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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form 8-K
Current Report
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported) - May 5, 1999
PREMIER PARKS INC.
(Exact name of registrant as specified in its charter)
DELAWARE 1-13703 13-3995059
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(State or other jurisdiction (Commission (I.R.S. Employer
of incorporation) File Number) Identification No.)
11501 Northeast Expressway
Oklahoma City, Oklahoma 73131
(Address of principal executive offices, including zip code)
Registrant's telephone number, including area code - (405) 475-2500
(Former name or former address, if changed since last report)
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ITEM 5. OTHER EVENTS
On May 4, 1999, Premier Parks Inc. acquired Reino Aventura,
the largest theme park in Mexico, for a cash purchase price of $59 million.
Reino Aventura is located on a site of approximately 107 acres in Mexico City.
The park first opened in 1982. In 1998, the park achieved attendance of
approximately 1.7 million and revenues and EBITDA of approximately $27 million
and $7.5 million, respectively (U.S. dollar equivalent).
In addition, Premier has entered into an agreement to purchase
Splashtown Water Park, a large water park located in Houston, Texas on over
sixty (60) acres in Houston, Texas. Splashtown generated approximately
465,000 in attendance in 1998. Premier also operates the Six Flags AstroWorld
and WaterWorld parks in Houston. The closing of the acquisition of Splashtown
complex is expected to occur this month, following satisfaction of customary
closing conditions.
Premier has also entered into an agreement to purchase the White Water-
Atlanta Water Park and American Adventures Entertainment Park, located in
Atlanta, Georgia. The closing of the acquisition of the White Water-Atlanta
Water Park complex are expected to occur this month, following satisfaction of
customary closing conditions. The White Water-Atlanta complex has averaged
attendance of approximately 600,000 over the past five years. Premier also
operates the Six Flags Over Georgia theme park in Atlanta.
Upon conclusion of these transactions, Premier will have thirty-four
(34) parks throughout North America and Europe.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS
(c) Exhibits
99.1 Press Release, dated May 5, 1999.
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned thereunto duly authorized.
PREMIER PARKS INC.
By: /s/ James F. Dannhauser
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Name: James F. Dannhauser
Title: Chief Financial Officer
Dated: May 7, 1999
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Exhibit Index
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Exhibit Description
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99.1 Press Release, dated May 6, 1999.