Skip navigation

Current DateTime: 10:45:53 28 Aug 2008
LinksList Documentid: 24355697

Current DateTime: 10:45:58 28 Aug 2008
LinksList Documentid: 24890560
  • Balancing Act: Credit & Debt

      Managing one's credit and debt has become a high-stakes, high-anxiety balancing act. Here's a guide to help you deal with it.

  • Fannie & Freddie Fallout

      The mortgage market meltdown ensnares two financial giants, raising questions about the health of the nation's financial system.

  • Fat Cat Living

      If you have the kind of money to live the high life and enjoy the high end, here's how to spend it, invest it and save it.

Six Flags CEO: Amusement Parks Poised for Profit
By Krystina Gustafson Special to CNBC.com | 03 Jul 2008 | 09:55 AM ET
Font size:

High gas prices and a weak economy may have knocked Six Flags' stock to less than $1, but the park is poised to have a productive summer season, CEO Mark Shapiro said.

With the majority of its target guests living within 50 miles of the park, its proximity and special deals have continued to lure consumers, even through gas prices continue to sky rocket.

"Families want entertainment, and they want entertainment as a family," Shapiro said. "The difference this year is they want the words 'value' and 'convenience' attached to that entertainment."

To bring consumers this value, the park is offering extended hours, free concerts, fireworks shows and an electrical light parade.

And although the stock is down, the company is on its way to a turnaround, offering a long-term plan for shareholders, Shapiro said.

"We've repositioned the brand, we've repositioned the product, and the people are coming back," he said. "They're spending more, and they're staying longer."

When Shapiro took control of Six Flags [SIX  Loading...      ()   ] about three years ago, it was $2 billion in debt. And while the weak economy has slowed the comany's projected three-year growth, it is still close to the 20 percent increase in guest spending increase it projected.

"If this season continues to play out the way that it started," he said, "we can put this company in the position to be free cash-flow positive for the first time in the history of the company."

© 2008 CNBC, Inc. All Rights Reserved

HOME  |  NEWS  |  MARKETS  |  EARNINGS  |  INVESTING  |  VIDEO  |  CNBC TV  |  CNBC PLUS  |  CNBC HD+
About CNBC   |   Site Map   |   Privacy Policy   |   Terms of Service   |   Advertise   |   Help   |   Feedback   |   Video Reprints
  Data is a real-time snapshot   *Data is delayed at least 15 minutes

Global Business and Financial News, Stock Quotes, and Market Data and Analysis