December 6, 2000
New York, NY--Six Flags, Inc. announced today that it has acquired Wild Waves and Enchanted Village, a water park and children's ride park located in Seattle, Washington.
The facility, which is located on approximately 70 acres, has averaged 500,000 in annual attendance over the last five years. In 2000, the park achieved revenues and EBITDA of approximately $10 million and $3.7 million, respectively.
Six Flags stated that it had purchased Wild Waves and Enchanted Village for $19.3 million in stock.
"We are very pleased to acquire a facility in the Seattle market for such an attractive price," stated Kieran E. Burke, Chairman and Chief Executive Officer of Six Flags. "Seattle is the 14th largest city by population in the country and there is virtually no competition. This park will be a very good cash flow generator for us."
Six Flags, Inc. is the world's largest regional theme park company, with thirty-seven parks in markets throughout North America and Europe.