Financial Struggles for State Fairs and Amusement Parks.

Financial Struggles for State Fairs and Amusement Parks

Team

2

Texas State Fair [Dallas/Forth Worth]

* State Fair of Texas, Inc. is a private, non-profit corporation. It receives no funds from state, federal or local government and is entirely self-supporting.

* Corporate sponsorship began to play an increasingly important role in programming. Involvement by major companies made it possible for the State Fair of Texas to offer its visitors a range of exhibits.

Michigan State Fair * Jennifer Granholm canceled the fair, saying

debt-ridden Michigan could no longer afford to subsidize it. Granholm's decision makes Michigan the only Midwestern state and one of few nationwide without a state fair..

* the fair had been running deficits and needed $360,000 from the state in 2008 to cover losses.

* But part of the problem also seems to have been the fair's inability to successfully marry its agrarian roots with money-making entertainment as other state fairs have done.

Six Flags * Six Flags is in danger of filing for bankruptcy * Six Flags shares are down 20 % and have been

trading for less than a dollar since last September.. * The amusement park says it may be forced in to

Chapter 11 if it can't come up with a deal to restructure its debt.

* Six Flags is looking to cut back on its capital investments over the next few years, as it slows its expansion and conserves cash to pay off corporate debt.

* The company plans to scale back its annual capital expenditure (the money it spends on new buildings and equipment, including rides) from $340 million last year to $125 million a year..

Six Flags Cont… * Winning acclaim from roller coaster

clubs .and theme park Web sites won't keep the company in business if investors don't see a lot of black ink on the bottom line..

* Without a fresh supply of those innovative rides each year, a Six Flags park will not rise to be a "must-see" destination for even casual amusement park fans. It will be, at best, a fall-back for a day's entertainment, competing with movies, the mall and the PlayStation.

No Longer A Novelty Among Young People Why. ?

* Through their childhood they where exposed to amusement parks/state fairs.

* No new rides, they already experienced all of them.

* Most teens would rather stay home playing video games, instead of going out.

* They’d rather just go to the beach * Spending hours &hours on -facebook &you

tube. ect.. .

Suggestions To Help

State Fairs * Hold fundraisers

within the community..

* No cheap liquor. * Better facilities

Amusement Parks

* Add, new rides. * New

entertainment. * Lower ticket prices

the more people that come in one ‘group’ .

* The cheaper the food ; The more people buy it.

Work Cited

*http://www.bigtex.com/sft/ *

http://news.yahoo.com/s/ap_travel/20100901/ap_tr_ge/us_travel_brief_michigan_fair

*http://www.mlive.com/news/detroit/index.ssf/2011/01/on-going_water_troubles_in_hig.html