Six Flags is coming to China. At least, it's trying to and with a new partnership with Riverside Investment Group Co. Ltd., a leading real estate developer in China, plans can finally get rolling for the world's largest regional theme park to expand into China. With the new partnership, Six Flags Entertainment Corporation hopes to bring theme parks to the country over the next decade.
"Our international expansion strategy is focused on finding the right partners in the right markets, and Riverside Investment Group will be the perfect strategic partner for us in China," said Jim Reid-Anderson, Chairman, President and CEO of Six Flags Entertainment. "We are honored to be working with this world-class organization as we continue taking the Six Flags brand to growing markets outside North America."
"We are honored to enter this strategic relationship with Six Flags and expand the entertainment offerings in China," said Chairman Li of Riverside Investment Group. "We are confident this world-class brand and unique form of entertainment will attract millions of guests to our parks."
The terms of the arrangement have not been disclosed.
Six Flags is already a widespread theme park. Six Flags Entertainment Corporation is the world's largest regional theme park company with $1.1 billion in revenue and 18 parks across the United States, Mexico and Canada.
Six Flags has been around for 53 years and has entertained millions of families with its thrilling rides like roller coasters, its fun water parks and unique attractions like close-up animal encounters, Fright Fest and Holiday in the Park.
China isn't the only country that Six Flags is hoping to expand to. In April, the company said that it formed a partnership with Dubai to bring its theme parks there. The first park is expected to open in late 2017.
Six Flags has shown great improvement over the last few years after getting out of bankruptcy court protection in May 2010. The company was hit hard due to declining attendance during the recession. Its revenue and attendance have since greatly improved.
