Exhibit 99.1
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FOR: SIX FLAGS, INC.
CONTACT: Jim Dannhauser, Chief Financial Officer
122 East 42nd Street
New York, NY 10168
(212) 599-4693
KCSA Sarah Shepard / Joseph A. Mansi
CONTACTS: (212) 896-1236 / (212) 896-1205
sshepard@kcsa.com / jmansi@kcsa.com
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FOR IMMEDIATE RELEASE
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SIX FLAGS, INC. (NYSE: PKS)
YEAR-TO-DATE UPDATE
NEW YORK, July 18, 2001- Kieran E. Burke, Chairman and Chief Executive
Officer of Six Flags, Inc. ("Six Flags") (NYSE: PKS) commented today on Six
Flags' performance for the year-to-date period ended July 15, 2001
"Through last weekend, our combined systemwide attendance is up
approximately 3.3% over same period last year. Combined with an aggregate per
capita spending increase of 2.0% in constant currencies, this attendance growth
has caused park-level revenues to be up 5.0% over last year on a constant
currency basis. (Constant currencies restate last year's international
performance at this year's rates.)
"A portion of this revenue growth is attributable to the inclusion in
our results of the parks acquired since the close of our 2000 operating season.
Since the former Sea World of Ohio now operates together with Six Flags of Ohio
as a single gate, it is difficult to separate out this park's performance.
Excluding the results of Montreal and Seattle, revenues are up approximately
4.0% in constant currencies over the prior year.
"Our early season performance was not as strong as we had originally
hoped. We were hampered by difficult early season weather in Europe and, to a
lesser extent, in some Northeastern markets. We have also experienced somewhat
lower than expected growth in per capita spending, particularly in Europe, which
may reflect the impact of difficult economic conditions.
(more)
"We have seen a significantly improved performance trend over the past several
weeks. In addition, we have good season pass sales and solid group bookings.
With approximately 50% of our season remaining, it is difficult to predict with
certainty what our full year performance
SIX FLAGS REPORTS/2
will be, and whether these improved trends and good advance bookings will propel
a performance which will close the gap to our expected $460 million in Adjusted
EBITDA for the year. We will report further at the time of the release of our
second quarter figures in mid-August."
Six Flags, Inc. is the world's largest regional theme park company,
with thirty-eight parks in markets throughout North America and Europe.
# # #
The information contained in this news release, other than historical
information, consists of forward-looking statements within the meaning of
Section 27A of the Securities Act and Section 21E of the Securities Exchange
Act. These statements may involve risks and uncertainties that could cause
actual results to differ materially from those described in such statements.
Although the Company believes that the expectations reflected in such
forward-looking statements are reasonable, it can give no assurance that such
expectations will prove to have been correct. Important factors, including
general economic conditions, consumer spending levels, adverse weather
conditions and other factors could cause actual results to differ materially
from the Company's expectations.
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This release and prior releases are available on the KCSA Public Relations
Worldwide Web site at www.kcsa.com.
11501 Northeast Expressway o Oklahoma City, Oklahoma 73131o Tel: 405-475-2500 o
Fax: 405-475-2555 122 East 42nd Street o 49th Floor o New York, New York 10168 o
Tel: 212-599-4690 o Fax: 212-949-6203