Six Flags Evaluates Impact from Mexico Earthquake
September 20 2017 - 7:00AM
Business Wire
Six Flags Entertainment Corporation (NYSE: SIX), the world’s
largest regional theme park company, noting yesterday’s serious
earthquake near Mexico City, provides this update about the
company’s two parks in Mexico. Most importantly, Six Flags is
thankful that all of its employees in Mexico appear to be safe and
sound. Six Flags Mexico and Six Flags Hurricane Harbor Oaxtepec
were closed at the time of the earthquake.
The earthquake struck in the State of Puebla, south of Mexico
City, which is about 50 miles from the company’s new water park in
Oaxtepec. A preliminary investigation indicates damage to a number
of the structures in the water park and the company is currently
assessing the extent of the damage. After a careful evaluation, the
company will be in a better position to understand the extent of
the damage, develop a remediation plan and assess when the park
will reopen.
Damage to the theme park in Mexico City appears to be minimal.
However, consistent with its emphasis on safety for guests and
employees, the company is in the process of evaluating all rides
and structures in the park and will only reopen the park for guests
when the company is entirely satisfied after a thorough safety
review.
The company maintains both property and business interruption
insurance, and does not currently believe the consequences of the
earthquake will be material to its results or prospects.
Six Flags extends heartfelt thoughts and prayers to its
employees and to all those impacted by the earthquake.
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 20
parks across the United States, Mexico and Canada. For 56 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.
Forward Looking
Statements
The information contained in this 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. These risks and
uncertainties include, among others, (i) the adequacy of cash flows
from operations, available cash and available amounts under our
credit facilities to meet our future liquidity needs, (ii) our
ability to roll out our capital enhancements in a timely and cost
effective manner, (iii) our ability to improve operating results by
implementing strategic cost reductions, and organizational and
personnel changes without adversely affecting our business, (iv)
our operations and results of operations, and (v) the risk factors
or uncertainties listed from time to time in the company’s filings
with the Securities and Exchange Commission ("SEC"). In addition,
important factors, including factors impacting attendance, such as
local conditions, contagious diseases, events, disturbances and
terrorist activities; recall of food, toys and other retail
products sold at our parks; risk of accidents occurring at the
company’s parks or other parks in the industry and adverse
publicity concerning our parks or other parks in the industry;
inability to achieve desired improvements and our aspirational
financial performance goals; adverse weather conditions such as
excess heat or cold, rain and storms; general financial and credit
market conditions; economic conditions (including customer spending
patterns); changes in public and consumer tastes; construction
delays in capital improvements or ride downtime; competition with
other theme parks and other entertainment alternatives; dependence
on a seasonal workforce; unionization activities and labor
disputes; laws and regulations affecting labor and employee benefit
costs, including increases in state and federally mandated minimum
wages, and healthcare reform; pending, threatened or future legal
proceedings and the significant expenses associated with
litigation; cyber security risks and other factors could cause
actual results to differ materially from the company’s
expectations. Although the company believes that the expectations
reflected in such forward-looking statements are reasonable, it can
give no assurance that such expectations will be realized and
actual results could vary materially. Reference is made to a more
complete discussion of forward-looking statements and applicable
risks contained under the captions "Cautionary Note Regarding
Forward-Looking Statements" and "Risk Factors" in the company’s
Annual and Quarterly Reports on Forms 10-K and 10-Q, and its other
filings and submissions with the SEC, each of which are available
free of charge on the company’s investor relations website at
investors.sixflags.com and on the SEC’s website at www.sec.gov.
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version on businesswire.com: http://www.businesswire.com/news/home/20170920005460/en/
Six Flags Entertainment CorporationStephen Purtell,
+1-972-595-5180Senior Vice PresidentInvestor Relations and
Treasurerspurtell@sftp.com
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