July 20, 2016
GRAND PRAIRIE, Texas--(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.
