City Paper is not for tourists
Dan Snyder’s still afloat-ish theme park chain, Six Flags, now finds its name on yet another roster of companies nearing abyssdom.
Business Week cites Snyder’s outfit as part of a feature on “Companies Vulnerable to Default.”
Of course, since Snyder took over, Six Flags showing up on these shit lists has become as unremarkable as Amy Winehouse clubbing in torn stockings.
But what makes this report new and awfuller for Six Flags is the amount of debt attributed to the company by Business Week: $3.14 billion.
That’s several hundred million bucks more in the hole than in previous reports. Another earnings report for Six Flags will be delivered by Snyder’s board of directors on Monday, and, as has been said before, the company appears to be one weak report away from disappearing.
Press releases from Six Flags about the upcoming report seem to be portending not-great news, with mentions of the third quarter 2008 having fewer business days than the same period in 2007, and the fact that while releasing the earnings report company officials will also release stats and data from this year’s FrightFest
Also, investors might want to ask themselves: If the third quarter figures were glowing, why would Six Flags embargo ’em til mid-November?
But, even if the real Six Flags goes away, a virtual version will exist: Last week, video game giant Brash Entertainment released “Six Flags: Fun Park,” which it describes as a “zany” game that will “allow thrill seekers the opportunity to experience a year round, take anywhere amusement park adventure.”
In any case, the game maker really does seem to understand the real-world Six Flags experience: Variety reported today that Brash Entertainment is “short on cash” to the tune of several hundred million dollars, and, after laying off almost the entire staff this week, is “struggling to survive.”
Keep the dial right here for all the breaking news in Snyder’s Six Flags soap opera.