I do know that HFEC has tried to purchase SF properties before. When SF sold off Elitch, Darien, FC and several other properties during their 2006 bankruptcy, HFEC put in a bid but was beat out by CNL. For some reason I believe SFMM was part of the deal at the time, but HFEC didn't want it, and that soured the deal.

Swoosh · April 25, 2019, 09:28:09 PM

***looks at calendar ***

Nope. Not April 1st

shavethewhales · April 25, 2019, 11:13:57 PM

Lol, I just noticed that they called out a figure of $5 billion for the deal. Perhaps this guy is just getting played... For that money you could build a bigger better SFOT... Three or four times over...

But maybe there is a pinch of truth to it all and HFEC did send SF some kind of bid. Maybe it never goes anywhere, but it shows HFEC is trying to expand the park business again. Would love to see a fourth park...

sdcfan88 · April 25, 2019, 11:29:00 PM

I have to say IF this were indeed true SFOT would be my pick if they were to buy out and convert a SF park to their style. It would make a great candidate to be a Dollywood/SDC for this part of the country as it has a similar "style" as the two major abeforementioned parks. Granted the DC and Looney Tunes parts would have to be removed and rethemed but the Texas/Spain/Mexico segments would fit right in as a Texas version of SDC. The city area could be rethemed to the 50's-60's stuff we had at CC and currently at Dollywood.

KBCraig · April 26, 2019, 02:16:35 AM

When I was young, we went to SFOT a few times, and we went to SDC.

By the age of 10, I hated SFOT and loved SDC. I consider SF the anti-SDC.

Swoosh · April 26, 2019, 06:20:53 AM

Quote from: shavethewhales on April 25, 2019, 11:13:57 PM
Lol, I just noticed that they called out a figure of $5 billion for the deal. Perhaps this guy is just getting played... For that money you could build a bigger better SFOT... Three or four times over...

But maybe there is a pinch of truth to it all and HFEC did send SF some kind of bid. Maybe it never goes anywhere, but it shows HFEC is trying to expand the park business again. Would love to see a fourth park...

Apparently the $5B price tag is for 3 parks, not just SFOT.

sanddunerider · April 26, 2019, 07:23:46 AM

Quote from: Swoosh on April 26, 2019, 06:20:53 AM
Quote from: shavethewhales on April 25, 2019, 11:13:57 PM
Lol, I just noticed that they called out a figure of $5 billion for the deal. Perhaps this guy is just getting played... For that money you could build a bigger better SFOT... Three or four times over...

But maybe there is a pinch of truth to it all and HFEC did send SF some kind of bid. Maybe it never goes anywhere, but it shows HFEC is trying to expand the park business again. Would love to see a fourth park...

Apparently the $5B price tag is for 3 parks, not just SFOT.

Yes, With that many zeros it would have to be more than just the one location....

JJH · April 26, 2019, 08:44:34 AM

The market cap for Six Flags is ~4.5B. Unless they are buying the whole corporation, the bid price is not correct. Also there is no significant movement of the shares that would reflect even a rumor.

HumphreyHawk · April 26, 2019, 09:21:18 AM

Wouldn't SFOT be considered SFs "home park"? and probably a top 5 flagship park?

The park is out of real estate. When I went 2x last year I wondered about its future myself. Its location is both perfect for a national flagship theme park but the lack of real estate also really limits its potential. I would say it's a regional park by 70s standards but it is now just a local park that feels old. I would think that the DFW area could actually support a bigger park....or 2nd major park. I bet it is a cash cow as it is right now in that market....but I wouldn't recommend it as a national must see park.

I have a hard time seeing how HFEC would manage it....it is so different than the resort town parks they have now.

Then SFMM....wow....that is a whole different culture and level of management. That park seems to be the the step-child that is successful in it's own way but they don't know if its worth the trouble to keep it. Plus....every few years you here rumors that it's land is more valuable than the park it self. The Ninji loading station last time I was there had a lovely view of the half leveled mountain behind MM being cleared for more condos.

sirwillow · April 26, 2019, 04:20:38 PM

I obviously don't know about anything on the inside, but on the outside every bit of me says that this is utterly ridiculous in every way.

Six Flags isn't going to let SFoT go. And I highly doubt that they'll let any go when they've started acquiring parks again.

I don't know that Herschend in interested in it, or why.

And the price tag of $5 billion? Even for 3 parks, I mean come on. That's so far out of any sort of realm of reality.

I think someone is either getting played hard, or is having a great time starting a silly story and actually watching people respond to it. Looking over their FaceBook page, it wouldn't be the first time that something with no truth to it came from them.

sanddunerider · April 26, 2019, 06:45:03 PM

Quote from: sirwillow on April 26, 2019, 04:20:38 PM
Looking over their FaceBook page, it wouldn't be the first time that something with no truth to it came from them.

Now, Now Willow.....

YOu KNOW!!! if it is on FB, its has to be the truth... LOL..

like fox news and cnn

sirwillow · April 28, 2019, 02:29:03 PM

Screamscape and a few others have come out with reports on this and have confirmed it as bunk. There were some talks a few years back, but that's all they were was talks. Nothing of any serious interest.

The interesting thing looking at some of the discussion is that the one that started this whole rumor and self confirmed it has also had a, shall we say, not so good relationship with SFoT, and yet he's claiming that he somehow as inside information from their directors that he doesn't get along with. It's a kid wanting some attention and nothing real behind it.

shavethewhales · April 28, 2019, 05:13:00 PM

^The original source put out a video himself and retracted most of his statements. Screamscape just regurgitated it like everything else. The talks did happen, but they are not currently on-going at this time.

I knew it was just a rumor, but had kind of hoped that some kind of nugget of truth was buried in it and HFEC was sniffing around for another acquisition.

Trevor at the TTS bunch are an interesting lot for sure, but enthusiasts are enthusiasts and rumors are rumors. You have to take both with a huge a huge grain of salt and remember that it's all just fun discussion.

I still think HFEC is ready for another major property.

Swoosh · April 28, 2019, 05:31:02 PM

I doubt it would happen but Holiday World would be a good fit for HFEC. For selfish reasons I'd love them to buy Adventureland in Iowa.