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Dreamworks to Open Theme Park in The Meadowlands


CreaseCrusader91

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The Gothamist

Move over Six Flags, stand aside Coney Island? The tristate area is getting a new amusement park?and this one'll probably have air conditioning. According to the New York Times, Dreamworks Animation has agreed to open an indoor theme park in the troubled, much-delayed Meadowlands mega-mall once known as Xanadu and now re-conceived as "American Dream" (of course!). Finally, a chance to see Shrek in person after he struck out on Broadway?

 

Dreamworks has tried to capitalize on its characters in a theme park before, but for various reasons hasn't been able to finish the deals. Maybe this time they'll be lucky. The latest attempt is planned to "include rides, attractions and a glass-enclosed wave pool incorporating characters from the studio?s movies." According to CEO Jeffrey Katzenberg, the park will involve "characters, storytelling and technology in a unique and innovative family entertainment experience."

The park will go in the planned five-story, $1.9 billion, mall not far from MetLife Stadium, which has had more than its share of headaches as it tries to rise up from the wetlands. The latest headache being a lawsuit by the Giants and Jets regarding how the mall might hurt traffic on game days (a suit which the mall is trying to have tossed out).

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The themepark industry is doing very well these crisis days, but I wonder how big of a park this could be. Especially indoors the options are very limited and you can't go indoor with a park like Six Flags. The only big indoor park in the US is the Nickelodeon Universe at Mall of America in the Twin Cities and that's more of a childrens/family park than a thrillseekers park, despite a good looping ride or two.

 

Also, Dreamworks has franchised it's movies to other amusement parks. Shrek has been in a ton of parks and for them to open their own park does not make a whole lot of sense. I am very much wondering what their plan is. It's going to be interesting, but for them to threaten Six Flags or even the newly renovated Coney Island will take an investment that I can't see them make right now.

 

Who is going to rightfully invest $500M to $1B dollars in an amusement park right now, especially in a market with 4-5 big parks (Hershey, Dorney, Six Flags, etc.) in the area and serving all markets?

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I am far more excited about the recent investments in the Coney Island Cyclone. The new Italian owners (Zamperla Co.) have hired the best wooden rollercoaster builders in the world to re-track the ride to last for the future years and be smoother than the rough ride it apparently was the recent seasons. Very good decision, especially with them installing multiple other rollercoasters as well.
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Rough ride? Shit can kill you, and you don't leave without whiplash.

 

The best part about it is that when you get on, you may not get off.

 

LOL, well, that is changing now. The first drop, turn around and second drop have been re-done and are a lot better now. The rest of the ride is done next winter and in 2013, but obviously that first drop was the worst part.

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The themepark industry is doing very well these crisis days, but I wonder how big of a park this could be. Especially indoors the options are very limited and you can't go indoor with a park like Six Flags. The only big indoor park in the US is the Nickelodeon Universe at Mall of America in the Twin Cities and that's more of a childrens/family park than a thrillseekers park, despite a good looping ride or two.

 

Also, Dreamworks has franchised it's movies to other amusement parks. Shrek has been in a ton of parks and for them to open their own park does not make a whole lot of sense. I am very much wondering what their plan is. It's going to be interesting, but for them to threaten Six Flags or even the newly renovated Coney Island will take an investment that I can't see them make right now.

 

Who is going to rightfully invest $500M to $1B dollars in an amusement park right now, especially in a market with 4-5 big parks (Hershey, Dorney, Six Flags, etc.) in the area and serving all markets?

 

Actually, Six Flags has been doing crappy. They have almost filed for bankruptcy the past 3 summers. There have been talks to close a couple of parks. I havent been to one in a couple of years, but everyone I know that goes keeps saying it is getting worse and worse. They need some major changes if they plan to survive, they are over pricing themselves.

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Didn't they file for bankruptcy? Like Chapter 11 or something?

 

By "they" I mean Six Flags.

 

A few family members that I work for actually sold stocks before Six Flags started to sink

 

They either did file or were close to it. I know they were losing money like crazy though.

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Yes, Six Flags was/is losing money like crazy, but they are an exception and it's more due to other issues and previous investments than the actual market of amusement parks not doing well. Other amusement park groups like Disney and Cedar Fair (they own Cedar Point, Dorney Park, Kings Dominion and more) are doing great, as are individual parks. There have been major investments in most American and European themeparks lately, because the business is booming. The problems Six Flags has are not because of recent issues and they have sold some of their parks and rides and are actually doing a lot better this year.

 

From Wikipedia: "Six Flags officially emerged from bankruptcy protection on May 3, 2010, and announced plans to issue new stock on the New York Stock Exchange. Amid suspected disagreements regarding the future of the company with the board, Shapiro left the company and Al Weber, Jr. was brought in as interim President and CEO. The company announced their corporate headquarters would move from New York City to Grand Prairie, Texas."

 

All is well in amusement park land these days. More so than other tourism and entertainment businesses and the number of parks in immediate trouble is very low. I don't think parks like Six Flags Great Adventure, Coney Island's Luna Park, Hersheypark, Dorney Park, Knoebels (just to name some parks relatively near NYC) could have ALL opened major new rides (rollercoasters) if business wasn't going well for them.

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