Six Flags Entertainment is struggling with its planned parks in China and might scrap plans to complete them, according to its latest regulatory filing.
The Grand Prairie-based theme park operator said its Chinese business partner, Riverside Investment Group, had defaulted on its payments to Six Flags due to a declining real estate market in China.
Six Flags now expects that it won’t see any revenue from the projects in China and will have to make a negative $1 million revenue adjustment.
Six Flags’ struggling operations in China weren’t the only troubling news in the filing, however, which also noted that the company expects to report fourth-quarter revenue of $8 million to $10 million less than the prior year. The company cited lower park attendance, season pass and membership sales.
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