GRAND PRAIRIE, Texas - Wednesday, July 20th 2016 [ME NewsWire]
(BUSINESS WIRE)-- Six Flags Entertainment Corporation (NYSE: SIX), the world’s largest regional theme park company, and Riverside Investment Group Co. Ltd., a leading real estate developer in China and existing partner of Six Flags, today announced the signing of a letter agreement for the potential development of a second Six Flags-branded theme park in China together with a water park. The two parks will be located in Bishan, a district of Chongqing, with a surrounding population of approximately 120 million people.
“Developing two parks in Chongqing, the most populous municipality in China, is another step forward in executing our long-term strategy to expand our brand outside of North America and bring Six Flags thrills to millions of new guests,” said John Duffey, President and CEO. “Riverside is an excellent partner and we share a common vision to develop multiple Six Flags-branded parks in China.”
“As the exclusive strategic partner of Six Flags in China, we are excited about the development of two parks in Chongqing of western China, the biggest city in the world,” said Li Zhe, chairman of the Riverside Investment Group. “With the ongoing support of the Chinese government and the strength of the Six Flags brand, we are confident these projects will provide strong economic growth in China.”
The letter agreement is subject to negotiation of definitive documents.
The first Six Flags-branded theme park in China is anticipated to open in 2019 and will be located in Haiyan, Zhejiang province, near Shanghai. It will feature a number of record-breaking roller coasters, unique thrill experiences, incredible live shows and more. For additional information about the Haiyan park, visit www.sixflags.com/haiyan.
About Six Flags Entertainment Corporation
Six Flags Entertainment Corporation is the world’s largest regional theme park company with $1.3 billion in revenue and 18 parks across the United States, Mexico and Canada. For 55 years, Six Flags has entertained millions of families with world-class coasters, themed rides, thrilling water parks and unique attractions. For more information, visit www.sixflags.com.
About Riverside Investment Group Co. Ltd.
Riverside Investment Group Co. Ltd. was registered in Canada in 1997. With China’s fast-developing cultural and tourism industries and urbanization process, Riverside Group has become a leading real estate developer, focusing on overall health care, tourism, culture, entertainment industries and high-end residential buildings. It is also an investor, constructor and operator of middle and high-end communities, participating in the whole industrial chain from planning and design to construction, business attraction and operation. Riverside Group’s projects are twice the recipient of the UN International Garden Community Gold Award, best represented by its world-class R&D, the pursuit of perfection, the respect to culture and the inheritance of civilization, all of which make it the leader in China’s real estate industry. For more information, visit www.lvcgroup.com.
Six Flags Entertainment Corporation
Sandra Daniels, +1-972-595-5178
Nancy Krejsa, +1-972-595-5083