Premier Parks, LLC explained

Premier Parks, LLC
Type:	Private
Industry:	Amusement park operator
Founders:	Kieran Burke and Gary Story
Hq Location:	Oklahoma City
Area Served:	United States, Canada
Key People:	Kieran Burke (CEO) Susan Hughes (CFO)
Location Country:	United States

Premier Parks, LLC (formerly Rapids Holdings, LLC and Premier Attractions Management, LLC) is a limited liability company based in the United States. The company owns and operates several amusement parks and water parks across the country and one in Canada.

History

Kieran Burke and Gary Story previously held the positions of chief executive officer and chief operating officer at Six Flags for more than 10 years. In November 2009, the pair purchased Nashville Shores, consisting of a marina, RV park and water park. They redeveloped the water park for the 2010 season. In early 2011, it was announced the pair had purchased the Ocean Breeze Waterpark in Virginia with plans to renovate it for the 2011 season.^[1]

In 2011, the newly founded Premier Attractions Management began operating three properties owned by CNL Lifestyle Properties: Frontier City, SplashTown Houston, and White Water Bay^[2] CNL Lifestyle Properties had terminated its lease agreements with PARC Management for eight parks in late 2010.^[3] Burke and Story have since gained operational control of additional parks owned by CNL Lifestyle Properties.^{[4] [5]} In 2013, the company changed its name to Premier Parks, LLC taking the former corporate name of the company that had acquired and took the name of Six Flags.^[6]

In late 2016, CNL Lifestyle Properties sold their attractions portfolio to EPR Properties.^[7] Upon this transaction, EPR transferred management of these parks to Premier Parks, LLC, including ones previously operated by different groups.^[8]

In May 2017, operations of Waterworld California were transferred to Six Flags Entertainment Corporation, which had previously owned the park and also own the nearby Six Flags Discovery Kingdom.^[9] In May 2018, Six Flags announced that they had entered into a purchase agreement with Premier Parks to acquire the lease rights to operate 5 additional parks: Darien Lake, Frontier City, Wet'n'Wild Phoenix, Wet'n'Wild SplashTown, and White Water Bay.^[10]

Properties

Full Ownership

• Island H2O Water Park (2019–present)
• Nashville Shores (2009–present)
• Ocean Breeze Waterpark (2011–present)
• Wet'n'Wild Toronto (2016–present)^[11]

Operated for EPR Properties

• Calypso Park (2022–present)
• City Museum (2019–present)
• Hawaiian Falls Garland (2021–present)
• Hawaiian Falls The Colony (2021–present)
• Magic Springs (2017–present)^[12]
• Pacific Park (2018–present) ^[13]
• Rapids Water Park (2012–present)
• Valcartier Outdoor Water Park (2022–present)
• Valcartier Indoor Bora Parc (2022–present)
• Wet'n'Wild Hawaii (2014–present)
• Wild Waves Theme Park (2017–present)^[14]

Operated for Kroenke Entertainment

• Elitch Gardens (2013–present)

Former properties

Full Ownership

• Clementon Park (2011-2021); Sold at auction on March 23, 2021 to Indiana Beach Holdings, LLC (now known as IB Parks & Entertainment).^[15]

Operated for EPR Properties

• Darien Lake (2015–2018); Operations taken over by Six Flags
• Frontier City (2011–2018); Operations taken over by Six Flags
• Waterworld California (2007–2017); Operations taken over by Six Flags
• Wet'n'Wild Palm Springs (2014–2018) Sold to Pono Acquisition Partners I, LLC and closed until the 2020 season.^[16]
• Wet'n'Wild Phoenix (2014–2018); Operations taken over by Six Flags
• Wet'n'Wild SplashTown (2011–2018); Operations taken over by Six Flags
• White Water Bay (2011–2018); Operations taken over by Six Flags

Notes and References

1. Former Six Flags executives Breeze into Virginia. Park World Magazine. January 20, 2011. November 24, 2013. https://web.archive.org/web/20131202224420/http://www.parkworld-online.com/news/fullstory.php/aid/1894/Former_Six_Flags_executives_Breeze_into_Virginia.html. December 2, 2013. dead.
2. CNL announces new management for eight parks. Park World Magazine. January 25, 2011. November 24, 2013. dead. https://web.archive.org/web/20131203005033/http://www.parkworld-online.com/news/fullstory.php/aid/1897/CNL_announces_new_management_for_eight_parks.html. December 3, 2013. mdy-all.
3. CNL Lifestyle Properties and PARC Management End Lease Relationship. November 24, 2013. November 24, 2010. CNL Lifestyle Properties.
4. News: Silverstein. Stephanie. Premier Parks to take over operation of Wet 'n' Wild Hawaii. November 23, 2013. Pacific Business News. November 21, 2013.
5. CNL Lifestyle Properties acquires one of south Florida's largest water parks. November 24, 2013. July 2, 2012. CNL Lifestyle Properties.
6. Wet'n'Wild Phoenix, Hawaii to Add accesso eCommerce, Mobile Ticketing. January 27, 2014. January 20, 2014. Premier Parks LLC.
7. News: EPR Acquisition of CNL Portfolio. January 21, 2017. EPR Properties.
8. News: EPR Acquisition of CNL Portfolio.
9. Web site: Waterworld California Becomes Six Flags' 20th Property. Six Flags Entertainment Corp.. April 27, 2017. April 28, 2017.
10. Six Flags Adds Five More Parks to US Portfolio. 23 May 2018. Business Wire. Six Flags Entertainment Corporation. en.
11. Web site: Premier parks acquires wild water kingdom water park near Toronto « Amusement Today. amusementtoday.com. July 22, 2016. August 5, 2016.
12. News: EPR Acquisition of CNL Portfolio.
13. Web site: Premier Parks Named New Operator of Pacific Park on the Santa Monica Pier - Premier Parks, LLC.
14. News: EPR Acquisition of CNL Portfolio.
15. Web site: Indiana park operator buys Clementon Park for $2.3 million . www.inquirer.com . dead . https://web.archive.org/web/20210325092704/https://www.inquirer.com/business/clementon-park-amusement-buy-auction-splash-20210325.html . 2021-03-25.
16. Web site: Wet N' Wild Palm Springs sold; will be closed for 2019 season - KESQ . www.kesq.com . dead . https://web.archive.org/web/20190112083824/https://www.kesq.com/news/wet-n-wild-palm-springs-sold-will-be-closed-for-2019-season/973543543 . 2019-01-12.