Business

The Six Flags Entertainment Corporation has resumed trading on the New York Stock Exchange for the first time since the company declared chapter 11 bankruptcy last year.

The move follows the completion of a massive financial restructure in May that reduced Six Flags' debt to approximately $1 billion.

"With the financial restructuring behind us and a much improved balance sheet, Six Flags is well positioned for future growth", Al Weber, President and Interim Chief Executive Officer of Six Flags, said.

Six Flags' current share price is $36.47.

Photo: Six Flags Magic Mountain

Six Flags Entertainment Corporation has announced its operating results for the three-month period ending 31 March 2010.

Total revenues for the company increased 12 per cent to $57.3 million.

Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization or enterprise multiple) dropped slightly; a decrease of $0.5 million was recorded, bringing the total to $(60.0) million.

Cash operating expenses climbed $6.0 million, or 5 per cent, to $118.7 million.

Per capita spending rose from $34.27 to $35.44, representing an increase of 3 per cent.

Photo: Six Flags Magic Mountain

The Walt Disney Company has released its second-quarter financial report for the period ending 3 April 2010.

Revenue from Disney's parks and resorts climbed to $2.4 billion, representing a 2 per cent increase.

Operating income decreased 12 per cent to $150 million.

A decrease in attendance and rising operating costs at Disney's US locations were offset by an increase in guest spending.

A jump in the average ticket price was responsible for the improved per capita spending.

Disney's international performance was mixed; the Hong Kong Disneyland Resort recorded an increase in attendance and hotel occupancy, while Disneyland Paris saw a decrease.

A total of $644 million was spent on capital expenditure in the six-month period, up from $503 million spent in the first half of 2009.

Photo: Disneyland

Ardent Leisure has released its third-quarter financial results for the period ending 31 March 2010, which shows that the group's three Gold Coast tourist sites are continuing to see a fall in earnings.

The three sites, Dreamworld, WhiteWater World and Q-Deck, brought in a total of $79.57 million for the nine-month period, representing a fall of 5.1 per cent.

Earnings before property costs fell 11.2 per cent to $29.86 million.

This was the first time that Q-deck figures were included in the third-quarter figures.

Revenue for the April 2010 period, which saw the addition of Illuminate and The Wedgie, fell from $8.6 million to $8.1 million.

Ardent Leisure's current share price is $1.19.

Photo: Dreamworld

Cedar Fair has announced its first quarter results for the period ending 28 March 2010, showing that some segments are starting to show growth once again.

Net revenue increased to $27.3 million, a 3 per cent increase over prior-year figures.

Increased early-season attendance in the company's western and southern regions contributed to the improved net revenue.

EBITDA (earnings before interest, taxes, depreciation and amortization or enterprise multiple) dropped to $(56.7) million.

Operating costs for the first quarter rose from $56.3 million to $60.6 million.

The now-terminated Apollo Global Management deal was responsible for the first quarter's inflated operating costs.

"Our pre-season operating costs were in line with our expectations for the quarter", said Dick Kinzel, Cedar Fair's Chairman, President and Chief Executive Officer.

"Only four of our 17 properties were in operation at the end of the first quarter. The other parks, including our largest seasonal parks -- Cedar Point, Kings Island and Canada's Wonderland -- were in the final stages of preparing to open for their operating seasons", Mr Kinzel added.

Photo: Carowinds