10:30 AM CDT on Friday, June 23, 2006

Associated Press

NEW YORK -- Theme park owner Six Flags said it could sell or even close six of its 30 properties across North America.

KHOU-TV

The Tornado ride at Splashtown.

Among them is Six Flags Splashtown in Houston.

The revelation is among several made overnight. The Oklahoma City-based company said it may fail to meet certain bank credit agreements, and that reaching its previous financial forecast will be extremely difficult.

It’s citing lower park attendance and rising costs, but said those who are coming to the parks are spending more.

President and CEO Mark Shapiro said the attendance drop was expected because the company is no longer deeply discounting season passes. It has been targeting families as consumers, rather than teenagers.

Six Flags already closed its Astroworld theme park in Houston last year.

Other parks being examined for possible changes include Six Flags Darien Lake outside Buffalo, New York, Six Flags Waterworld in Concord, California, Six Flags Elitch Gardens in Denver, Wild Waves and Enchanted Village outside Seattle, and Six Flags Magic Mountain and Hurricane Harbor near Los Angeles.

The company said it can’t predict for certain whether any transactions will occur. It could sell the properties outright or dismantle the parks and sell the land for its real estate value.

Six Flags also owns and operates Six Flags Over Texas and Six Flags Hurricane Harbor in Arlington and Six Flags Fiesta Texas in San Antonio.